Abstract

Editorials
August 21, 1954 issue

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The new tax law, with its handouts to business enterprise and stockholders, is being defended as an antidote to recession. More liberal treatment of depreciation, it is claimed, will encourage industrial expansion; rebates to dividend receivers will stimulate venture capital. These arguments would be more impressive if backed by evidence that the economic setback was in any way related to a lag in private investment. Actually, the trouble can be traced to a quite different cause — the failure of consumption to keep pace with the flood of goods pouring from immensely expanded industrial plant.

See Also:

TAXATION -- Law & legislation; RECESSIONS; TAX rebates; CONSUMPTION (Economics); VENTURE capital; INVESTMENTS
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