Quote#Wisdom
But a tax on luxuries would no other effect than to raise their…
Quote byDavid Ricardo · 1772–1823
Commonly attributed — not confirmed in an authoritative edition. Cited on Wikiquote to: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XVII, Taxes on Other Commodities, p. 161 (see also.. Consumption Tax).
English (original)
But a tax on luxuries would no other effect than to raise their price. It would fall wholly on the consumer, and could neither increase wages nor lower profits.
— David Ricardo
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