Internal Revenue. Hearing ... May 9-27, 19211921 - 789 pages |
From inside the book
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Page 10
... tax collections of about one billion less than in 1920 and one - half billion less than in 1921 . The most ... profits taxes is artificial and troublesome . Taxes of this extreme character are clogs upon productive business and should be ...
... tax collections of about one billion less than in 1920 and one - half billion less than in 1921 . The most ... profits taxes is artificial and troublesome . Taxes of this extreme character are clogs upon productive business and should be ...
Page 23
... profits tax , as its evils are now clearly recognized and its productivity dwindling . It should go . Instead , a flat rate on the net income of corporations , without any exemption and ... taxes , it would SALES TAX - PROPONENTS . 23.
... profits tax , as its evils are now clearly recognized and its productivity dwindling . It should go . Instead , a flat rate on the net income of corporations , without any exemption and ... taxes , it would SALES TAX - PROPONENTS . 23.
Page 32
... tax is a turnover tax on goods , wares , and merchandise . The turnover feature and the general feature of extending ... profits tax should go ; and , although there is not so much of an outcry as to the in- come tax , still for most of ...
... tax is a turnover tax on goods , wares , and merchandise . The turnover feature and the general feature of extending ... profits tax should go ; and , although there is not so much of an outcry as to the in- come tax , still for most of ...
Page 40
... profits tax ? Mr. SATTERLEE . No ; I think not . I think anything would be bet- ter than the excess - profits tax , because - well , I doubt if I can con- dense in just a few words the views I wish to express , but the great fault with ...
... profits tax ? Mr. SATTERLEE . No ; I think not . I think anything would be bet- ter than the excess - profits tax , because - well , I doubt if I can con- dense in just a few words the views I wish to express , but the great fault with ...
Page 56
... taxes could be replaced or eliminated by the substitution of a sales tax ? Mr. SMITH . The excess - profits tax in connection with corporations , and the surtax on individuals , which is practically the same thing .. Senator SMOOT , All ...
... taxes could be replaced or eliminated by the substitution of a sales tax ? Mr. SMITH . The excess - profits tax in connection with corporations , and the surtax on individuals , which is practically the same thing .. Senator SMOOT , All ...
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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...