Changes

Roosevelt's Treasury Secretary, [[Henry Morgenthau, Jr.]] believed in balanced budgets, stable currency, reduction of the national debt, and the need for more private investment. Morgenthau accepted Roosevelt’s  double budget as legitimate–that is a balanced regular budget, and an “emergency” budget for agencies, like the [[WPA]], [[PWA]], and [[Civilian Conservation Corps|CCC]], that would be temporary until full recovery was at hand.  He fought against the veterans’ bonus until Congress finally overrode Roosevelt’s veto and gave out $2.2 billion in 1936. Morgenthau's most notable achievement was the new [[Social Security]] program; he managed to reverse the proposals to fund it from general revenue and insisted it be funded by new taxes on employees.  Morgenthau insisted on excluding farm workers and domestic servants from Social Security because workers outside industry would not be paying their way.<ref>Zelizer, "The Forgotten Legacy of the New Deal: Fiscal Conservatism and the Roosevelt Administration, 1933-1938." (2000).</ref>

Roosevelt's Treasury Secretary, [[Henry Morgenthau, Jr.]] believed in balanced budgets, stable currency, reduction of the national debt, and the need for more private investment. Morgenthau accepted Roosevelt’s  double budget as legitimate–that is a balanced regular budget, and an “emergency” budget for agencies, like the [[WPA]], [[PWA]], and [[Civilian Conservation Corps|CCC]], that would be temporary until full recovery was at hand.  He fought against the veterans’ bonus until Congress finally overrode Roosevelt’s veto and gave out $2.2 billion in 1936. Morgenthau's most notable achievement was the new [[Social Security]] program; he managed to reverse the proposals to fund it from general revenue and insisted it be funded by new taxes on employees.  Morgenthau insisted on excluding farm workers and domestic servants from Social Security because workers outside industry would not be paying their way.<ref>Zelizer, "The Forgotten Legacy of the New Deal: Fiscal Conservatism and the Roosevelt Administration, 1933-1938." (2000).</ref>

In World War Two there was broad agreement for heavy taxes, with conservatives insisting that the income tax base be broadened to include the great majority, rather than the 10% who before 1942 paid all income taxes.<ref>Leff, "The Politics of Sacrifice on the American Home Front in World War II," (1991)</ref> After 1945 fiscal conservatism was most prevalent in the [[Conservative Coalition]], including Midwestern Republicans and most southern Democrats, especially senators [[Harry F. Byrd]] of Virginia, and [[Walter F. George]] of Georgia.

In World War Two there was broad agreement for heavy taxes, with conservatives insisting that the income tax base be broadened to include the great majority, rather than the 10% who before 1942 paid all income taxes.<ref>Leff, "The Politics of Sacrifice on the American Home Front in World War II," (1991)</ref> After 1945 fiscal conservatism was most prevalent in the [[Conservative Coalition]], including Midwestern Republicans and most southern Democrats, especially senators [[Harry F. Byrd]] of Virginia, and [[Richard Russell, Jr.]] and [[Walter F. George]] of Georgia.

===The Reagan era===

===The Reagan era===