Word: would
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Dates: during 1980-1989
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...they did pay their own way, eating out would be cheaper for all of us. Just like any other subsidy, favorable tax treatment artificially stimulates demand for a product and increases the price of that product. Were it not for the T and E deduction, restaurants would be cheaper for everyone, including those of us who don't enjoy generous expense accounts...
...partner at the investment firm Touche Ross said, "Any time the after-tax consequences are greater, management looks harder at expenses." In other words, if Maison Robert's corporate customers couldn't deduct their $16 desserts, Maison Robert would have to lower its prices. That's what the free market is all about...
...have another argument though, one that appeals to the worst excesses of supply-side theory. You see, the entertainment industry is one of the nation's largest employers of unskilled labor. If we took away the subsidy for shrimp cocktails, think of all the poor waiters who would be out of work...
...problem with this argument is that if corporations didn't spend their money on food, they would spend it elsewhere--by buying more products, employing more workers or, better yet, investing in new productive capacity...
...government subsidy, be it a tax break or a direct expenditure, produces jobs. The best subsidies increase production of something of value to society that otherwise would be underproduced...