Tuesday, June 14, 2016

Marie Antoinette: "let the poor eat cake" or retain a great tax attorney


Reading Jeff Sommers' gas tax proposal and found the usual: such and such tax is regressive so to compensate lets give the poor a tax credit. Tax credits are such a sop to the regressive tax argument, sure such and such tax is regressive so to make it fair let’s give the poor a credit for the taxes collected.  Okay let's see. A poor person looks over his credit card statement and calculates the gallons of gas bought and taxes paid which then he gives to his accountant to prove the credit being taken after have been advised that the credit is available. It’s pretty much like Marie Antoinette declaring “let the poor eat cake” and retain a really good tax attorney.


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