How the antitax fringe went mainstream—and now threatens
America’s future The postwar United States enjoyed large, widely
distributed economic rewards—and most Americans accepted that
taxes were a reasonable price to pay for living in a society of
shared prosperity. Then in 1978 California enacted Proposition 13,
a property tax cap that Ronald Reagan hailed as a “second
American Revolution,” setting off an antitax, antigovernment wave
that has transformed American politics and economic policy. In The
Power to Destroy, Michael Graetz tells the story of the antitax
movement and how it holds America hostage—undermining the
nation’s ability to meet basic needs and fix critical problems.
In 1819, Chief Justice John Marshall declared that the power to tax
entails “the power to destroy.” But The Power to Destroy argues
that it is tax opponents who now wield this destructive power.
Attacking the IRS, protecting tax loopholes, and pushing tax cuts
from Reagan to Donald Trump, the antitax movement is threatening
the nation’s social safety net, increasing inequality, ballooning
the national debt, and sapping America’s financial strength. The
book chronicles how the movement originated as a fringe enterprise
promoted by zealous outsiders using false economic claims and
thinly veiled racist rhetoric—and how, abetted by conservative
media and Grover Norquist’s “taxpayer protection pledge,” it
evolved into a mainstream political force. The important story of
how the antitax movement came to dominate and distort politics, and
how it impedes rational budgeting, equality, and opportunities, The
Power to Destroy is essential reading for understanding American
life today.
General
| Imprint: |
Princeton University Press
|
| Country of origin: |
United States |
| Release date: |
February 2024 |
| Firstpublished: |
2024 |
| Authors: |
Michael J. Graetz
|
| Dimensions: |
235 x 156mm (L x W) |
| Pages: |
352 |
| ISBN-13: |
978-0-691-22554-8 |
| Categories: |
Books
|
| LSN: |
0-691-22554-0 |
| Barcode: |
9780691225548 |
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