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Abolish The Inflation Tax On The Poor And Middle Class, John Plecnik
Abolish The Inflation Tax On The Poor And Middle Class, John Plecnik
Law Faculty Articles and Essays
Inflation erodes the purchasing power of money and distorts some income tax liabilities upward, which in turn discourages savings and investment. When inflation is caused by the central bank “printing” money to fund deficit spending, it results in a transfer of real wealth from the holders of dollars or assets denominated in dollars to the government and, in normative terms, may be conceptualized as a tax. The effect of the so-called inflation tax is regressive, because low-income taxpayers often lack the sophistication or liquidity to invest in hedges against inflation. Following the double-digit inflation of the late 1970s and early …
Reflections On The Tax Reform Act Of 1976, Stanley S. Surrey
Reflections On The Tax Reform Act Of 1976, Stanley S. Surrey
Cleveland State Law Review
What should be said in concluding these reflections on the 1976 Tax Reform Act? Overall the verdict must be on the plus side. The Act does achieve reforms in a number of areas and the serious setbacks are relatively few. The credit goes to the reform groups on the Tax Committees and in the Congress, the Budget Committees and the Congressional Budget Office, the Joint Committee Staff, the few public interest groups, the dogged efforts of a few tax reform-minded Representatives and Senators, and in ways not really fully fathomable, to the efforts, differently pursued, of Chairman Ullman and Chairman …
The Analogous Development Of The Fair Trade And Tax Limitation Movements, Frank E. Packard
The Analogous Development Of The Fair Trade And Tax Limitation Movements, Frank E. Packard
Cleveland State Law Review
The Fair Trade Act, or resale price maintenance, movement began in 1913. The movement to limit federal income, gift, and estate tax rates to twenty-five per cent in peacetime commenced in 1939. The fair trade act movement was spearheaded by the American Fair Trade League. The federal income, gift, and estate tax rate limitation movement is spearheaded by the Western Tax Council.