Welcome to the Finger Lakes! Our theme song:

In a town this size, there's no place to hide
Everywhere you go, you meet someone you know...
In a smokey bar, in the backseat of your car
In your own little house, someone's sure to find you out
What you do and what you think
What you eat and what you drink...

(Kieran Kane)

Tuesday, October 5, 2010

Who really pays?

You do.

Walter Williams is one of the few Three Line Haul-approved professors of economics.  Today Dr. Williams reminds us who really pays all those corporate taxes:

"If a tax is levied on a corporation, and if it is to survive, it will have one of three responses, or some combination thereof. One response is to raise the price of its product, so who bears the burden? Another response is to lower dividends; again, who bears the burden? Yet another response is to lay off workers. In each case, it is people, not some legal fiction called a corporation, who bear the burden of the tax."

We all need to understand this concept, and nobody explains it better than Dr. Williams.  Click the quote to read the entire article.  

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