FYI: If you pick up any principles of economics textbook, there will typically be a discussion of taxes and tax incidence. Tax incidence describes who bears the burden of a tax. For example, suppose the government levies a payroll tax on a firm. The burden of the tax may be borne by the firm, the workers or the firm’s customers.
Regards,
Ted
http://ritholtz.com/2016/05/negative-interest-rates-a-tax-in-sheeps-clothing/
