Robert Lekachman

  • Free to Argue

  • What's Up With Taxes

    The 1964 federal tax cut to stimulate the economy had barely begun to be felt when economists and government officials began talking about the possible necessity of raising taxes again in order to curb inflation. The discussion of ups and downs may seem academic now that the costs of the war in Vietnam, rather than economic theory, provide the reason for tax increases. But it is pertinent to the New Economics and its approach to the manipulation of taxation to perform tasks other than the financing of government. In this essay, the chairman of the department of economics at the University of New York at Stony Brook explains why.