New contest: Count the editorial errors
Posted by John Hood at 08:43 AM
Anyone care to take a swipe at identifying how many errors of logic and economics are contained in this brief Charlotte Observer editorial?
Presidential candidate Ralph Nader, interviewed in The American Conservative, says America taxes the wrong sales. His explanation: "If you go to a store and buy furniture, you pay 6, 7, or whatever percent. You buy 1,000 shares of General Motors, you don't pay anything. So what we are doing is taxing food and clothing but not the purchase of stock, bonds, derivatives and currency speculation." . . . People who have political clout determine what's taxed and what isn't. The guiding principle isn't logic or fairness, it's power. That's one reason North Carolina keeps raising state college tuition — in effect, increasing the tax on learning — but refuses to raise the tax on cigarettes.
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