Tag: economics

  • Economic Conundrum: Historic Case Study

    When Warren Harding took office in 1921, America was drowning in debt. World War I had pushed the top income tax rate from 7 percent to a staggering 77 percent, and both parties agreed the system was unsustainable (Republican Platform, 1920). Treasury Secretary Andrew Mellon proposed a solution called “Scientific Taxation” based on the simple…