FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1580492318> ?p ?o ?g. }

• W1580492318 endingPage "122" @default.
• W1580492318 startingPage "95" @default.
• W1580492318 abstract "I INTRODUCTION In his classic study of federal economic policy, The Fiscal Revolution in America, (1) Herbert Stein offered a telling comparison. In 1931, faced with rising unemployment and a growing budget deficit, President Herbert Hoover proposed a tax increase. In 1962, faced with similar (if less acute) conditions, President John F. Kennedy proposed a tax reduction. This contrast reveals a sea change in American political economy. Between the late 1920s and the early 1960s, economists and political leaders changed the way they thought about taxes, spending, and the impact of each on the national economy. As a group, they embraced a particular type of compensatory fiscal policy designed to regulate the business cycle. (2) As the name implies, domesticated Keynesianism drew its inspiration from the work of John Maynard Keynes, especially his 1936 treatise, The General Theory of Employment, Interest and Money. (3) But it represented a distinctly American interpretation of the Keynesian canon. Domesticated Keynesianism emphasized the use of automatic stabilizers (like a relatively stable tax system), rather than active manipulation of revenue and spending decisions. In addition, domesticated Keynesianism paid homage (more symbolic than substantive) to the political shibboleth of a budget, albeit one balanced at a theoretical level of full or high employment rather than one balanced in the actual economic conditions prevailing each fiscal year. (4) The history of Keynesianism, in all its variants, has been told many times. But most studies--especially those focused on the early years of the fiscal revolution--have emphasized the spending side of the fiscal equation, giving short shrift to the important role of taxation. (5) The reasons for this relative neglect are both obvious and puzzling. They were obvious because early champions of compensatory fiscal policy were themselves inclined to downplay the role of taxation. Federal taxes in the 1930s were either too narrow (income taxes that burdened only the rich) or too unwieldy (myriad excise taxes paid by millions of consumers) to play an effective role in compensatory policy. Expansionary tax cuts--an element of countercyclical policy that we now take for granted--were hard, if not impossible, to engineer before the advent of a broad-based, flexible revenue instrument like the modern income tax that emerged during World War II. But the neglect is puzzling given the political salience of taxation during the Great Depression. No issue did more to estrange Franklin Roosevelt from wealthy Americans and leaders of the U.S. business community. And no issue was more responsible for the New Deal's political problems in the late 1930s, when a tax-driven backlash put an end to Roosevelt's ambitions for structural economic reform and gave a boost to less contentious Keynesian schemes for managing the economy. (6) Even more important, the particular version of countercyclical fiscal policy that proved ascendant in American politics--Stein's domesticated Keynesianism--relied principally on taxation, rather than spending, to manage the vicissitudes of the business cycle. To understand the rise of domesticated Keynesianism, we need a better history of revenue Keynesianism: the distinctive role of taxation within a larger program of compensatory fiscal policy. This article explores the early history of compensatory taxation, focusing not on the era of its intellectual and political maturity after World War II, but on its relative infancy during the 1930s. (7) It gives special attention to debates within the tax-policy community, a loose grouping of fiscal experts whose influence on the fiscal revolution was pivotal. (8) As it turns out, compensatory taxation found a receptive audience in the tax community of the 1930s. Though it took more than thirty years for domesticated Keynesianism to win the hearts and minds of politicians, revenue Keynesianism swept the tax community in less than a decade. …" @default.
• W1580492318 created "2016-06-24" @default.
• W1580492318 creator A5027420251 @default.
• W1580492318 date "2010-01-01" @default.
• W1580492318 modified "2023-09-26" @default.
• W1580492318 title "THE FISCAL REVOLUTION AND TAXATION: THE RISE OF COMPENSATORY TAXATION, 1929-1938" @default.
• W1580492318 hasPublicationYear "2010" @default.
• W1580492318 type Work @default.
• W1580492318 sameAs 1580492318 @default.
• W1580492318 citedByCount "2" @default.
• W1580492318 countsByYear W15804923182015 @default.
• W1580492318 countsByYear W15804923182018 @default.
• W1580492318 crossrefType "journal-article" @default.
• W1580492318 hasAuthorship W1580492318A5027420251 @default.
• W1580492318 hasConcept C10138342 @default.
• W1580492318 hasConcept C138921699 @default.
• W1580492318 hasConcept C139719470 @default.
• W1580492318 hasConcept C162324750 @default.
• W1580492318 hasConcept C165556158 @default.
• W1580492318 hasConcept C17744445 @default.
• W1580492318 hasConcept C195487862 @default.
• W1580492318 hasConcept C199539241 @default.
• W1580492318 hasConcept C2778126366 @default.
• W1580492318 hasConcept C524878704 @default.
• W1580492318 hasConcept C83873408 @default.
• W1580492318 hasConcept C94625758 @default.
• W1580492318 hasConceptScore W1580492318C10138342 @default.
• W1580492318 hasConceptScore W1580492318C138921699 @default.
• W1580492318 hasConceptScore W1580492318C139719470 @default.
• W1580492318 hasConceptScore W1580492318C162324750 @default.
• W1580492318 hasConceptScore W1580492318C165556158 @default.
• W1580492318 hasConceptScore W1580492318C17744445 @default.
• W1580492318 hasConceptScore W1580492318C195487862 @default.
• W1580492318 hasConceptScore W1580492318C199539241 @default.
• W1580492318 hasConceptScore W1580492318C2778126366 @default.
• W1580492318 hasConceptScore W1580492318C524878704 @default.
• W1580492318 hasConceptScore W1580492318C83873408 @default.
• W1580492318 hasConceptScore W1580492318C94625758 @default.
• W1580492318 hasIssue "1" @default.
• W1580492318 hasLocation W15804923181 @default.
• W1580492318 hasOpenAccess W1580492318 @default.
• W1580492318 hasPrimaryLocation W15804923181 @default.
• W1580492318 hasRelatedWork W1583166752 @default.
• W1580492318 hasRelatedWork W1586221904 @default.
• W1580492318 hasRelatedWork W1982227765 @default.
• W1580492318 hasRelatedWork W2064273062 @default.
• W1580492318 hasRelatedWork W2078278166 @default.
• W1580492318 hasRelatedWork W2177065150 @default.
• W1580492318 hasRelatedWork W2222510108 @default.
• W1580492318 hasRelatedWork W2282070281 @default.
• W1580492318 hasRelatedWork W2306227023 @default.
• W1580492318 hasRelatedWork W2325324486 @default.
• W1580492318 hasRelatedWork W2477176947 @default.
• W1580492318 hasRelatedWork W2611727505 @default.
• W1580492318 hasRelatedWork W2766418775 @default.
• W1580492318 hasRelatedWork W2939823090 @default.
• W1580492318 hasRelatedWork W2978863465 @default.
• W1580492318 hasRelatedWork W3124824170 @default.
• W1580492318 hasRelatedWork W561124377 @default.
• W1580492318 hasRelatedWork W652828394 @default.
• W1580492318 hasRelatedWork W656839907 @default.
• W1580492318 hasRelatedWork W151812992 @default.
• W1580492318 hasVolume "73" @default.
• W1580492318 isParatext "false" @default.
• W1580492318 isRetracted "false" @default.
• W1580492318 magId "1580492318" @default.
• W1580492318 workType "article" @default.