Individual Income Tax: Hearings Before the Committee on Ways and Means, House of Representatives, Seventy-eighth Congress, First Session, on a Proposal to Place Income Tax of Individuals on a Pay-as-you-go Basis. February 2,3,4,5,8,9,10,11,12, and 15, 1943 |
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Page 19
... percent of his income ; with a $ 10,000 net income , he owes $ 2,152 , or 22 percent of his net income ; with a net income of $ 100,000 he owes $ 64,060 , or 64 percent of his net income ; with a net income of $ 1,000,000 he owes ...
... percent of his income ; with a $ 10,000 net income , he owes $ 2,152 , or 22 percent of his net income ; with a net income of $ 100,000 he owes $ 64,060 , or 64 percent of his net income ; with a net income of $ 1,000,000 he owes ...
Page 24
... Percent 76.9 Percent Percent Percent Percent 69.1 75.3 78.5 74.0 Percent Percent 102.0 319.8 B. Increase in tax Revenue Acts 1936-42 ... 76.9 69.1 75.3 78.5 74.0 88.7 106.1 TABLE 4. - Amount of taxes forgiven as a percent of annual net ...
... Percent 76.9 Percent Percent Percent Percent 69.1 75.3 78.5 74.0 Percent Percent 102.0 319.8 B. Increase in tax Revenue Acts 1936-42 ... 76.9 69.1 75.3 78.5 74.0 88.7 106.1 TABLE 4. - Amount of taxes forgiven as a percent of annual net ...
Page 27
... percent . Mr. PAUL . That is right . That three - tenths of 1 percent is the percent of total collections . Mr. COOPER . That is rather interesting to me , to know that the last fiscal year , 1942 , the individual income tax assessments ...
... percent . Mr. PAUL . That is right . That three - tenths of 1 percent is the percent of total collections . Mr. COOPER . That is rather interesting to me , to know that the last fiscal year , 1942 , the individual income tax assessments ...
Page 29
... per- cent of total liability . ( b ) On dividends and interest : 7 percent of gross payment - no exemptions . 4. Allows for family sta- tus and taxpayer " savings portion . " 5. Yes . Wage and salary earners file after end of ...
... per- cent of total liability . ( b ) On dividends and interest : 7 percent of gross payment - no exemptions . 4. Allows for family sta- tus and taxpayer " savings portion . " 5. Yes . Wage and salary earners file after end of ...
Page 36
... percent of the taxpayers ? Mr. PAUL . It would make 70 percent current . Mr. COOPER . It would make 70 percent of the taxpayers current ? Mr. PAUL . That is right . Mr. COOPER . Now , then , we come to the last paragraph , the first ...
... percent of the taxpayers ? Mr. PAUL . It would make 70 percent current . Mr. COOPER . It would make 70 percent of the taxpayers current ? Mr. PAUL . That is right . Mr. COOPER . Now , then , we come to the last paragraph , the first ...
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Common terms and phrases
1942 liability 1942 tax liability 20 percent ability to pay additional assessment asset Beardsley Ruml brackets BRAVMAN BRENCKMAN burden cancelation CARLSON CHAIRMAN collection at source committee Congress COOPER CRAWFORD current basis current income death tax deductions DEWEY DINGELL DISNEY dollars Doughton earned employers estate tax estimated farmer Federal FORAND forgiven forgiveness going Government income-tax debt income-tax return increase individual JENKINS KNUTSON last year's income loss March 15 MCGRANERY McLEAN ment method millions net income normal tax PAUL pay taxes pay their taxes pay-as-you-earn pay-as-you-go basis pay-as-you-go plan pay-as-you-go tax payable payers period PICCHIONE present system problem proposal question receipts received refund Revenue Act RICHMOND ROBERTSON Ruml plan savings statement suggested surtax tax debt tax due tax payments tax rates taxable income taxation tentative tax tion Treasury Victory tax wages and salaries windfall withholding tax year's taxes
Popular passages
Page 408 - If there is no objection on the part of the committee, I would like to ask that they be made part of the record. Mr. JARMAN. The committee would be glad to receive them. (See "Compulsory Commitment Law for Alcoholics,
Page 508 - All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks, or bills of exchange...
Page 507 - ... payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Commissioner...
Page 507 - ... interest, rent, salaries, wages, premiums, annuities, compensation, remuneration, emoluments, or other fixed or determinable gains, profits, and income...
Page 507 - That all individuals, corporations and partnerships, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of the United States, having the control, receipt, custody, disposal, or payment, of interest, rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or...
Page 523 - ... or in the case of the head of a family or a married person living with husband or wife, a personal exemption of $2,500.
Page 188 - I do not think it is fair and I do not think it is in keeping with the spirit of democracy.
Page 519 - In their enlightened belief, nothing stamped with the Divine image and likeness was sent into the world to be trodden on and degraded, and imbruted by its fellows.
Page 519 - Wise statesmen as they were, they knew the tendency of prosperity to breed tyrants, and so they established these great self-evident truths, that when in the distant future some man, some faction, some interest, should set up the doctrine that none but rich men, or none but white men, or none but AngloSaxon white men, were entitled to life, liberty, and the pursuit of happiness...
Page 507 - ... or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for...