Econ 101

Lots of discussion about the proposed transfer tax over at the PAC2 listserv, of all places. I'm going to stick to my basic premise about allowing it to come to a vote for the time being, but assuming it does, there's going to be a ton of conversation, much of it basic blather, over the next 3 months about this topic. Hopefully i'll be able to shed more light than heat on the topic in the run up to Election Day, but we'll see how things work out.

My favorite comment over there was this:

Basic Economics 101 teaches us that raising the cost of an activity discourages that activity. Hence the tax on tobacco was raised to reduce teen smoking, toll roads are built to ease traffic congestion, etc.

That of course explains why economics majors have to take those hard 300 and 400 level courses to get their degrees.