Wednesday, April 26, 2006

Quote of the Day

There are no phantom taxpayers. Even those who talk about taxing business would be wise to remember an observation once made by President Reagan: businesses don't pay taxes, people do.
—Rick Perry, Governor of Texas, 2004


Believe it or not, that oh-so-true statement was made just two short years ago by Texas Gov. Rick Perry, the same man who just this week railroaded through the Texas House a new business tax that dwarfs the old Anne Richards Franchise Tax in its scope. The full text of Perry's "no new taxes" speech, delivered back in February of 2004, is available to read on the governor's web site. Here is the relevant part:
To raise taxes in the name of education sounds nice, but it is counter-productive. Tax hikes that kill jobs also kill the tax revenue that fund schools and other priorities. It is simple economics 101 summed up by an old saying: "don't bite the hand that feeds you."

Those who embrace higher taxes should be courageous enough to say who it is they think is not paying their fair share. There are no phantom taxpayers. Even those who talk about taxing business would be wise to remember an observation once made by President Reagan: businesses don't pay taxes, people do.

Higher taxes on employers get passed on in the form of higher prices for the customer. Or maybe the employer is forced to sustain a smaller profit margin, meaning someone often loses their job. Either way, when taxes get raised on employers, real men and women pay the price, not some faceless entity.
Who was that masked man? Apparently, someone just pretending to be a fiscal conservative in order to get reelected.

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