War Taxes and Loans in 1927 Budget Debate
Rowin and A Seligman analyze how wartime revenues should be split between taxes and loans. They critique McAdoo's 50 50 plan, warn against early heavy taxation, and outline principles to apportion burden across income, consumption, and business. They compare British wartime taxation and call for balanced, equitable tax rates.
MENTIONED IN THIS ARTICLE
Rowin & A. Seligman
McVickar
Columbia University
House of Representatives
Committee On Ways and Means
Amont
McAdoo
Great Britain
Ovenson
Debate on proposed income tax reforms and revenue limits
The text criticizes a House bill proposing steep taxes and favors a total tax take around 1.25 to 1.5 billion. It argues for a balanced plan with excess-profits tax at a sound rate, income tax revisions, stable whisky and tobacco taxes, stamp tax, and improved automobile tax to avoid heavy burdens on the poor while protecting business and social productivity. It urges a scientific system and elastic margins to sustain wartime finance.
MENTIONED IN THIS ARTICLE
Great Britain
Senate
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