“An important subject area in economics is called tax incidence. It holds that the entity upon whom a tax is levied does not necessarily bear its full burden. Some of it can be shifted to another party.
If a tax is levied on a corporation, it will have one of four responses or some combination thereof. It will raise the price of its product, lower dividends, cut salaries, or lay off workers. In each case, a flesh-and-blood person bears the tax burden.”
Wish he’d written the whole article on this subject.
Huge ignorance of it.
“They’re not taxing me, they’re taxing the guy I buy from!”
Bookmark
I used to feel that we should lower taxes on the rich rino establishment and their upper class elitist cohorts. But, since both of them are trying to destroy our borders that has completely changed. Until the border is secure and until they stop spending out money as they want and as long as the corporate medias smears us I say no more tax cuts. I am sick and tired of a Conservatism that does not work for conservatives but only for the corporatist.
Walter E. Williams.....he always joked that his wife called him Mr. Williams....this guy is the real deal all around.
Teachable moment always....
God Bless.
Democrats,liberals love to categorize everything by race...EXCEPT taxes and who pays them.......Hmmmm wonder why??????
There should be only one tax rate... Say 10%. Only charitable deductions allowed. Nothing for kids, mortgages, etc. That is the only way to get rid of the evil tax code and treat everyone the same way.
Great line!
bkmk
These numbers paint a pretty good picture of why those demanding the rich pay their “fair share” will never put a number on the amount, but rather just keep it vague in order to use it as an annual hammer to pound home a lie and promote envy.
I always believed what Dr. Williams had to say. Now he is saying that $500,000 a year doesn’t make one rich? Wonder what $20-40K a year makes you? I guess maybe he is right,but being rich sure has a different connotation now than it had when I was a young wage earner.
That is pretty much almost every hardworking couple in America.
No wonder Congress has so much money to waste.