298 



MULTIPLE PURPOSE RIVER DEVELOPMENT 



taxation {see also corporation income 

 tax; excise taxes; personal income 

 tax): 



average tax liability, 109n; 



change in, as change in disposable 

 income, 128; 



on corporate earnings, 227; 



effect of reductions in, on low-in- 

 come families, 92-97, Table, 93; 



estimated taxes, in Hells Canyon de- 

 velopment analysis, 168; 



federal, in lieu of competitive bid- 

 ding, 189; 



financing public investment through, 

 77. 84, 189; 



government tax policy, alternative 

 explanations of, 213; 



high levels of, and waste of eco- 

 nomic resources, 117; 



increases in, offset by real income 

 gains, 240; 



large tax changes, effect of, 89; 



marginal, incidence of, 91; 



marginal rate of, 93, 109n; 



marginal tax dollars, social cost of, 

 88; 



noneconomic reasons for, 99; 



for public investment, as a compul- 

 sory loan, 88; 



shifted tax burdens: 



approach to treatment of, 260n, 



262; 

 equity shareholder as beneficiary 



of, 223, 260, 276; 

 incidence of, by income classes, 



216-17, Tables, 216, 218-19; 

 incidence of, by regions, 223-33, 



261, 262, Tables, 225, 230-31; 

 social cost of, 222; 



state and local tax liabilities, 217; 



tax cut stimulating consumption, 92- 

 101; 



tax cut stimulating investment, 102- 

 17; 



tax money, sources of, 84; 



tax policy, in depression, 119; 



tax shifting (see also shifted tax 

 burdens, supra), 213, 215-23; 

 and accelerated amortization, 220- 



23, 220n, 227, 260; 

 affecting consumers, income and 

 price effect of, 228; 



taxation, cont. 

 tax shifting, cont. 

 costs and gains in, related to ac- 

 celerated amortization, 223n, 

 Table, 261; 

 under federal development, 216-17, 



224; 

 under nonfederal public develop- 

 ment, 217, 223, 224; 

 under private development, 220- 

 23, 224. 227; 

 taxing power of public authority, 

 risks in use of, 273 

 Teele, R. P., 57n, 59, 59n 

 Tennessee River, 3; flow of, fluctuation 



in, 60n; tributaries of, 65n 

 Tennessee Valley Authority, vi, 3, 

 209n; and Alcoa, agreement between, 

 165; -Alcoa hydroelectric projects, 

 65-67, 65n; Table, facing p. 66; costs 

 of power. 210n-211n; dump power, 

 conversion to primary power, 67; flood 

 control, 55; Fontana Agreement, 165; 

 and functional interdependence, 55 

 Thompson, L. E., 105n, 109n, 123n 

 Thurlow Dam, 176, 178 

 tight power supply, 155 

 time distribution, assumed, 152 

 time preferences, 118n, 125. 212. 215; 

 differences in, Fig., 86; factors affect- 

 ing, 87 

 time series analysis, lOOn 

 Tombigbee River, 172. 180, I80n 

 transport costs, 45, 62n, 248, 249-50, 



251 

 trusts, rate of return on, 107-108 

 Tucker, R. S., 99n 

 Tulare County. California, 56 



uncertainty, influence of, on marginal 



efficiency of capital, 47 

 uncompensated costs and gains, 43-44, 



60-61, 76-77, 153, 153n, 266 

 underdeveloped countries, investment 



in, 72n, 74-75 

 underemployment. 72n, 75 

 unincorporated business: income from, 



105; investment, financing of (1955), 



81-82; sources of capital for, 83 

 unit processing costs, 58 

 United States: gross capital formation 



(1955), 80-83, Table, 80; prevailing 



economic-political philosophy, 73n 



