Ken Fisher’s Fiscal Quiz

8 Questions | Total Attempts: 263

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Ken Fisher’s Fiscal Quiz


Questions and Answers
  • 1. 
    Which of the following are three tax changes associated with the “Fiscal Cliff”?
    • A. 

      Alternative Minimum Tax (AMT) patch expiry, corporate tax rates increase and national sales tax enacted.

    • B. 

      Income taxes revert to pre-2003 rates, AMT patch expiry and Affordable Care Act taxes on passive income.

    • C. 

      Affordable Care Act taxes on passive income, corporate tax rates increase and capital gains taxes increase.

    • D. 

      Income taxes revert to pre-1953 rates, qualified dividends no longer receive special treatment and payroll tax cut expiration.

  • 2. 
    What rate is the top bracket paying today?
    • A. 

      39.6%

    • B. 

      25%

    • C. 

      28%

    • D. 

      35%

  • 3. 
    In 2014, how many Democratic senators are up for re-election in states that have tended to vote Republican?
    • A. 

      9

    • B. 

      4

    • C. 

      17

    • D. 

      128

  • 4. 
    Should the US go off the Fiscal Cliff, how much is total government spending projected to decrease in calendar year 2013?
    • A. 

      $9 Billion

    • B. 

      $1.2 Trillion

    • C. 

      $600 Billion

    • D. 

      $451.3 Billion

  • 5. 
    How many times has Congress raised the debt ceiling since 1917?
    • A. 

      34

    • B. 

      7

    • C. 

      105

    • D. 

      1,413

  • 6. 
    Should no changes to the Fiscal Cliff occur, what income tax rate would the highest tax bracket (all tax filers earning over $390,050) be subject to on 1/1/2013?
    • A. 

      91%

    • B. 

      28%

    • C. 

      35%

    • D. 

      39.6%

  • 7. 
    True or false: Since 1926, tax hikes have been proven to have caused multiple bear markets.
    • A. 

      True

    • B. 

      False

  • 8. 
    True or false:  Spending cuts helped drive or deepen the sharp and severe economic contraction from 1929-1933 during Herbert Hoover’s presidency.
    • A. 

      True

    • B. 

      False

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