Abstract

Tax Cut: A Dissenting View
Dorner, Peter | September 28, 1963 issue

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The article presents information on the potential effects of tax cut that was introduced in the U.S. economy in the early 1960's. Any discussion of the potential effect of a tax cut must come to grips with two basic realities of present U.S. economy. First the increasing inelasticity of demand for an ever-expanding number of consumer goods. Second the increasing mechanization and automation resulting in a rapid disappearance of jobs for the unskilled. It is not the tax bite that has changed over this decade. It is not that industry is anxious and willing to invest but lacks funds or incentive because of taxes. Indeed, we have an excess industrial capacity now, and that is another of our problems.

See Also:

TAXATION -- United States; TAX cuts; FINANCE, Public; INDUSTRIAL capacity; CONSUMER goods; MECHANIZATION; INDUSTRIES; UNITED States
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