Walter E. Williams: Politicians Exploit Economic Ignorance
Professor of Economics Walter E. Williams wrote this column appearing October 6, 2010 on Townhall.com.
One of President Obama’s campaign promises was not to raise taxes on middle-class Americans. So here’s my question: If there’s a corporate tax increase either in the form of “cap and trade” or income tax, does it turn out to be a middle-class tax increase? Most people would say no but let’s look at it.
There’s a whole subject area in economics known as tax incidence — namely, who bears the burden of a tax? The first thing that should be recognized is that the burden […]

