I`m not an expert on the new tax bill (soon to be law), but a voice keeps whispering to me amid the applause, the political back-patting, the upbeat editorials and the bipartisan cheers of tax relief for low- and middle-income Americans. It`s the voice of my economics teacher saying,
”Now remember, corporations don`t pay taxes; only consumers pay taxes.”
He meant, of course, that regardless of how we consumers figure, we can`t figure better, figure faster or figure more bottom-line oriented than a quality MBA graduate.
When the cheering stops, and Dan Rostenkowski is having dinner at Mike Ditka`s restaurant and Ronald Reagan has swaggered into the sunset–whether it be higher prices, unemployment, whatever–somehow, we consumers will be picking up the tax tab. So unless my economics teacher was just being dismal, or he was being grossly unfair to maximum-profit, corporate America
–start digging!
