A Federal tax program to promote economic stability and growth/

By:

Kimmel, Lewis Henry

Material type: Text

TextPublication details: Washington Brookins Institution 1960Subject(s):

DDC classification:

336.29 KIM

Summary: Federal tax policy is no longer based on the as sumption that an annually balanced budget is essential. In creasing taxes to maintain budgetary balance during a recession or depression would be construed as a perverse approach to fiscal policy. The built-in stabilizing features of the tax struc ture are regarded favorably by economists, members of Con gress, and government officials. Federal tax policy can be helpful in preventing or controlling inflation. Not all inflation ary situations can be controlled by increases in taxes; marked rises in taxes in themselves have dislocating effects. Sharp changes in federal expenditures have been more important as an inflation-making factor than postwar deficits. The bases for the personal and corporate income taxes should be strength ened. Inclusion of sources of income now excluded and the elimination of various forms of favored treatment would permit appreciable reductions in tax rates.

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	336.29 KIM (Browse shelf(Opens below))	c.1	Available		31008100227079

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Previous	336.2714094 VAL Valued Added Tax:	336.276 EST Estate and gift taxation :	336.29 ALM Taxing the hard-to-tax :	336.29 KIM A Federal tax program to promote economic stability and growth/	336.294 REC Tax incidence and income redistribution :	336.294 UNI The effects of taxation on foreign trade and investment /	336.3/43 HEM The Postwar Quality of State and Local Debt	Next

Federal tax policy is no longer based on the as sumption that an annually balanced budget is essential. In creasing taxes to maintain budgetary balance during a recession or depression would be construed as a perverse approach to fiscal policy. The built-in stabilizing features of the tax struc ture are regarded favorably by economists, members of Con gress, and government officials. Federal tax policy can be helpful in preventing or controlling inflation. Not all inflation ary situations can be controlled by increases in taxes; marked rises in taxes in themselves have dislocating effects. Sharp changes in federal expenditures have been more important as an inflation-making factor than postwar deficits. The bases for the personal and corporate income taxes should be strength ened. Inclusion of sources of income now excluded and the elimination of various forms of favored treatment would permit appreciable reductions in tax rates.

aia 13/03/2019

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