A study of the Bush tax cuts of 2001 noted that the top 1 percent of income
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A study of the Bush tax cuts of 2001 noted that the top 1 percent of income earners reaped the biggest benefits. What assumptions about the elasticities of demand and supply for high-wage labor and capital might be consistent with this assessment? What other facts about demand and supply and market outcomes would you need to know to verify this claim?
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The question of who benefits from a tax cut is the same question as who pays a tax when it is levied ...View the full answer
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