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...
Just look at California. Spending is out of control and they just voted to increase taxes on themselves.The state is broke but they want to spend billions on a high speed train that will never be able to pay for itself. Why? Because they want the federal dollars right now to help pay for the debt they already have. Ponzi scheme on a state level.
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