Journal Article
How capital taxes harm economic growth: Britain versus the United States
Abstract: The different methods used by Great Britain and the United States to finance World War II had a significant impact on postwar economic growth in the two countries. In this article, Lee Ohanian discusses the evolution of war-finance policies in the two countries and examines how the different approaches?taxing capital income versus issuing government debt?led to differences in economic performance after the war.
Keywords: Income tax; Great Britain; War - Economic aspects;
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Bibliographic Information
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Business Review
Publication Date: 1997
Issue: Jul
Pages: 17-27