In financial decision making, which is most important: the average or the marginal tax rate?

		average, because that is what is paid on an additional dollar earned, and thus impacts your incentive to earn that additional dollar
		marginal, because that is what is paid on an additional dollar earned, and thus impacts your incentive to that additional dollar
		average, because, by definition, marginal is small
		marginal, because, by definition marginal is small
		neither average or marginal is important, because business people are not concerned about after tax cash flows