
Contents
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The First Long Swing: Toward an Imperial Commonwealth The First Long Swing: Toward an Imperial Commonwealth
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The Second Long Swing: Toward Corporate Capitalism The Second Long Swing: Toward Corporate Capitalism
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The Third Long Swing: Toward Economic Democracy The Third Long Swing: Toward Economic Democracy
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The Fourth Long Swing: Revival of a Capitalist State, 1945–Present The Fourth Long Swing: Revival of a Capitalist State, 1945–Present
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A Fifth Long-Swing, Post-2016: Toward a New Commonwealth? A Fifth Long-Swing, Post-2016: Toward a New Commonwealth?
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Notes Notes
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Bibliography Bibliography
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17 Tax and Fiscal Regimes in the United States: The Long Swings
Get accessW. Elliot Brownlee is Emeritus Professor of History at the University of California, Santa Barbara. His most recent books are Federal Taxation in America: A History, Third Edition (Cambridge, UK: Cambridge University Press, 2016), and The Political Economy of Transnational Tax Reform: The Shoup Mission to Japan (Cambridge, UK: Cambridge University Press, 2013), coedited with Eisaku Ide and Yasunori Fukagai.
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Published:02 April 2020
Cite
Abstract
This essay traces the long swings in the development of fiscal and tax regimes over the course of American history. The first was a republican swing that began during the colonial era and continued until the Civil War, producing tax systems that relied heavily on tariffs and property taxes. The second was a capitalist-state swing, creating much greater reliance on protective tariffs. This swing began during the Civil War, weakened during the early twentieth century, and continued until the financing of World War I began in 1916. A progressive swing, associated with the rise to fiscal dominance of the income tax, continued through the rest of the twentieth century but weakened significantly after 1945. Another swing began during the late 1970s and produced a “neoliberal” or “retroliberal” regime in the first decade of the twenty-first century.
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