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The Great Tax Wars: Lincoln to Wilson--The Fierce Battles over Money and Power That Transformed the Nation
Steven R. Weisman Manufacturer: Simon & Schuster ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 0684850680 |
Book Description
A major work of history, The Great Tax Wars is the gripping, epic story of six decades of often violent conflict over wealth, power, and fairness that gave America the income tax. It's the story of a tumultuous period of radical change, from Abraham Lincoln and the Civil War through the progressive era under Theodore Roosevelt and ending with Woodrow Wilson and World War I. During these years of upheaval, America was transformed from an agrarian society into a mighty industrial nation as great fortunes were amassed, militant farmers and workers rebelled against concentrations of vast wealth and power, class war was narrowly averted, and America emerged as a global power.
Award-winning journalist Steven R. Weisman begins his narrative with the Civil War, when Lincoln imposed the nation's first income tax to pay the Union Army and dampen dangerous resentment against bankers, merchants, and factory owners who profited from the war. Repealed by Congress after the war, the tax was reenacted in 1894 to deal with the nation's worst economic collapse until that time. By reducing the government's heavy reliance on tariffs for revenue, the tax benefited farmers in the West and South who were rebelling against the high cost of imports and goods manufactured in the North and East. But a year later, the Supreme Court declared the income tax unconstitutional, plunging the court into one of the worst controversies it has endured and once again pitting region against region and workers and farmers against industrialists. The court's decision also handed populist congressman William Jennings Bryan of Nebraska, who was a champion of the tax, a major issue in his unsuccessful campaign for president in 1896.
The turn of the century brought an outpouring of progressive reforms under President Roosevelt. Toward the end of his term, T.R. proposed an income tax to help break the excessive power of the wealthy and the trusts and banks they controlled, but it took a deal between President William Howard Taft and Congress in 1909, and then ratification of the Sixteenth Amendment to the Constitution, to finally get the tax enacted in 1913. The tax took effect just as Wilson entered the White House and in time to finance America's involvement in World War I.
The Great Tax Wars features an extraordinary cast of characters, including the powerful men who built the nation's industries and the politicians and reformers who battled them -- from J. P. Morgan and Andrew Carnegie to Lincoln, T.R., Wilson, Bryan, and Eugene Debs. From their ferocious battles emerged a more flexible definition of democracy, economic justice, and free enterprise largely framed by a more progressive tax system. Drawing on their words and on newspaper and magazine accounts of the time, Weisman shows how the ever-controversial income tax transformed America and how today's debates about the tax echo those of the past.
Customer Reviews:
The Hobo Philosopher.......2007-09-05
easy taxation reading.......2004-07-08
Taxes can be a taxing topic.......2004-02-12
What is truly interesting about the battles over the income tax is the almost verbatim arguments that have occured against the tax, extending almost to the supply side economics argument popularized by the Regean campaign of 1980. This is fairly close to the arguments that were made in the late 19th and early 20th centuries. Seeing that the basis of the tax argument, on either side hasn't changed much is enlightening when examining current policy debates.
Weisman also provides some interesting insights into the administrations of Roosevelt and Wilson and the politics that surrounded both of them, beyond the taxation issue. Especially noteworthy is Roosevelt's general feeling toward Wilson which extends beyond the issue of raising taxes.
Ultimately, for the discounted price the book is worth the time to read. Buying it at full price, it might not be as worth while.
Good Overview but it lacked something.......2003-07-02
The original income tax was actually a tax cut for many Americans, which may be surprising to modern day anti-tax crusaders. Where Weismann falls flat is examining specifics of how the tax code functioned in the early days and attempting to assess its impact. He seems to devote more energy into providing historical overviews of the period from the Civil War until around the time of the Great Depression (in the end he runs through major changes in the code until the present).
The strongest chapter is probably the review of the the Confederate experiments with various tax schemes and their desperate attempts to keep some financial solvency to their short lived government.
Quite good, but not great.......2003-05-20
The author starts off very strong with the historical presentation of Lincoln, but there are many places where it flagged -- the author lost focus and went on tangents about other, seemingly unrelated historical things, often for "miles and miles" of pages. I'm sure he faced a tough decision in what to include and what not to include, as is the case for any history book because to put it into true perspective you want to include everything -- but you can't. There should have been more judicious cutting here.
The editorial review is also correct: the author didn't ask many important questions in his book, whether overtly or in a more subtle manner. In fact, I kept waiting for the history lesson to end and some more of the author's personality and thoughts to come through, but it didn't happen after the first 1/3 of the book.
Reading this book was quite a lot like watching a (historical re-enactment-style) movie, to be honest, which is good if you just want to know what happened but not if you're looking for an intellectual discussion of "why?" It was a good history lesson, but I will look for other books with a more discussion-oriented bent to round out my newly developed knowledge.
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Mergent's Dividend Achievers Summer 2004: Featuring First-Quarter Results for 2004 (Mergent's Dividend Achievers)
Inc. Mergent Manufacturer: Wiley ProductGroup: Book Binding: Paperback ASIN: 0471663387 |
Book Description
Definitive Guide To Companies That Have Increased Their Cash DividendsPublished four times a year, Mergent's Dividend Achievers features the latest data on a unique universe of companies with a history of regularly rewarding shareholders.
Mergent has been highlighting companies with outstanding dividend records since 1979 and boasts a century of experience in quality financial information publishing. Each quarterly handbook features updated profiles on approximately 300 Dividend Achiever companies, revised with the latest available quarterly earnings results, dividend announcements, and stock prices.
"Mergents Dividend Achievers is one of my favorite bedside thrillers. Here's a simple way to succeed in Wall Street: Buy the stocks on [Mergents] list and stick with them as long as they stay on the list"
—Peter Lynch
Outperform the S&P 500(r)
Mergents Dividend Achievers, profiles approximately 300 U.S. companies that have increased their regular cash dividends annually for the past ten or more consecutive years. These are truly remarkable companies. The average total return of these Dividend Achiever companies has outperformed the S&P 500 for the last 10 years.
"Where should investors start looking for high-quality dividend paying companies? Research from Mergent has an exclusive list of companies that have increased their dividends every year for the past 10 years."
—Steve Liesman, CNBC, senior economics reporters on Squakbox
Build a Winning Portfolio
From our Dividend Achievers, you can put together an extraordinary, diversified portfolio. They include large capitalization, mid-cap, and small-cap companies. The companies represent more than 50 different industries, from consumer goods to real estate to utilities.
For each Dividend Achiever Company, our handbook provides a full-page profile with in-depth investment criteria, including a stock performance chart, dividend record, business description, seven years of financial results and ratios, analysis of recent developments and more. With just a glance, you can see how the company has done in the past and decide whether you want to investigate further.
Plus, there are special features, such as a dividend reinvestment plan indicator on each page, Dividend Achiever arrivals and departures, Dividend Achiever name changes, Dividend Achiever mergers and acquisitions, as well as web site and investor contact information on each page.
"[Mergents Dividend Achievers] is the valuable source for high-quality stocks that pay great dividends"
— Len Kuker, Senior Vice President, Morgan Stanley
Unique Rankings
Companies are classified by industry. This edition includes numerous valuable rankings, such as 10-year average annual dividend growth rate, one, three, and five year total returns, top 20 return on equity and return on assets along with top 20 rankings by revenue, net income, total assets, long-term and short-term price scores, highest and lowest P/E ratios and more!
A Great Investment Has Become Even Better
And now, with new tax law changes slashing dividend taxes, investing in Dividend Achiever companies has never been better! Our Dividend Achievers will provide low-taxed income today and perhaps low-taxed capital gains tomorrow.
Historically, dividend income has been taxed at your highest rate. Under the prior tax law, as much as 38.60f dividend income could go to the IRS. The 2003 tax act changed the rules. Now, corporate dividends paid to individuals generally are taxed at ultra-low tax rates. Most investors will pay only 15% tax on dividend income. Investors in the lowest federal tax brackets will pay only 5% tax on dividends. This rate may apply to retirees whose income drops after they stop working. In 2008, those low-bracket taxpayers will owe no federal income tax on dividends they receive. What's more, if you need to sell your dividend-paying stocks, any long-term gains will qualify for those same bargain tax rates: 15%, 5%, or even 0 0n 2008.
How Does a Company Become a Dividend Achiever?
Many thousands of companies pay dividends to shareholders. Fewer than 300 U.S. companies qualified as Dividend Achievers in 2003. In fact, only 2.50f all the publicly-traded, dividend-paying U.S. companies qualify as Dividend Achievers!
To make our final cut, only high-quality companies that have increased their regular dividends for 10 years in a row are chosen from an exclusive list. Thats right...during the boom times of the late 1990s and the struggles of the early 21st century, our Dividend Achievers have steadily taken in more cash and paid higher dividends to investors. In fact, most of our Dividend Achievers have more than 20 years of higher dividends. Truly, the companies on our list have proven to be the top tier of U.S. industry.
Order Your Copy Today
For this edition of Mergents Dividend Achievers, our analysts have updated the profiles on approximately 300 Dividend Achievers, which includes high-yielding companies that can produce higher returns, after tax, than municipal bonds.
"I have been using and writing about Dividend Achievers handbook for more than 11 years, and I believe that it is one of the few true bargains in the arena of independent investment research."
—Laureen Rudd, syndicated columnist, writing in the Sarasota Tribune
A Century of Providing Trusted Information
For over a century, Mergent has been the preferred source for global business and financial information. Providing comprehensive data to savvy investors — both novice and professional — Mergent offers the easy way to pick specific stocks that excel at paying dividends and piling up profits.
Customer Reviews:
great resource.......2001-11-22
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Working: Its Meaning and Its Limits (The Ethics of Everyday Life)
Manufacturer: University of Notre Dame Press ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 0268019622 |
Customer Reviews:
A Classic Approach To Work.......2000-12-09
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WORKING: ITS MEANING AND ITS LIMITS.(Review) (book review): An article from: First Things: A Monthly Journal of Religion and Public Life
Alan Jacobs Manufacturer: Institute on Religion and Public Life ProductGroup: Book Binding: Digital ASIN: B0008HUFC8 Release Date: 2005-07-28 |
Book Description
This digital document is an article from First Things: A Monthly Journal of Religion and Public Life, published by Institute on Religion and Public Life on May 1, 2001. The length of the article is 5554 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Working Its Meaning and Its Limits
Gilbert C. (EDT) Meilaender Manufacturer: University of Notre Dame Press ProductGroup: Book Binding: Paperback ASIN: B000ORDLXC |
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Working: Its Meaning and Its Limits (The Ethics of Everyday Life)
Gilbert C Meilaender Manufacturer: University of Notre Dame Press ProductGroup: Book Binding: Paperback ASIN: B000ORF7JI |
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The EVA Challenge: Implementing Value Added Change in an Organization
Joel M. Stern , John S. Shiely , and Irwin Ross Manufacturer: Wiley ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 0471405558 |
Book Description
The co-founder of EVA shows how to apply it in today's new economyEVA-economic valued added-is a measure of the true financial performance of a company, and a strategy for creating corporate and shareholder wealth. It is also a method of changing corporate priorities and behavior throughout a company, right down to the "shop floor." In The EVA Challenge, the authors outline how to implement EVA-from training employees to answering the most frequently encountered implementation problems faced by companies.
This detailed "how-to" guide represents the second phase in the "EVA Revolution", showing executives around the world how to customize and implement EVA at their companies. Here, EVA converts learn how to work some "EVA magic" through company-specific initiatives and case study examples. Coverage includes completely new materials on "real options", leveraged stock options, and other concepts critical to corporations in both new and old economy industry sectors.
Customer Reviews:
Highly Recommended!.......2002-04-08
Aligning Shareholder and Manager Interests.......2002-03-02
Second, generally accepted accounting principles do not align expenses with benefits, distorting economic reality. As a result, investors who want to compare the cash they can take out of a company with the cash they have invested are hampered.
The authors argue Economic Value Added (EVA) is a true measure of a company's economic performance, in addition to being a strategy for creating shareholder value. Properly implemented, they state, EVA frees the measurement of corporate performance from the vagaries of accounting principles and gives both shareholders and management a clear picture of the value the company creates.
EVA is the profit that remains after deducting the cost of the capital invested to generate that profit or EVA = Net Operating Profit After-Tax minus capital charge. Effectively implemented, the tool becomes the basis for an incentive plan that rewards managers for actions that increase shareholder returns and vice versa.
John S. Shiely, president of Briggs and Stratton and co-author of the book, notes this strategy provided the foundation of his company's turnaround. In 1989, the world's largest producer of air-cooled engines had an EVA of negative $62 million based on $1.3 billion in sales. By re-organizing and focusing its strategy while developing its EVA program, the company staged a dramatic turnaround. By 1999, it reported a record positive EVA of $50.9 million. Shareholders, who bought $100 worth of stock at the beginning of the program, saw it increase in value to $673 in 1999.
The authors claim EVA is ideal for knowledge-based companies making heavy infrastructure investments today for any anticipated return later. EVA treats cash outlays that represent investments as capital rather than expenses. The capital in these knowledge based industries consists of research, development, marketing, advertising and start-up costs. Accounts view these expenditures as expenses, but it is realistic to capitalize them and amortize them over their useful lives.
EVA from a Senior Management Perspective.......2001-10-23
I was hoping the book would deal with more of the matamatics associated with defining EVA in relation to various projects and business decisions. This book contailed very little information in this regard.
What Is Your Organization's Net Worth?.......2001-04-14
More specifically:
"It is the framework for a complete financial management and incentive compensation system that can guide every decision a company makes...that can transform corporate culture, that can
improve the working lives of everyone in an organization by making them more successful, and that can help them produce greater wealth for shareholders, customers, and themselves."
Stern and Shiely (with Irwin Ross) focus on the specific challenges which will probably be encountered when initiates are taken to implement value-added change in an organization. They suggest all manner of strategies and tactics to achieve that objective, agreeing with O'Toole's key points in Leading Change when he analyzes what he calls "the ideology of comfort and the tyranny of custom."
For the authors of this book, there have been two major developments in American capitalism which explain why "the opportunity cost of capital" has been miscalculated: "(1) the split between ownership and control of publicly held corporations and (2) the widespread acceptance of accounting measurements [i.e. GAAP] to gauge corporate value, a purpose for which they were never intended." Having defined and then analyzed various problems in Chapter 1, the authors proceed into 12 more chapters whose titles suggest their focal points: The Solution, The Need for a Winning Strategy and Organization, The Road Map to Value Creation, The Changes wrought by EVA, Extending EVA to the Shop Floor [an absolute imperative], Getting the Message Out: Training and Communications, EVA and Acquisitions, EVA Incentives, How EVA Can Fail [and it does...the authors explain why], New Frontiers: real Options and Forward-Looking Eva, 25 Questions [which must be answered fully or forget about EVA], and finally, a Recipe for Success. The book then provides its own value-added benefit: an Epilogue written by Gregory V. Milano which discusses EVA and the "New Economy."
Briefly, I would like to comment on Chapter 13 which offers a "Recipe for Success." The authors introduce and explain six key factors. Having already acknowledged various forms of resistance and resentment which implementation of EVA principles may well encounter, the authors understand full well that these factors may offer the promise of success but by no means guarantee it. They are:
1. "The company must have a viable business strategy and appropriate organizational architecture before EVA can boost performance."
2. To achieve full potential of EVA, a company should install all of EVA's components -- a measurement system, a management system, and an incentive system."
3. An EVA incentive plan is essential, and it should reach as far down in the organization as possible."
4. "A comprehensive training program is equally essential. It should not be limited to top executives but should infiltrate all managerial levels and, ideally, reach down to the shop floor."
5. "The EVA program must have the full and fervent backing of the CEO, who should chair all the all-important steering committee that puts EVA in place."
6. "The CFO and/or the controller should be equally committed. Because they have to deal simultaneously with standard accounting practices, these specialists may have an even greater problem focusing on value creation than a CEO newly introduced to EVA."
Stern and Shiely (with Ross) offer a comprehensive, cohesive, and cost-effective program which, after appropriate modification, can be of substantial benefit to almost any organization, regardless of its size or nature. Milano's insights are especially important in 2001 as so many organizations are attempting (with mixed success) to reconcile the basic principles of the so-called "Old" and "New" economies. (I hope they or Ehrbar next write a book which explains how EVA can be of greatest benefit to privately-owned smaller companies.) Drucker was right: "Until a company returns a profit that is greater than its cost of capital, it operates at a loss." We have all manner of mechanisms by which to determine the exact net worth of an individual executive. Properly understood, EVA principles can do the same for an organization IF if those who lead that organization are guided and informed by the aforementioned "six key factors." If you share my high regard for this book as well as Ehrbar's, you are urged to check out Fitz-enz's The ROI of Human Capital.
THE big picture of EVA concept.......2001-04-11
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Challenge of Management Accounting Change (CIMA Research)
John Burns , Mahmoud Ezzamel , and Robert Scapens Manufacturer: CIMA Publishing ProductGroup: Book Binding: Paperback ASIN: 075066004X |
Book Description
The implementation of management accounting change constitutes much more than the selection of what may be perceived as being 'optimal' accounting systems and techniques, followed by a 'technical' process of implementation. Selecting and implementing the 'right' accounting systems and techniques and the technical aspects of implementation are important, but change implementation and change management also involves important behavioural and cultural issues that must be understood and addressed. The main focus of The Challenge of Management Accounting Change is on understanding the processes involved in the implementation of management accounting change and the complexities of, and difficulties involved in, changing management accounting systems, techniques and roles in the UK.
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Nurturing Change through Your Human Assets: Optimising Organisational Challenges in the New Millennium (Response Books)
Madhurendra K Varma Manufacturer: Sage Publications Pvt. Ltd ProductGroup: Book Binding: Hardcover ASIN: 076199467X |
Book Description
The key theme of this timely book is the inevitability and desirability of change. The author emphasises that change can be an opportunity, not a threat and it is for organizations to nurture change and give shape to it on their own terms with optimum use of their human assets.Customer Reviews:
Nurturing Change is really an ASSET.......2001-03-20
managers to reorient their attitudes and values in consonance with the changes that are churning our current environment. Although the scenario of the book is India and the situations typical of a developing economy, the lessons drawn are definitely universal in their appeal and application. All through its eleven chapters, the book emphasizes that the instrument of HRD and role crystallization, combined with the pursuit of ethical practices, can provide the keys to excellence - both for the manager and his organization. The book includes several interesting and instructive examples, caselets as well as anecdotes and reflections featured in boxes. These features not only make a very interesting reading, but they also add up to making the book convincingly persuasive. Above all, a very practical approach permeates the entire book. The book will appeal to CEOs, HR managers, change agents and consultants. It can also be used in management development programs as also a reference for courses on change management."
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Continuity, challenge, change ... and a record of accomplishment.(President's page): An article from: Tax Executive
Michael P. Boyle Manufacturer: Thomson Gale ProductGroup: Book Binding: Digital ASIN: B000I0RI4S Release Date: 2006-08-23 |
Book Description
This digital document is an article from Tax Executive, published by Thomson Gale on May 1, 2006. The length of the article is 1639 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Organizational performance challenges: how budgets, cost models, management dashboards and continuous improvement are used today--and what needs to change. : An article from: CMA Management
Hugues Boisvert Manufacturer: Thomson Gale ProductGroup: Book Binding: Digital ASIN: B000F7CK8I Release Date: 2006-03-28 |
Book Description
This digital document is an article from CMA Management, published by Thomson Gale on February 1, 2006. The length of the article is 1955 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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A secure utility: utility computing is going to change the way many companies invest in IT. With the change comes some new security challenges. Is your ... Technology): An article from: CMA Management
Jacob Stoller Manufacturer: Thomson Gale ProductGroup: Book Binding: Digital ASIN: B00082HSDC Release Date: 2005-10-14 |
Book Description
This digital document is an article from CMA Management, published by Thomson Gale on April 1, 2004. The length of the article is 1276 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Understanding avoidance: GAAR changes and challenges impact taxpayers doing business internationally. Unfortunately, the new landscape has yet to be defined.(tax ... Rule): An article from: CMA Management
Stan Zinman Manufacturer: Thomson Gale ProductGroup: Book Binding: Digital ASIN: B000ALOGE0 Release Date: 2006-07-14 |
Book Description
This digital document is an article from CMA Management, published by Society of Management Accountants of Canada on February 1, 2005. The length of the article is 1266 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Who will pay? Time is ticking away to solve long-term fiscal challenges posed by aging societies, climate change, and other problems.: An article from: Finance & Development
Peter S. Heller Manufacturer: International Monetary Fund ProductGroup: Book Binding: Digital ASIN: B0008E69IK Release Date: 2005-07-31 |
Book Description
This digital document is an article from Finance & Development, published by International Monetary Fund on September 1, 2003. The length of the article is 2670 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Books:
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