In response to:

Prophets and Losses: Part II

evie10 Wrote: Feb 06, 2013 9:14 AM
Thank you, Dr. Sowell. America really needs to hear this information.
Eleanor32 Wrote: Feb 06, 2013 10:28 AM
And how many will?

Even worse, how many will not believe it even if they read it?

Editor's Note: This column is part II in a series. Part I can be found here.

People on both sides of tax issues often speak of such things as a "$300 billion tax increase" or a "$500 billion tax decrease." That is fine if they are looking back at something that has already happened. But it can be sheer nonsense if they are talking about a proposed increase or decrease in the tax rate.

The government can only raise or lower the tax rate. Whether the actual tax revenues that the government will collect as a result will go up or...