There are a few irrefutable laws of basic economics that are understood by practically everyone. When the price of a good rises, people will buy less of it. This is common knowledge to anyone who has bought anything ever. There is also the law of unintended consequences which states that actions, laws, and policies often have secondary effects that differ from the original actions intentions. We have seen this inevitably played out in most laws passed by Congress. Both of these ideas have been around for thousands of years and the father of economics, Adam Smith, articulated them himself...
I have a daughter named Becca, she's the greatest. Taxes are for one purpose, and one purpose only, to keep feeding the pigs in Washington DC.
- WaPo editorial: Why is the world ignoring Hamas’ depravity? Ed Morrissey 18 minutes ago
- Uncommon courage: Jeb Bush finally weighs in on the border crisis Noah Rothman 58 minutes ago
- FAA, EASA reauthorize operations at Tel Aviv for Western airlines Ed Morrissey 1 hour ago
- Meriam Ibrahim lands in Italy, on way to US; Update: Meets with Pope Francis Ed Morrissey 2 hours ago
- Quotes of the day Allahpundit 11 hours ago
- Former loathsome nanny-state mayor confuses blogger with second awesome move this summer Mary Katharine Ham 12 hours ago