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- Title
THE PROPOSAL TO TAX INCOME FROM GOVERNMENTAL SECURITIES: II. THE CASE AGAINST TAXATION.
- Authors
BETTERS, PAUL V.
- Abstract
The author argues against tax on income from governmental securities in the U.S. It is stated that, those who favor tax on the income must remember that when people purchase tax exempt government bonds they accept a very low rate of interest which is in effect a form of taxation at the source. It is stated that, if the proposal of the U.S. Department of Treasury to impose tax on tax exempt government bonds is implemented then it would immediately cause a rise in the interest rate paid on public securities since the buyers would refuse to absorb the tax, but would pass it on to the borrowers.
- Subjects
UNITED States; GOVERNMENT securities; INTEREST rates; TAXATION; TAX exemption; GOVERNMENT revenue; INTERNAL revenue; TAX deductions; UNITED States. Dept. of the Treasury
- Publication
Law & Contemporary Problems, 1940, Vol 7, Issue 2, p222
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1189618