The Daily Tar Heel
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The Daily Tar Heel

Sen. Obama's tax position appealing but damaging

TO THE EDITOR:

Sen. Obama claims that somehow if the corporations simply pay more taxes all will be right on the federal balance sheet. Obama's message about making the big bad corporations pay their fair share is undoubtedly popular and appealing.

What Obama fails to acknowledge and what the average voter doesn't understand primarily because the school systems don't see it fit to make economics a required course is this: Corporations don't pay taxes consumers (read: you and I) pay them.

Anyone who has taken Econ 101 (Obama apparently skipped the Econ department at Columbia) knows that taxes are a cost of doing business — thus any increase in taxes on corporations whether they be oil companies or grocery stores — eventually find their way onto our store receipts as increased prices and decreased supply.

Questions anyone?



Michael Lewis
Senior
Health Policy and Management


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