The stock market crash - and after

Bibliographic data

Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XI. The Dividends of Prohibition

Collection:: Economics Books

180 The dStock Market Crash—dAnd After tax. The fact that it is a mischievous and parasitic business is, of course, ignored. For every million dollars recovered in taxes by restoring the saloon, the nation would pay many millions directly to the saloons, and many millions more in impaired efficiency of its workers and in productive business replaced by a destructive trafhc. Moreover, in reply to this plea of loss of taxes, to those who allege economic “loss,” Dr. J. M. Doran, Commissioner of Prohibition, on June 15, 1929, met them on their own grounds of government receipts and expenditure. Dr. Doran said: “During the nine years since the effective date of prohibition the expenditures for the Prohibition Bureau, Coast Guard and Customs, incident to the enforcement of the eighteenth amendment, total $141,179,485. The collections from fines and pen- alties and the revenue from taxes on distilled spirits and fermented liquors total $460,502,792.76. “It is apparent that the collections by far over- balance the expenditures. Even if $72,000,000 esti- mated in the pamphlet as the cost to the Department of Justice for the enforcement of prohibition should be added, there would still be a balance of $247,- 324,307.76 over and above the total expenditures accredited to the enforcement of the orohibition law.” Dr. Doran further disputed the accuracy of the $936,000,000 estimate. But from whatever point of view, the argument to the pocketbook of the income taxpaver is not justified.

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