Tweet of the Day: Liberal Economics 101

Ladies and gentlemen, the genius economic prowess of Matthew Yglesias:

@Mikexxxx1 No. Taxes are paid on profits not sales. It’s irrelevant to pricing.

— Matt Yglesias (@mattyglesias) July 30, 2013

Oy.

Cue the virtual eye-rolls on Twitter:

Economics blogger Matt Yglesias lacks the business know-how possessed by a six-year-old running a lemonade stand in her driveway.

— SunnyRight (@sunnyright) July 30, 2013

You guys, @MattYglesias is the smart one. What would all you people who have actually run a business know about how all this works?

— RB (@RBPundit) July 30, 2013

BRB guys, I'm dropping all our prices to cost. @mattyglesias

— Travesham (@Travesham) July 30, 2013

H/T Twitchy for flagging the econo-stupidity. See more reactions here.