Undercover Economist: The only thing worse than high taxes is noticing they’re high

Not all taxes are created equal. They vary in obvious ways, such as who has to send money to the government. They vary in subtle ways, too – such as who actually pays the tax.

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Publishing schedule: Excerpts from "The Undercover Economist" and "Dear Economist", Tim's weekly columns for the FT Magazine, are published on this blog on Saturday mornings.
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