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Full-Text Articles in Law
Essay: Sovereign Syndicated Bank Credits In The 1970s, Philip R. Wood
Essay: Sovereign Syndicated Bank Credits In The 1970s, Philip R. Wood
Law and Contemporary Problems
No abstract provided.
Sovereign Sukuk: Adaptation And Innovation, A. Roger Wedderburn-Day
Sovereign Sukuk: Adaptation And Innovation, A. Roger Wedderburn-Day
Law and Contemporary Problems
No abstract provided.
The Fiscal Revolution And Taxation: The Rise Of Compensatory Taxation, 1929-1938, Joseph J. Thorndike
The Fiscal Revolution And Taxation: The Rise Of Compensatory Taxation, 1929-1938, Joseph J. Thorndike
Law and Contemporary Problems
Thorndike explores the Keynesian conversion of Treasury Department tax-policy experts during the 1930s. At the beginning of the Great Depression, he narrates that there was no political interest in using tax cuts to promote economic recovery. In fact, in 1932 Congress responded to the economic emergency by enacting a tax increase in the name of fiscal responsibility. By 1937, however, Treasury experts had become persuaded of the merits of countercyclical taxation. Ironically, the first legislative experiment in Keynesian taxation took the form of a tax increase--the short-lived 1937 tax on undistributed corporate profits, intended to stimulate the economy by discouraging …