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.
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(16 pages)
Economic History and DevelopmentEconomic PolicyEconomyFederal Tax PolicyFiscal Policy/DebtGovernment and PoliticsGovernment Waste/PorkPublic ChoiceTaxesTaxes and Budget
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