Ronald Reagan famously said that if you want more of something, subsidize it, but “if you want less of something, tax it.” Political conservatives have hung on those words ever since — and there’s a degree of truth to the notion that incentives matter. It’s a major reason why federal, state and local governments routinely tax health menaces like tobacco and liquor at a higher rate than other goods. And it’s unquestionably helpful.
Want fewer guns and ammo on the street? Take Reagan’s advice and tax them
January 24, 2024