Journal Article Does the Consumer Benefit from Price Instability? Get access L. D. Howell L. D. Howell Bureau of Agricultural Economics, Washington, D. C. Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 59, Issue 2, February 1945, Pages 287–295, https://doi.org/10.2307/1884829 Published: 01 February 1945

Abstract Reviews the book "Introduction to Income Taxation," by James M. Henderson.

Abstract A war period, without doubt, is a poor time for observing and raising questions concerning expenditure controls in the Federal government. I have made no attempt to indicate the controls surrounding the procurement of the materials of war or even of peacetime supplies and equipment, which are subjects by themselves, and time has not permitted bringing out details of expenditure procedures. Nevertheless, sufficient general ground may have been covered to warrant a number of conclusions in which accountants should be interested.

Abstract Reviews the book "The Economics of Peace," by Kenneth E. Boulding.

Abstract The article presents information on the development of aptitude tests for accountants. The conviction prevails among certified public accountants that their profession stands on the threshold of great opportunity. To cross that threshold, to take advantage of the opportunity, they foresee that they will need strength and versatility. A profession can be no stronger than its personnel. The accountants in public practice frankly recognize that in order to keep pace with the demands which seem certain to be made upon the profession the coming generation of accountants will have to be better than the present one. These considerations have intensified the interest of practicing accountants in the question of how to get the best available men for their staffs and train them as rapidly as possible to assume positions of leadership. This heightened interest has been given formal expression in a project in selection of personnel, launched by the American Institute of Accountants in January 1944, which may profoundly affect the future of the profession.

Abstract Reviews the book "War Profits Taxation and Special Wartime Reserves," by J. Keith Butters.

Abstract Reviews the book "Excess Profits Tax Relief : The Cyclical Provisions," by Joseph L. Snider.

Abstract The article presents information on the standards for certified public accountant (CPA) legislation. The wide diversity which still exists among state CPA laws and regulations indicates the need for future changes. Many of these changes will probably come about through regulations established by the state boards of accountancy. Others must of necessity be accomplished by action of state legislatures. There is an especial need to solve the problems of interstate practice, restrictive legislation and education for the profession. It is desirable that improvements be made in other sections also in order that legislative and administrative requirements shall be as uniform as possible at a high standard throughout the United States. Efforts to improve CPA legislation have taken three forms: (1) the expression of approval or disapproval of the state laws in connection with admitting certificate holders to membership in national accounting organizations, (2) the adoption of uniform examinations for candidates and (3) the preparation of model legislation.

Abstract It has been inferred by critics of the Federal Administration that Federal taxes have been imposed for some reason other than revenue. While there is enough truth in this inference to make it generally acceptable, still it must perhaps be admitted that revenue has been the primary purpose for Federal taxes. The charge has been made, and fairly, that "New Deal" taxes have brought about bad economic results. The cure for these bad results has been suggested to be "Taxation for revenue only" which suggestion carries the inference that tax laws should be framed without consideration of anything but the revenue to be obtained. The fallacy here is plain. It has been suggested recently from more than one quarter that the general welfare would be enhanced if accountants would take a more active interest in the field of economic thought and exert a benevolent influence on legislation affecting national and international economics. It should be recognized that productive enterprise is "the goose that lays the golden egg," and that capital investment is the fundamental element of this enterprise. Federal income taxes should not be discriminatory in their effect on such enterprise, rather enterprises should be encouraged to expand to the end that employment, goods, and services adequate to satisfy human needs and wants shall be provided.