John Sophocleus

Tags Taxes and SpendingPolitical Theory

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Sophocleus has taught economics at Clemson University, Auburn University, and Auburn University Montgomery.

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The Issue of Tariffs: How U.S. Revenue Collection Was Turned Inside-Out

Legal SystemTaxes and SpendingU.S. EconomyPolitical Theory

05/20/2005Mises MediaJohn Sophocleus

We went from tariffs being the major source of federal government revenue to what we have today under the income tax and payroll taxes. The time scope is from 1789 to the Great Depression. In 1790, 99.9% of federal government revenue is generated by tariffs – the first year we operate under the...

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