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Erschienen in:
2009 | OriginalPaper | Buchkapitel
Taxation
verfasst von : Bradley A. Hansen
Erschienen in: Institutions, Entrepreneurs, and American Economic History
Verlag: Palgrave Macmillan US
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Pollock v. Farmers’ Loan and Trust Co. (1895) is the most well known of the many Supreme Court cases that the Farmers’ Loan and Trust Company was involved in.1 The decision in Pollock declared that the income tax act enacted the previous year was unconstitutional, and eventually led to the enactment of the Sixteenth Amendment. The 1894 income tax act had been enacted as part of a plan to lower the tariff and shift more of the tax burden on to the wealthier members of society. Conservative newspapers touted the Supreme Court’s decision as a vindication of property rights, while liberal newspapers attacked it as further evidence that men of property controlled the courts.2