Publisher Description
The definitive history of the effect of the income tax on the economy.
Ever since 1913, when the United States first imposed the income tax via constitutional amendment, the top rate of that tax has determined the fate of the American economy. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s, the response of those with money and capital has been to curtail real economic activity in favor of protecting assets and income streams. Huge declines have come to the economy in these circumstances. The most brutal example was the Great Depression itself. When the top tax rate has been cut and held at reduced levels—as in the 1920s, the 1960s, in the long boom of the 1980s and 1990s, and briefly in the late 2010s—astonishing reversals have occurred. The rich have brought their money out of hiding and put it to work in the economy. The huge swings in the American economy since 1913 have had an inverse relationship to income tax rates.
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About the Authors
Hans Christian Andersen (1805–1875) was born in Odense, Denmark, the son of a poor shoemaker and a washerwoman. As a young teenager, he became quite well known in Odense as a reciter of drama and as a singer. When he was fourteen, he set off for the capital, Copenhagen, determined to become a national success on the stage. He failed miserably, but made some influential friends in the capital who got him into school to remedy his lack of proper education. In 1829 his first book was published. After that, books came out at regular intervals. His stories began to be translated into English as early as 1846. Since then, numerous editions, and more recently Hollywood songs and Disney cartoons, have helped to ensure the continuing popularity of the stories in the English-speaking world.
About Rick Adamson
Rick
Adamson is an award-winning voice artist with more than twenty years’
experience in voiceovers, spoken word events, event announcing, and children’s
media, as well as commercials for well-known international corporations. He has
narrated numerous television and film documentaries, including Croatia, co-narrated with Martin Sheen.
His audiobook narration includes more than two dozen major books, as well as
dozens of early-reader titles for juveniles. He won the prestigious Audie Award
in 2011 for Best Inspirational/Faith-Based Fiction for In a Heartbeat, and he was among the finalists for the 2006 Audie
Award for Best Personal Development/Motivational Work for Younger Next Year. He earned an AudioFile Earphones Award for the
ensemble narration of Rough Water.