The Next Four Years I. What's Ahead In Fiscal Policy

Groves, Harold M.
January 1941
New Republic;1/20/41, Vol. 104 Issue 3, p74
Focuses on the American economic future in the wake of war preparations, war participation, and post-war adjustments. Report that because of extraordinary economic conditions, the first two U.S. President Franklin D. Roosevelt Administrations were subject to heavy financial strain; Implications of the policy of borrowing; Information on the Keynes Plan on the economic consequences of the present situation; Crisis of post-war unemployment; View that tax institutions do have inertia and that it may be advisable to begin now to prepare for full employment; Need for a simpler excess-profits tax as suggested by Senator Robert Marion La Follette; Need for modification in the personal taxation; Expansion of indirect taxation; Desirability of better federal state relations in taxation; View that nobody wants to see a complete regimentation of economic life, even in wartime; Observation that if rational and democratic government in the United States is to give way to some totalitarian regime, the refusal of the American people to tax themselves adequately and intelligently will probably be an important cause of the tragedy.


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