Word: bracketed
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...other bracket, Harvey will battle Orme Wilson...
...renters got the benefit of this trend. Only tangible growth in city vacancies (hence lower rents) was in the upper brackets-houses and apartments renting for $45 or $50 a month and more. In much-moving Manhattan, renters in that bracket found reductions averaging 2½ to 5%. Biggest rap was taken by swank East Side apartments (seven rooms or over), where realtors found tenants beginning to economize by taking smaller units. Landlords, leery of giving tenants any weapon which might be used to beat down rents, did not talk, but last week the U. S. Census Bureau...
...lower-bracket two-thirds of New York's movers got no rent reductions. By the city's latest survey of $49-and-under rentals, vacancies were 2% less than the norm. Fighting rent increases and non-renewal notices in all parts of the city, the tough little City-Wide Tenants Council and its 22 tenant union leagues were hornet-mad. Formed in 1936 to promote better and cheaper housing, the Council has fraternal relations with militant tenants' unions in Great Britain and Philadelphia, is a constant source of trouble to landlords. Now is its busy season...
...Rates. Once the excess profit has been calculated, the application of the tax rate is still more complicated. There are three brackets-and the first two are figured not in terms of the excess, but in terms of the 1936-39 profit credit itself. Bracket No. 1 calls for a 25% tax on 10% of this credit. Thus, the company which averaged $100,000 from 1936-39, and made $150,000 in 1940, pays 25% on 10% of its $100,000 normal profit. This is 25% of $10,000, or $2,500. Bracket No. 2 takes another clip...
Objections to the bill were soon heard. Loudest came from Congress' left wing - Jerry Voorhis of California, Wisconsin's Bob La Follette. They thought it coddled profits instead of taxing them; they talked of boosting the top bracket rate from 40% to 82%. They also disliked Choice i, on the grounds that it would let slip the most profitable corporations. But their biggest objection was to the 20% depreciation allowance and the Vinson-Trammell repeal. Calling the latter "bribes" to induce manufacturers to do their duty under the Defense program, they would have preferred to hand business...