Problem
The Tax Reform Act of 1986 was designed to reduce the marginal tax rate (the tax rate on the last dollars earned) while eliminating enough deductions and loopholes so that total revenues collected by the government could remain constant. Analyze the work-incentive effects of tax reforms that lower marginal tax rates while keeping total tax revenues constant.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.