Select the correct statement. According to a distributional analysis of the Tax Act of 2018 by the Tax Policy Center, upper income taxpayers received a greater reduction in taxes than lower or middle income taxpayers. A taxpayer that falls in the 35% tax bracket will pay a 35% tax rate on all taxable income. Under President Obama all tax rates that applied to tax brackets were increased; the Tax Act of 2018 decreased all tax rates in all tax brackets. The number of tax brackets is significantly reduced under the Tax Act of 2018; tax rates on capital gains, dividends, and interest income are also significantly reduced