Word: bracketeers
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...public. Last week it took Treasury Secretary Vinson's tax-reduction program behind closed doors, came out in a record-breaking four days with a tax bill which would 1) give individual taxpayers at least a 10% reduction in income taxes, and 2) take 12,000,000 lower-bracket Americans off the tax rolls altogether...
...told one job applicant that he could start at 70? an hour, would then get three automatic raises bringing the rate to 85? , plus premium pay which would send it to $1 an hour. The applicant replied: 'That would be all right if you got in the top bracket right away.' He got up and left...
...July," cracked Random House's bubbling Bennett Cerf, "publishers start crying into their $6 lunches at the Colony and $2 mint juleps at the Ritz Bar that business is awful. But by September 10, they're again screaming that they're in the 90% income tax bracket...
...Governor A. Harry Moore (who remarked at the time, "I know this will make his dad happy"), young Frank had no chance at reappointment by G.O.P. Governor Walter Edge, snapped at an offer to do legal work in New Dealer Leo Crowley's Foreign Economic Administration. New salary bracket: $3,600 to $4,200 yearly...
...effect, Section 722 specifies the means by which a corporation can modify its prewar, four-year excess profits base on which the tax is estimated. Thus, since the top bracket is 90%, even a slight upward revision of the average base would mean an enormous rebate. To make sure that no corporation was frozen out of at least a chance to claim such a recount, Congress made Section 722 a long, loosely-phrased document offering several broad formulas for arriving at a new tax base. Example: if, during one of the four tax-base years, a corporation's profits...