Question

If the united states government lowers the income taxes on the wealthiest americans, while decreasing welfare payments to the poorest americans, the result will likely be.

Answer 1

If the US government reduces the paid by the wealthiest citizens, while decreasing welfare payments to the poorest Americans, the result will likely be efficiency and a loss in equality in the US.

Income Tax
The word "income tax" refers to a category of tax that governments apply on income produced by organizations and people under their control. Taxpayers are required by law to file an income tax return each year in order to establish their tax liabilities.

Income taxes provide money for governments. They are employed to settle government obligations, finance public services, and satiate the needs of the populace. Along with the federal government, several states and local governments also require payment of income tax.

To learn more about Income Tax

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