EARLY FINANCING METHODS
IN considering the question of the impact of the tax structure upon the inducement to invest, it is of interest to inquire into the origin of new industries, the early beginnings of great fortunes, and the changes which have occurred over the last hundred years in methods of financing new enterprises.
An examination of the biographical literature on great fortunes and on the beginnings of great corporations1 ought to throw some light upon the problem of the effect of a tax structure on investment in new enterprises. It is useful to inquire how an individual and corporate income tax, an undistributed profits tax, and a capital gains tax, had they been in existence a hundred years ago, might have modified____________________
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Publication information: Book title: Fiscal Policy and Business Cycles. Contributors: Alvin H. Hansen - Author. Publisher: W W Norton & Company Inc. Place of publication: New York. Publication year: 1941. Page number: 366.
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