The 1981 tax reform act reduced taxes on high-income individuals.Many economists believed that high tax rates would deter high-income individuals from working and investing, thus slowing the growth of income.This illustrates the issue of
A) the equality-efficiency trade-off.
B) usury.
C) the effects of budget deficits on future generations.
D) the cost disease of the public sector.
E) the importance of externalities.
Correct Answer:
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