Description: Taxes Have Consequences : An Income Tax History of the United States, Hardcover by Laffer, Arthur B.; Domitrovic, Brian; Sinquefield, Jeanne Cairns; Trump, Donald (FRW), ISBN 1637585640, ISBN-13 9781637585641, Brand New, Free shipping in the US 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.
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Book Title: Taxes Have Consequences : an Income Tax History of the United States
Number of Pages: 440 Pages
Language: English
Publisher: Post Hill Press
Topic: United States / 20th Century, Economic History, Public Finance, Free Enterprise
Item Height: 1.7 in
Publication Year: 2022
Genre: Business & Economics, History
Item Weight: 25.8 Oz
Author: Arthur B. Laffer, Brian Domitrovic, Jeanne Cairns Sinquefield
Item Length: 9 in
Item Width: 6 in
Format: Hardcover
