James Madison and John Calhoun were right to worry that the wrong fiscal regime would spell the demise of limited government. The enactment of the federal income tax eroded a traditional constraint on government spending and set the stage for the redistribution of wealth from taxpayers to tax consumers.
Taxpayers and Tax Spenders
Does a Zero Tax Price Matter?
By Jody W. Lipford, Bruce Yandle
This
article
appeared in
the Spring 2012 issue of The Independent Review.
Economic History and DevelopmentEconomic PolicyEconomyFederal Tax PolicyFiscal Policy/DebtGovernment and PoliticsGovernment Waste/PorkPublic ChoiceTaxesTaxes and Budget
Other Independent Review articles by Jody W. Lipford | ||
Summer 2020 | Is the Welfare State Crowding Out Governments Basic Functions?:An Update | |
Spring 2018 | Who Is the Forgotten Man (and Woman) on the Fiscal Commons? | |
Spring 2007 | Adam Smiths Roles for Government and Contemporary U.S. Roles:Is the Welfare State Crowding Out Governments Basic Functions? | |
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Other Independent Review articles by Bruce Yandle | ||
Summer 2020 | The Next Fifty Years: Optimistic or Pessimistic? | |
Spring 2020 | Narrative Economics:How Stories Go Viral and Drive Major Economic Events | |
Winter 2019/20 | The Green New Deal:Why Fossil Fuel Civilization Will Collapse by 2028 and the Bold Economic Plan to Save Life on Earth | |
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