The Taxing Power of the Federal and State Governments: Report to the Joint Committee on Internal Revenue Taxation Pursuant to Section 1203 (b) (6), Revenue Act of 1926, Volumes 8-11 |
Other editions - View all
Common terms and phrases
amount applied apportionment arbitrary assessment assets authority bonds Brushaber burden capital Carolina citizens classification contract counties Court has held debts decision declared deductions derived direct tax due process duties effect estate tax excise tax exempt exercise exports Federal Constitution Federal Government fifth amendment fourteenth amendment franchise gain gross Helvering income tax income-tax inheritance tax Insurance interest interstate commerce invalid legislative legislature levy a tax levy taxes limitation March ment net income nonresident Ohio paid payment personal property political subdivision Pollock power to tax prior privilege profits prohibition provisions purpose Railroad received Revenue Act shareholder shares sixteenth amendment South Carolina statute Stewart Dry stock dividend stockholders Supreme Court held tax imposed tax on income tax the income taxable taxing power taxpayer tion transaction Trust Company unconstitutional Union Pacific Union Pacific Railroad United United States Constitution upheld Veazie Bank violate
Popular passages
Page 95 - To regulate commerce with foreign nations, among the several States, and with the Indian tribes.
Page 106 - The general assembly shall provide such revenue as may be needful by levying a tax, by valuation, so that every person and corporation shall pay a tax in proportion to the value of his, her or its property...
Page 15 - AN ACT To provide revenue, to regulate commerce with foreign countries, to encourage the industries of the United States, to protect American labor, and for other purposes...
Page 62 - The Congress shall have the power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.
Page 102 - For all the great purposes for / which the Federal government was formed we are one people, with one common country. We are all citizens of the United States, and as members of the same community must have the right to pass and repass through every part of it without interruption, as freely as in our own States.
Page 5 - The authority of Congress, in creating quasi-legislative or quasi-judicial agencies, to require them to act in discharge of their duties independently of executive control, cannot well be doubted; and that authority includes, as an appropriate incident, power to fix the period during which they shall continue, and to forbid their removal except for cause in the meantime.
Page 93 - must be reasonable, not arbitrary, and must rest upon some ground of difference having a fair and substantial relation to the object of the legislation, so that all persons similarly circumstanced shall be treated alike.
Page 6 - When an Act of Congress is appropriately challenged in the courts as not conforming to the constitutional mandate, the judicial branch of the Government has only one duty—to lay the article of the Constitution which is invoked beside the statute which is challenged and to decide whether the latter squares with the former.
Page 75 - The power of taxation, however vast in its character and searching in its extent, is necessarily limited to subjects within the jurisdiction of the State. These subjects are persons, property, and business.
Page 26 - The right of Congress to have imposed this tax by a new statute, although the measure of it was governed by the income of the past year, cannot be doubted; much less can it be doubted that it could impose such a tax on the income of the current year, though part of that year had elapsed when the statute was passed.