Internal Revenue. Hearing ... May 9-27, 19211921 - 789 pages |
From inside the book
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Page 10
... capital into productive enterprise , and are rapidly becoming unproductive . The excess - profits taxes is artificial and troublesome . Taxes of this extreme character are clogs upon productive business and should be replaced by other ...
... capital into productive enterprise , and are rapidly becoming unproductive . The excess - profits taxes is artificial and troublesome . Taxes of this extreme character are clogs upon productive business and should be replaced by other ...
Page 24
... capital computation and other complexities of the excess - profits tax , the reduction and sim- plification of the surtax scale , the elimination of a mass of special- sales taxes , and the imposition of a 1 per cent tax on sales of mer ...
... capital computation and other complexities of the excess - profits tax , the reduction and sim- plification of the surtax scale , the elimination of a mass of special- sales taxes , and the imposition of a 1 per cent tax on sales of mer ...
Page 41
... capital to pay this turnover tax . Mr. SATTERLEE . Yes , as at present , many industries are donating part of their capital to pay the present specific taxes . Senator JONES . That is true ; but you are seeking to shift your income tax ...
... capital to pay this turnover tax . Mr. SATTERLEE . Yes , as at present , many industries are donating part of their capital to pay the present specific taxes . Senator JONES . That is true ; but you are seeking to shift your income tax ...
Page 46
... capital- stock tax , although admitting that the transportation tax is objectionable and should be repealed if " Congress is prepared to provide an acceptable substitute . " As an acceptable substitute not only for the transportation ...
... capital- stock tax , although admitting that the transportation tax is objectionable and should be repealed if " Congress is prepared to provide an acceptable substitute . " As an acceptable substitute not only for the transportation ...
Page 47
... capital stock tax and the estate tax could be eliminated along with the specific sales taxes , which would be well , because the capital - stock tax is unworkable and inheritance taxation should preferebly be left to the States . But ...
... capital stock tax and the estate tax could be eliminated along with the specific sales taxes , which would be well , because the capital - stock tax is unworkable and inheritance taxation should preferebly be left to the States . But ...
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Common terms and phrases
amount Association automobile believe billion burden cent tax CHAIRMAN CLARK collected committee commodities Congress consumer consumption consumption tax corporation cost cough drops dealer distributed dividends dollars earnings estimate excess excess-profits tax excise taxes exemption fact farmers favor Federal flat tax going Government grape juice HANCH imposed income tax increase individual industry Internal Revenue invested capital jobber levied Luden's manufacturer MCKENZIE merchant National paid passed Philippines present tax production Prof profits tax proposed question raise repeal represent retail revenue stamp sales or turnover securities sell Senator CALDER Senator DILLINGHAM Senator JONES Senator LA FOLLETTE Senator MCCUMBER Senator MCLEAN Senator SIMMONS Senator SMOOT Senator WALSH Senator WATSON shifted SMITH SMITH BROS sold stamp statement stockholders sumer surtaxes tax law tax-exempt taxable taxation taxpayer tion to-day transactions Treasury turnover tax undistributed United WILFLEY
Popular passages
Page 403 - All of the expenses of the commission, including all necessary expenses for transportation incurred by the commissioners or by their employees under their orders, in making any investigation, or upon official business in any other places than in the city of Washington, shall be allowed and paid on the presentation of itemized vouchers therefor approved by the commission.
Page 536 - In the case of a resident, by deducting from the value of the gross estate — ******* (3) The amount of all bequests, legacies, devises, or transfers, to or for the use of the United States, any State, Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes...
Page 403 - A vacancy in the Board shall not impair the right of the remaining members to exercise all the powers of the Board, and three members of the Board shall, at all times, constitute a quorum. The Board shall have an official seal which shall be judicially noticed.
Page 92 - The tax which each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, the quantity to be paid, ought all to be clear and plain to the contributor, and to every other person.
Page 403 - ... to employ and fix the compensation of such attorneys, special experts, examiners, clerks, and other employees as it may from time to time find necessary for the proper performance of its duties and as may be from time to time appropriated for by Congress.
Page 653 - I do not want art for a few, any more than education for a few, or freedom for a few.
Page 532 - ... any part of the gross income which, pursuant to the terms of the will or deed creating the trust...
Page 532 - The net income of the estate or trust shall be computed in the same manner and on the same basis as provided In section 212...
Page 92 - Every tax ought to be levied at the time, or in the manner in which it is most likely to be convenient for the contributor to pay it.
Page 213 - Act of 1918) upon all articles commonly or commercially known as jewelry, whether real or imitation; pearls, precious and semiprecious stones, and imitations thereof; articles made of, or ornamented, mounted or fitted with, precious metals or imitations thereof...