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View Diary: Progressive taxation: Flashback to 1941 (19 comments)

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  •  hmmm (0+ / 0-)

    so the government is going to decide what are emerging markets and emerging companies?

    And if there's nothing bad with a 70 percent why create carve outs for special industries?

    •  WE used to reward domestic investment (0+ / 0-)

      That environment changed with the 1986 Tax Reform Act.

      In the early days of radio we gave tax breaks to vacuum tube manufacturers. During WW2 we wanted United Aircraft to expand production

      the government paid partially or fully for the expansions in the form of tax breaks and accelerated depreciation

      (Fernandez, Ronald (1983), Excess profits: the rise of United Technologies)

      In 1954 excise taxes on telephones were reduced

      http://www.taxpolicycenter.org/...

      Jan 15th, 1938
      New Tax Plan To Aid Trade Is Proposed

      On Cap Gains....

      encouraging investment of capital in new productive enterprises

      more liberal deductions  in order to minimize the risk of investment in new enterprises

      http://news.google.com/...

      Depression era labor leader Sidney Hillman (ACW) called it a part of Industrial Policy. And for 50 years it was normal to throw a bone to companies in emerging areas.

      Carters Energy Tax Act of 1978 gave tax credits to spur solar, wind and geo thermal. By 1980 US solar manufacturers had the largest share of the world market.
      http://en.wikipedia.org/...

      FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Sat Sep 01, 2012 at 10:10:17 AM PDT

      [ Parent ]

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