Problem
Let's suppose that income tax rates rise significantly over the next ten years. How can people at all levels of income react over time, not just immediately after taxes are raised? How will the size of the response differ, say, a year after the rise in tax rates compared to a week after the increase? Is it possible that some people will actually change their behavior before the higher tax rates go into effect? Explain.
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.