KQ9: Are taxes too high? Or maybe too low?
- Rick Newman
- Jul 10
- 1 min read
President Trump recently signed a major tax law that will reduce some income taxes and make temporary tax cuts from 2017 permanent. Did Americans need a tax cut? Were taxes too high before? Is it possible that taxes are too low? Take the quiz and find out. Eleven questions. Go!
If you wanna know more 👇
Most of this data comes from the Congressional Budget Office. The latest data goes through 2021, so it's a bit dated, but the trends remain intact. Anybody can download the tables and do their own analysis.
Beer tax data comes from the Tax Foundation, which also has tons of data on taxes and tax history.
I once made my own beer to avoid beer taxes. It was a good effort, but it turned out to be much easier to just buy retail and pay the tax.
When I was young, broke and up to my eyeballs in credit card debt, I had to work on both ends of the problem. I worked three jobs for more income (aka tax revenue), and ate beans and shopped second hand stores (aka cut spending). It was a long and dusty trail. There was rainbow however, once my debt to gdp improved I was able to spend save and share more. Bottom’s up!