Financing the War

Financing the War

Financing the War

Financing the War

Excerpt

No public finance discussion could be more timely than Financing the War, the subject matter of the Tax Institute's current symposium published in this volume. Moreover, the caliber of the authors who have collaborated and the care with which each has done the job he tackled will be a basis for reader satisfaction.

The conception of this series of discussions differs substantially from that of other materials, such as the issue of the Annals and the Alabama and Iowa State College volumes, devoted to kindred issues. The first part involves an attempt to show the amount, character, and implications of federal fiscal activity. Probably economic analysis of the government's finances has ordinarily been conceived too, narrowly. At any rate, the authors speaking to the first session of the conference undertook to explore the field realistically.

Because the new excess profits tax represents a far-reaching departure from immediately past American taxation policy, the general fiscal picture would be incomplete without consideration of the effects of this measure. The masterful presentation of major results by one of the outstanding authorities should be suggestive to business men and to policy-makers alike.

Another phase of the discussion is devoted to the larger economic implications of war finance and to means of easing the impact of taxes necessarily of great severity. Two sessions were concerned with fiscal programming in relation to prices, and one session was directed specifically toward the search for policies to mitigate the hardships for . . .

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