100 Economics Question of the Day: An Intermittent Blog: Long Distance, Runaround

Thursday, May 25, 2006

Long Distance, Runaround

Never saw a tax they liked?

I promise to follow this up with a calculation of how much we have paid over the past three years, but note that
Individuals will be allowed to claim three years' worth of refunds on their 2006 tax returns, filed in 2007. They would be given the option of calculating their actual taxes paid or claiming a standard amount set by the Treasury Department and Internal Revenue Service.

is a free option.

Sellers of free options should not be running Treasuries.

The other key point that appears is that the country used to fund, not finance, its wars:
The tax dates to 1898, when telephones were a luxury and lawmakers needed money to fight the Spanish-American War.

The legend of Teddy Roosevelt and the Rough Riders was paid for in part by a luxury tax.


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