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- Title
THE PROPOSAL TO REDUCE HIGH SURTAXES: I. THE CASE FOR REDUCTION.
- Authors
MAGEE, JMES D.
- Abstract
The author argues in favor of the proposal of reducing high surtaxes which exists in the U.S. It is stated that, people arguing in favor of high surtax rates base their views on the belief that since people with high incomes have more ability to pay, so they should pay higher tax rates, which would reduce the inequalities in the distribution of wealth to some extent. However, as stated, high surtax rates are not the best way to reduce income inequalities as heavy surtaxes have seriously hampered economic recovery by lessening the funds available for investment in equity capital. It is stated that, higher surtaxes results in more investment into government securities rather than into industrial securities.
- Subjects
UNITED States; SURTAX; TAXATION; GOVERNMENT revenue; GOVERNMENT securities; INVESTMENTS; INTERNAL revenue; INCOME inequality; ECONOMIC recovery
- Publication
Law & Contemporary Problems, 1940, Vol 7, Issue 2, p183
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1189613