Customer Reviews

Taxation: The People's Business

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This was an outstanding commentary on how taxiation should work.The purpose of the book purchase was to look at Mellon's theory on taxiation. Andrew Mellon did a wonderful job in framing his economic opinion. There are many theories on this particular subject and this one needs to be reviewed by all that have any skin in this game. What was interesting is I pulled up taxiation data from Mellon's time, Kennedy, Reagan and George W. Bush. In every instance revenues went up. The unfortunate side was that often spending then rose faster. In the last year and 1/2 of Bush's presidency revenues were decreasing. It should be noted that we were sliding into a significant recession; the result of which people are still parcelling out blame. I would finish with this; I wish more books were written in this manner. I found it refreshing. You don't have to agree with the theory, I do.

Considering the economic times we have experienced over the last few years, this book will make you think about the impact taxation and debt has on the growth of the economy. Andrew Mellon was Calvin Coolidge's Treasury Secretary. Under Mellon's plan the nation averaged a 3.3% unemployment rate, a 1% inflation rate and had a one billion dollar surplus (that's right I said surplus) every year Coolidge was president to which he paid off six billion dollars of debt left over from the first World War. Well worth the time to read.

A nice historical piece, and great if you collect economic history and trivia...but his ideas don't actually work. For a collector only, not for someone who wants to understand the economy.