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Tuesday, December 11, 2012

Thomas Sowell: Taxing the Poor

While it is true that nearly half the households in the country pay no income tax at all, the apparently simple word “tax” has many complications that can be a challenge for even professional economists to untangle.

If you define a tax as only those things that the government chooses to call a tax, you get a radically different picture from what you get when you say, “If it looks like a tax, acts like a tax, and takes away your resources like a tax, then it’s a tax.”

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