A Chronology Of Postwar U.S. Federal Income Tax Policy

Shu-Chun Yang

No 2007-021, CAEPR Working Papers from Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington

Abstract: This note provides a chronology of major tax events that involved changes in federal taxes on individual and corporate income from 1948 to 2006. For each event, the note provides background and policy motivation, major provisions, legislative timeline, and estimated revenue changes. As most tax changes were preceded by extensive legislative delays, this chronology suggests that people were likely to have foreknowledge about tax policy. It also finds that postwar income tax policy was typically motivated by one of three rationales: 1) balancing the budget or reducing deficits, 2) controlling inflation, and 3) stimulating economic activity or promoting growth.

Keywords: Policy Foresight; Timeline of Tax Events; Tax Policy; Fiscal Policy (search for similar items in EconPapers)
JEL-codes: E61 E62 N42 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2007-10
New Economics Papers: this item is included in nep-his, nep-mac, nep-pbe and nep-pub
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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