How much federal revenue would be saved in 2011 by letting the high-income tax cuts expire? ANSWER: d. $40 billion
How much would extending the high-income tax cuts add to budget deficits over the next ten years? ANSWER: d. $1 trillion
True/False The average middle-income household receives the highest dollar benefit from the middle-income tax cuts. ANSWER: False, higher-income households receive more.
True/False An extension of the high-income tax cuts would mostly benefit small businesses. ANSWER: False, the extension would benefit few small businesses.
Reminder: We’ll post the answers each afternoon. If you keep score on your own and send an email to [email protected] at the end of the week with your score, we’ll send you one of our newly-designed Center on Budget T-shirts. Stay tuned.