Daniel Patrick Moynihan, the late senator fromNew York, once introduced a bill that would levy a10,000 percent tax on certain hollow-tipped bullets.a. Do you expect that this tax would raise muchrevenue? Why or why not?b. Even if the tax would raise no revenue, why mightSenator Moynihan have proposed it?

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Chapter8: Application: The Cost Of Taxation
Section: Chapter Questions
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Daniel Patrick Moynihan, the late senator from
New York, once introduced a bill that would levy a
10,000 percent tax on certain hollow-tipped bullets.
a. Do you expect that this tax would raise much
revenue? Why or why not?
b. Even if the tax would raise no revenue, why might
Senator Moynihan have proposed it?

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