Brandan Radford’s Reviews > Federal Taxation in America: A History > Status Update

This chapter made me feel like George W Bush is worth hating strictly because his tax policy and stubbornness. Definitely starting to wonder what correlations can be found between tax cuts and modest turn downs in the economy or even full out recessions/depressions.

G. W. Bush was a piece of work and his opinions towards taxes resulted in our current borrow reliant federal budget shifting the tax regime.

Bill Clinton really had to have bipartisan skills.

1986 Tax Reform Act was more progressive than most would believe, but also “no new taxes” really kneecapped H.W. in his efforts to get re-elected. Lastly there was a mention of a divided Republican Party and I found that intriguing.

When inflation is high and wages fail to keep up the regressive tax of Social Security does not keep up. Therefore inflation in cost of living without rising wages means Social Security becomes burdensome and unsustainable budget item for the government.

Is the main argument really increase tax revenue or increase tax cuts for the wealthiest? It definitely does seem to boil down to that, but the complex questions follow even once you simplistically look at tax policy through this lens of revenue ability and tax cut opportunities based on the tax base.

WWII resulted in taxation of the masses rather than taxation of the higher classes. Also WWII relied on income tax when WWI relied on corporate tax. Such an interesting period of progressive and regressive changes all occurring simultaneously.

Starting to see some shifting in what political platforms looked like for each party. President Wilson created the IRS and seems like much of the systems it out in place early on in terms of reporting salaries falling on corporations and ppl hasn’t changed. Also very very intrigued that paying your taxes during WWI was considered patriotic just like it was prior to the 16th amendment during the civil war.

Civil war gave rise to experimenting with income tax and by world war I the practices was brought back, legalized, and normalized. Intrigued by what future conflicts will do to the tax policies I will come across as I read through the book.