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War Taxation: Some Comments and Letters cover

War Taxation: Some Comments and Letters

By Otto H. Kahn
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EconomicsEssays, Letters & SpeechesHistory - American

About This Book

The pamphlet collects a revised article and two letters that analyze wartime taxation policy, arguing that very high income tax rates encourage capital flight and incentivize investment in tax-exempt securities by wealthy holders. It presents comparative yield calculations to show how tax-exempt bonds can outperform taxable investments, warns of market dislocation and reduced corporate financing, and examines the tradeoffs of maintaining tax-exempt government borrowing versus higher interest costs. The pamphlet also addresses legal and practical limits on taxing municipal issues and advocates fair war-profits levies alongside measured fiscal policy.

About the Author

Kahn, Otto H. portrait

Otto H. Kahn

Otto H. Kahn was a prominent financier and public figure in the early 20th century, known for his influential writings on economics and public policy. He played a significant role in the financial sector, particularly in the context of the New York Stock Exchange. Kahn's works often addressed the intersection of finance and social issues, as seen in his notable book "Frenzied Liberty; The Myth of 'A Rich Man's War,'" where he critiques the economic motivations behind war. His contributions to discussions on government ownership of railroads and taxation reflect his engagement with contemporary economic debates. Kahn's insights continue to resonate in discussions of finance and public policy.

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