“If a tax on malt would raise the price of beer, a tax on bread must raise the price of bread.”

— David Ricardo

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XVII, Taxes on Other Commodities, p. 168

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David Ricardo37

British political economist, broker and politician 1772–1823

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“If a tax on malt would raise the price of beer, a tax on bread must raise the price of bread.”

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