Block, SkipCaptcha, Automoderated users, Bots, edit
57,719
edits
Changes
Jump to navigation
Jump to search
Line 30:
Line 30: − + Line 53:
Line 53: − + − +
Spelling, grammar, and general cleanup, typos fixed: ’s → 's (2), 359-81 → 359–81 (2)
During the 1930s [[Franklin Roosevelt]]'s [[New Deal]] was opposed by many conservatives because it expanded the scope of the federal government, and regulated the economy. In general Roosevelt did not raise taxes above the high levels Hoover had set; the national debt changed little from 1933 to 1940 as a proportion of GDP.<ref>Stein, ''Presidential Economics: The Making of Economic Policy From Roosevelt to Clinton'' (1994)</ref>
During the 1930s [[Franklin Roosevelt]]'s [[New Deal]] was opposed by many conservatives because it expanded the scope of the federal government, and regulated the economy. In general Roosevelt did not raise taxes above the high levels Hoover had set; the national debt changed little from 1933 to 1940 as a proportion of GDP.<ref>Stein, ''Presidential Economics: The Making of Economic Policy From Roosevelt to Clinton'' (1994)</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>
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 [[Richard Russell, Jr.]] 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.
* Kimmel, Lewis. ''Federal budget and fiscal policy, 1789-1958.'' (1959).
* Kimmel, Lewis. ''Federal budget and fiscal policy, 1789-1958.'' (1959).
* Krol, Robert. "The Role of Fiscal and Political Institutions in Limiting the Size of State Government," ''The Cato Journal'', Vol. 27, 2007. [http://www.questia.com/read/5026702917?title=The%20Role%20of%20Fiscal%20and%20Political%20Institutions%20in%20Limiting%20the%20Size%20of%20State%20Government online edition]
* Krol, Robert. "The Role of Fiscal and Political Institutions in Limiting the Size of State Government," ''The Cato Journal'', Vol. 27, 2007. [http://www.questia.com/read/5026702917?title=The%20Role%20of%20Fiscal%20and%20Political%20Institutions%20in%20Limiting%20the%20Size%20of%20State%20Government online edition]
* Leff, Mark. "Taxing the 'forgotten man': The politics of Social Security finance in the New Deal." ''Journal of American History'' 70 (1983): 359-81. [http://links.jstor.org/sici?sici=0021-8723(198309)70%3A2%3C359%3ATT%22MTP%3E2.0.CO%3B2-L online in JSTOR]
* Leff, Mark. "Taxing the 'forgotten man': The politics of Social Security finance in the New Deal." ''Journal of American History'' 70 (1983): 359–81. [http://links.jstor.org/sici?sici=0021-8723(198309)70%3A2%3C359%3ATT%22MTP%3E2.0.CO%3B2-L online in JSTOR]
* Leff, Mark H. "The Politics of Sacrifice on the American Home Front in World War II," ''The Journal of American History,'' Vol. 77, No. 4 (Mar., 1991), pp. 1296–1318 [http://links.jstor.org/sici?sici=0021-8723(199103)77%3A4%3C1296%3ATPOSOT%3E2.0.CO%3B2-H in JSTOR]
* Leff, Mark H. "The Politics of Sacrifice on the American Home Front in World War II," ''The Journal of American History,'' Vol. 77, No. 4 (Mar., 1991), pp. 1296–1318 [http://links.jstor.org/sici?sici=0021-8723(199103)77%3A4%3C1296%3ATPOSOT%3E2.0.CO%3B2-H in JSTOR]
* Lind, Michael. ''Hamilton's Republic: Readings in the American Democratic Nationalist Tradition'' (1997)
* Lind, Michael. ''Hamilton's Republic: Readings in the American Democratic Nationalist Tradition'' (1997)
* Morgan, Iwan W. ''Deficit government: Taxing and spending in modern America.'' (1995). [https://www.amazon.com/Deficit-Government-Spending-America-American/dp/1566630827/ref=sr_1_2?ie=UTF8&s=books&qid=1201126591&sr=8-2 excerpt and text search]
* Morgan, Iwan W. ''Deficit government: Taxing and spending in modern America.'' (1995). [https://www.amazon.com/Deficit-Government-Spending-America-American/dp/1566630827/ref=sr_1_2?ie=UTF8&s=books&qid=1201126591&sr=8-2 excerpt and text search]
* Peltzman, Sam. "Voters as Fiscal Conservatives," ''The Quarterly Journal of Economics,'' Vol. 107, No. 2 (May, 1992), pp. 327–361 [http://links.jstor.org/sici?sici=0033-5533(199205)107%3A2%3C327%3AVAFC%3E2.0.CO%3B2-P in JSTOR]
* Peltzman, Sam. "Voters as Fiscal Conservatives," ''The Quarterly Journal of Economics,'' Vol. 107, No. 2 (May, 1992), pp. 327–361 [http://links.jstor.org/sici?sici=0033-5533(199205)107%3A2%3C327%3AVAFC%3E2.0.CO%3B2-P in JSTOR]
* Sargent, James E. "Roosevelt's Economy Act: Fiscal conservatism and the early New Deal." ''Congressional Studies'' 7 (winter 1980): 33-51.
* Sargent, James E. "Roosevelt's Economy Act: Fiscal conservatism and the early New Deal." ''Congressional Studies'' 7 (winter 1980): 33–51.
* Savage, James D. ''Balanced budgets & American politics.'' (1988).
* Savage, James D. ''Balanced budgets & American politics.'' (1988).
* Stein, Herbert. ''Presidential Economics: The Making of Economic Policy From Roosevelt to Clinton'' (3rd ed. 1994) [https://www.amazon.com/Presidential-Economics-3rd-Economic-Roosevelt/dp/0844738514/ref=sr_1_3?ie=UTF8&s=books&qid=1201126773&sr=8-3 excerpt and text search]
* Stein, Herbert. ''Presidential Economics: The Making of Economic Policy From Roosevelt to Clinton'' (3rd ed. 1994) [https://www.amazon.com/Presidential-Economics-3rd-Economic-Roosevelt/dp/0844738514/ref=sr_1_3?ie=UTF8&s=books&qid=1201126773&sr=8-3 excerpt and text search]