AccountingQueen

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  • MBA.Graduate Psychology,PHD in HRM
    Strayer,Phoniex,
    Feb-1999 - Mar-2006

  • MBA.Graduate Psychology,PHD in HRM
    Strayer,Phoniex,University of California
    Feb-1999 - Mar-2006

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Category > History Posted 07 Sep 2017 My Price 5.00

"The state of Maryland imposed a tax on the bank

Hello, I just need a response to this discussion question

McCullough V. Maryland was one of the most important first cases of Federal Power. Just as we are born to have many growing pain so did the establishment of our country. Congress had just established its second national bank, but many did not wish to have it due to them being afraid that the national bank would take all their business away from their banks in the state. "The state of Maryland imposed a tax on the bank of $15,000/year, which cashier James McCulloch of the Baltimore branch refused to pay. The case went to the Supreme Court. Maryland argued that as a sovereign state, it had the power to tax any business within its borders. McCulloch's attorneys argued that a national bank was "necessary and proper" for Congress to establish in order to carry out its enumerated powers."- Bill of Rights Institute. although when looking at what states could tax, they could not tax the bank and hence it was dropped. the reason is if the state taxed the bank (federal government) then it had the power to taxes its own people and property as well, this is not what individuals wanted.

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Status NEW Posted 07 Sep 2017 06:09 AM My Price 5.00

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