This report sheds light on just how ill-conceived tax regulation leads to lost output, lost growth and lost jobs. This report has been sponsored by the American Express Company. In conventional markets, consumers are fixed and products are mobile. In most cases, the revenues of exports are recaptured when products are shipped outside destinations. In most markets, if a consumer chooses one brand or product over another, a sale still takes place.
Resident taxpayers vote via ballot.
Such residents can be expected to demonstrate, via the ballot, their dissatisfaction with tax policies that threaten their livelihood. Thus, while shifting the tax burden to tourists may be expedient politics, it does not guarantee political safety.