On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act of 2017, which cut the corporate tax rate and individual income tax rates beginning in 2018 and increased the standard deduction and child tax credit. By reducing individual income tax rates, take-home pay for taxpaying workers would increase. The purpose of the individual income tax cuts, in part, was to encourage work and increase the supply of labor. These income tax cuts would, indeed, tend to encourage work and increase the supply of labor, but only if income effects were stronger than substitution effects. Do you agree or disagree? Explain your answer.