Revenue Revision of 1941: Hearings, 77th Congress, 1st Session, Apr. 24[-May 28], 1941, Volume 21951 |
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Page 566
... tion of alternatives . But I emphasize that , in talking about alterna- tives , I want you to keep in mind that as you consider alternative sources of revenue , the first alternative which is before this committee and which you must ...
... tion of alternatives . But I emphasize that , in talking about alterna- tives , I want you to keep in mind that as you consider alternative sources of revenue , the first alternative which is before this committee and which you must ...
Page 577
... tion , the closing of loopholes which are indefensible on every basis of equity and justice . The second type , not in exactly the same category , is merely the burdensome and difficult imposition of higher taxes on levels other than ...
... tion , the closing of loopholes which are indefensible on every basis of equity and justice . The second type , not in exactly the same category , is merely the burdensome and difficult imposition of higher taxes on levels other than ...
Page 586
... tion proposal $ 120.00 $ 144.00 49.50 49.50 130.00 175.00 420.00 420.00 719.50 788.50 1 Based on estimates of R. A. Musgrave , economics department , University of Michigan , presented to Joint Committee on Economic Report , round table ...
... tion proposal $ 120.00 $ 144.00 49.50 49.50 130.00 175.00 420.00 420.00 719.50 788.50 1 Based on estimates of R. A. Musgrave , economics department , University of Michigan , presented to Joint Committee on Economic Report , round table ...
Page 587
... tion down from a Cadillac scale of living to a Buick scale , or even to a Chevrolet scale , is not to be compared with the sacrifice involved in giving up a quart of milk a day , or new shoes for the children , or a much - needed visit ...
... tion down from a Cadillac scale of living to a Buick scale , or even to a Chevrolet scale , is not to be compared with the sacrifice involved in giving up a quart of milk a day , or new shoes for the children , or a much - needed visit ...
Page 588
... tion levels should be applied to compensate for the effect of the higher exemption in lowering their tax liabilities . Also similar upward adjustments could be roughly calculated to compensate for tax savings in the higher brackets due ...
... tion levels should be applied to compensate for the effect of the higher exemption in lowering their tax liabilities . Also similar upward adjustments could be roughly calculated to compensate for tax savings in the higher brackets due ...
Common terms and phrases
amount assets average basis billion BOGGS BOYLAN bracket budget building and loan burden capital gains capital-gains tax CHAIRMAN commercial banks Congress COOPER corporate tax corporation income cost CURTIS defense depositors dividends dollars DOUGHTON earnings EBERHARTER economic effect excess excess-profits tax excise taxes expenditures families February 20 Federal Government Federal income tax Federal tax financing FORAND gift taxes holding period INCOME-TAX RATES increase individual income tax inflation institutions investment JAVITS KEAN KREUTZ levied loan associations loopholes losses married couple MASON Means Committee ment MILLS municipal bonds mutual savings banks national income NIXON operation paid percentage present president production profits proposal question raise reduce REED reserves revenue RUTTENBERG sales tax savings and loan savings deposits SCHWULST Secretary securities sell SIMPSON Snyder statement stockholders surtax TARK tax rate taxpayers tion Treasury United World War II
Popular passages
Page 1090 - Except as otherwise provided by law, all stocks, bonds, Treasury notes, and other obligations of the United States, shall be exempt from taxation by or under State or municipal or local authority.
Page 914 - The right to tax the contract to any extent, when made, must operate upon the power to borrow before it is exercised, and have a sensible influence on the contract. The extent of this influence depends on the will of a distinct Government. To any extent, however inconsiderable, it is a burden on the operations of government. It may be carried to an extent which shall arrest them entirely.
Page 983 - As the States cannot tax the powers, the operations, or the property of the United States, nor the means which they employ to carry their powers into execution, so it has been held that the United States have no power under the Constitution to tax either the instrumentalities or the property of a State.
Page 1086 - ... (b) Exclusions from gross income. — The following items shall not be included in gross income and shall be exempt from taxation under this title: (1) LIFE INSURANCE.
Page 984 - The general government, and the States, although both exist within the same territorial limits, are separate and distinct sovereignties, acting separately and independently of each other, within their respective spheres. The former in its appropriate sphere is supreme; but the States within the limits of their powers not granted, or, in the language of the Tenth Amendment, "reserved," are as independent of the general government as that government within its sphere is independent of the States.
Page 572 - You did answer the question as to whether or not you are a member of the Communist Party.
Page 913 - Loan & Trust Company, supra. These obligations constitute the contract made by the State, or by its political agency pursuant to its authority, and a tax upon the amounts payable by the terms of the contract has therefore been regarded as bearing directly upon the exercise of the borrowing power of the government.
Page 735 - I would like to insert in the record at this point. The CHAIRMAN. Without objection, that will be the order, also as to this other material.
Page 1098 - Interior, who shall transmit and dispose of such power and energy in such manner as to encourage the most widespread use thereof at the lowest possible rates to consumers consistent with sound business principles, the rate schedules to become effective upon confirmation and approval by the Federal Power Commission.