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No kidding. "And since bestowing tax exemptions is the same as spending cash from the government’s perspective". I physically shuddered as I read that. The aut
by rubidium 11y ago
No kidding. "And since bestowing tax exemptions is the same as spending cash from the government’s perspective". I physically shuddered as I read that.
The authors entire argument falls apart right there.
- guelo 11y agoAn accounting truism made you shudder?
- jobu 11y agoHow is that wrong? The government decided not to tax these college endowments because they were considered a public good. That decision had a direct effect on the government's budget - a cost.
- vixen99 11y agoIndeed that's true. A government in a country which decides to absorb all wealth created by its citizens (100% taxation) would bear a cost should it allow any dispensation. I guess there'd be a powerful debate on whether the latter was justified and fair.