Op-ed by Steve Hanke, includes “There are hidden costs and excess burdens associated with the imposition of taxes. … These administrative and compliance costs are relatively easy to comprehend. A more difficult concept is the excess burden of additional taxes—the disincentives and distortions they impose on the economy. … The late Martin Feldstein, in a 1999 article for the Review of Economics and Statistics, estimated the excess burden of federal taxes to be $3 for each additional dollar of revenue.”
Read the full article on: The Wall Street Journal