Everyone will pay less, except for prostitutes and gamblers, but we’ll still have the same amount of money. All prices will fall because of the “embedded” costs of income taxes, but the price of labor won’t fall. And a 30 cent tax added to a $1 price is a 23 percent tax. No straight talk from the former governor of Arkansas.
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About the Author
Ramesh Ponnuru is the editor of National Review, a columnist for the Washington Post, and a fellow at the American Enterprise Institute.
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