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Notes and Reflections on Books and Media

by Hannah Leitheiser

Taxation

The Rise and Fall of the Third Reich: A History of Nazi Germany

William L. Shirer

1960

Link

2018-12-10

"The [German] inflation [following World War I] could have been halted by merely balancing the budget – a difficult but not impossible feat. Adequate taxation might have achieved this, but...the cost of the war...had been met not even in part by direct taxation.... Instead of drastically raising taxes on those who could pay, the republican government actually reduced them in 1921. From then on, goaded by the big industrialists and landlords, who stood to gain though the masses of the people were financially ruined, the government deliberately let the mark tumble in order to free the State of its public debts,...The masses of the people, however, did not realize how much the industrial tycoons, the Army and the State were benefiting from the ruin of the currency. All they knew was that a large bank account could not buy a straggly bunch of carrots, a half peck of potatoes, a few ounces of sugar, a pound of flour." - William L. Shirer, The Rise and Fall of the Third Reich: A History of Nazi Germany (1960)