Prosperity Lost

A MINORITY VIEW

BY WALTER E. WILLIAMS

RELEASE: WEDNESDAY, MARCH 18, 2009 AND THEREAFTER

Ask the average person which is the correct answer to the following question: Which president gave the biggest tax cuts for the rich -- Reagan or Bush? I would bet the rent money that you would not get the correct response, which is: Presidents have no taxing authority. Article I, Section 8 of the U.S. Constitution says: "The Congress shall have power to lay and collect taxes, duties, imposts and excises." I know that many politicians and news media people read my column. How do we characterize them if they continue to speak of presidents cutting or raising taxes?

Another tax question: If there's an imposition of a property tax on your land, who pays the tax? I guarantee you that land does not pay taxes; only people pay taxes. That means a tax on your land is a tax on you. You say, "Williams, that's pretty elementary, isn't it?" But what do you say to a politician or news media people who propose increasing corporate taxes as means to get rich corporations to pay their rightful share of government? They should be told that they speak nonsense because corporations, like land, do not pay taxes; only people pay taxes...

Surprisingly, there are a great many people who do not understand this concept! I've said for a long time now that if people had to actually make out a check each week for the taxes that are currently automatically deducted there'd be an instant revolt. The majority of people do not look at their pay stub and really take in how much of their wealth is being confiscated! Most people walk through life blissfully ignorant!