Media Economic Illiteracy

by | Apr 25, 2017

Observe the media’s economic illiteracy: reporters and pundits wonder why the nominal 35 percent corporate tax rate should be lowered when corporations pay a real rate that is so much lower. What those reporters and pundits don’t see is that many actions that corporations take to lower the real tax rate are nonproductive actions that would not be taken were it not for the high nominal rate. This constitutes a waste of resources to society.

PS: Corporate taxation is at least double taxation. So even a believer in taxes ought to oppose it.

About Sheldon Richman

Sheldon Richman is the executive editor of The Libertarian Institute and a contributing editor at Antiwar.com. He is the former senior editor at the Cato Institute and Institute for Humane Studies; former editor of The Freeman, published by the Foundation for Economic Education; and former vice president at the Future of Freedom Foundation. His latest books are Coming to Palestine and What Social Animals Owe to Each Other.

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