March 27, 2012
Johnson: ObamaCare and the 'What Is a Tax?' Question
Steve Johnson (Florida State), Obamacare and the 'What Is a Tax?' Question -- Part II, 63 State Tax Notes 1037 (Mar. 26, 2012):
The current installment of our column details how the PPACA litigation sheds light on what constitutes a tax.
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The article is clear and complete except for one omission: A penalty seeks to minimize a _harmful_ action. A tax extracts a cut of a _beneficial_ action. Pigouvian taxes which seek to price externalities of harmful activities are closer to penalties than they are to taxes.
Posted by: AMTbuff | Mar 27, 2012 12:43:02 PM