Full version Their Fair Share: Taxing the Rich in the Age of FDR Complete
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Their Fair Share tells the story of New Deal taxation and explains why it matters today. What did Franklin Roosevelt know about progressive taxation that modern politicians don't? Quite a bit, it turns out. FDR understood, for instance, that fairness matters; efficiency is not the only measure of a "good" tax. The modern income tax is a product of this insight. Often frustrating and certainly imperfect, it still reflects popular notions of social equity and economic justice. At the same time, Roosevelt knew that even a regressive tax can serve the cause of progressive government -- as long as the money gets spent well. The Social Security payroll tax is a case in point. And one that today's progressive leaders should take to heart.
Their Fair Share tells the story of New Deal taxation and explains why it matters today. What did Franklin Roosevelt know about progressive taxation that modern politicians don't? Quite a bit, it turns out. FDR understood, for instance, that fairness matters; efficiency is not the only measure of a "good" tax. The modern income tax is a product of this insight. Often frustrating and certainly imperfect, it still reflects popular notions of social equity and economic justice. At the same time, Roosevelt knew that even a regressive tax can serve the cause of progressive government -- as long as the money gets spent well. The Social Security payroll tax is a case in point. And one that today's progressive leaders should take to heart.