Happy Tax Day!

Today, paying taxes is just something we do. For the most part, we are compliant with taxes and rush to the post office to send them in so we can go enjoy our tax day freebies thanks to companies trying to put some joy into (and get some profit out of) this non-holiday.

Our colonial forefathers would probably use any expletive rather than the word ‘happy’ in front of the word ‘tax’. Read up on what the sentiment around taxes used to be like and how it helped start a revolution.

Taxation in Colonial America by Alvin Rabushka

Taxation in Colonial America examines life in the thirteen original American colonies through the revealing lens of the taxes levied on and by the colonists. Spanning the turbulent years from the founding of the Jamestown settlement to the outbreak of the American Revolution, Alvin Rabushka provides the definitive history of taxation in the colonial era, and sets it against the backdrop of enormous economic, political, and social upheaval in the colonies and Europe.

Rabushka shows how the colonists strove to minimize, avoid, and evade British and local taxation, and how they used tax incentives to foster settlement. He describes the systems of public finance they created to reduce taxation, and reveals how they gained control over taxes through elected representatives in colonial legislatures. Rabushka takes a comprehensive look at the external taxes imposed on the colonists by Britain, the Netherlands, and Sweden, as well as internal direct taxes like poll and income taxes. He examines indirect taxes like duties and tonnage fees, as well as county and town taxes, church and education taxes, bounties, and other charges. He links the types and amounts of taxes with the means of payment–be it gold coins, agricultural commodities, wampum, or furs–and he compares tax systems and burdens among the colonies and with Britain.

This book brings the colonial period to life in all its rich complexity, and shows how colonial attitudes toward taxation offer a unique window into the causes of the revolution.

Zoltan Acs on “Why Philanthropy Matters”

…For wealth to invigorate the capitalist system it needs to be “kept in rotation” like the planets around the sun, and for this task American philanthropy is very well suited. Examining the dynamics of American-style capitalism since the eighteenth century, philanthropy achieves three critical outcomes. It deals with the question of what to do with wealth–keep it, tax it, or give it away. It complements government in creating public goods. And, by focusing on education, science, and medicine, philanthropy has a positive effect on economic growth and productivity. Individuals such as Benjamin Franklin, Andrew Carnegie, Bill Gates, Michael Bloomberg and Oprah Winfrey have used their wealth to establish institutions and promote knowledge, and philanthropy has given an edge to American-style capitalism by promoting vital forces–like university research–necessary for technological innovation, economic equality, and economic security.

Philanthropy is therefore an invisible, underappreciated force for progress in American-style capitalism–the secret ingredient that fails to get mentioned in economic accounts of capitalism…

Source: “Why Philanthropy Matters” at History News Network

 

Zoltan Acs has a great article on the themes of his forthcoming book Why Philanthropy Matters over at History News Network.

bookjacket

Why Philanthropy Matters
How the Wealthy Give, and What It Means for Our Economic Well-Being
Zoltan J. Acs

 

Daniel Stedman Jones on Masters of the Universe

Stedman-Jones-at-LSE-3[3]Princeton author Daniel Stedman Jones had a busy day on 16th January promoting his recently published ‘Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics’. In the afternoon he appeared on BBC Radio 4′s ‘Thinking Allowed’ and that evening he was the lead speaker at a public lecture based around the book at the London School of Economics where his respondents were Professor Lord Skidelsky and Professor Mark Pennington. Please follow the links to catch up with both events.