Saturday, 2 October 2004

Economics 101

From Saturday’s Washington Post:

[New stadium opponents] said that although the stadium proposal calls mainly for taxing stadium services and big business, they feared that businesses would simply pass those extra costs on to consumers. [emphasis added]

Free hint: the businesses will pass those extra costs onto consumers, either through increased prices or lower levels of customer service (i.e. reducing payroll). Or they’ll leave Washington entirely.

1 comment:

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Maybe we should pass a law saying businesses cannot pass the cost of business onto consumers.

Bad economics is always made better with bad legislation!

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