(This column is part one in a two-part series. Part two, “The number of those who pay no U.S. tax is actually miniscule,” discusses the common misunderstandings the public has about taxation.) It is hard to find an economic statistic…
If Cain’s tax is a value-added tax, then let’s call it that
Just as there are myriad complications in as simple a concept as taxing “income,” there are just as many if you want to tax “sales” or “business profits.” Herman Cain’s 9-9-9 plan may prove to be a flash in the…
Tax reform must define income
Definitions in tax policy are not always as simple as they seem. Michele Bachmann correctly observed that “the devil is in the details” of Herman Cain’s tax plan. However, this is true of any tax changes, not just Cain’s. Such…
Errors in economics coverage spread misunderstandings
Economic ignorance never dies. Seeing bad arguments repeated, again and again, even when correct information is widely available is the most disheartening thing about teaching economics. Two recent examples in the media show how misunderstandings and mistakes can worsen, rather…