When U.S. President George H. W. Bush lowered tax withholding in the United States in 1992 without lowering the amount of taxes owed, surveys showed that:
A) almost everyone spent the higher take-home pay.
B) almost everyone saved the higher take-home pay.
C) a majority of respondents said they would spend the higher take-home pay, but a significant minority said they would save it.
D) a majority of respondents said they would save the higher take-home pay, but a significant minority said they would spend it.
Correct Answer:
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