Victory in the Pacific by Albert Marrin

Victory in the Pacific by Albert Marrin

The definitive history of the effect of the income tax on the economy. Ever since 1913, when the United States first imposed the income tax via constitutional amendment, the top rate of that tax has determined the fate of the American economy. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s, the response of those with money and capital has been to curtail real economic activity in favor of protecting assets and income streams. Huge declines have come to the economy in these circumstances. The most brutal example was the Great Depression itself. When the top tax rate has been cut and held at reduced levels--as in the 1920s, the 1960s, in the long boom of the 1980s and 1990s, and briefly in the late 2010s--astonishing reversals have occurred. The rich have brought their money out of hiding and put it to work in the economy. The huge swings in the American economy since 1913 have had an inverse relationship to income tax rates.

SKU	Unavailable
ISBN 13	9781893103153
ISBN 10	1893103153
Title	Victory in the Pacific
Author	Albert Marrin
Condition	Unavailable
Binding Type	Paperback
Publisher	Beautiful Feet Books
Year published	1983-01-01
Number of pages	218
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.