Problem
Fifty years ago in America, high-income people paid 91 cents in federal personal income taxes on each additional dollar of income they earned. If you found yourself paying such a 91 marginal tax rate, how great would be your incentive to find legal loopholes to reduce your federal tax liabilities? If you found yourself in the lowest federal personal income tax bracket of, say, 15 percent (paying 15 cents in taxes out of each additional dollar earned), would your incentive to find loopholes to reduce your tax bill be the same? 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.