Quotation of the Day…

by Don Boudreaux on August 16, 2011

in Seen and Unseen, Taxes

is from EconLog’s David Henderson who recalls how Herbert Stein described the failure to understand that taxes on corporations are taxes on people:

I remember that in addressing the issue in the 1980s, the late Herb Stein said that it’s as if people think that if the government imposed a tax on cows, the tax would be paid by the cows.

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