Statement I: One reason for the greater concentration of wealth in the hands of the rich is the slashing of the federal income tax rates paid by the rich over the last three decades.
Statement II: In the U.S.income is more evenly distributed than wealth.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

Federal Income Tax Rates

A schedule of rates set by the government applied to the taxable income of individuals, corporations, and other entities.

Wealth Concentration

The scenario where a small percentage of people or entities hold a large portion of total wealth in a society.

Income Distribution

Refers to how a country’s total GDP is spread amongst its population, affecting economic equality and citizens' standard of living.