Word: budgeted
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Dates: during 1930-1939
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Votes. With Congressman Doughton, he started from scratch three weeks ago to fight the Sales Tax, which was to raise about one-half ($595,000,000) of the sum required to balance next year's Budget. He had no organized backing except the dissatisfaction of members with this backlog tax, no political power except his own arguments. Yet so well did he regiment the opposition to the Sales Tax fortnight ago that the House, as a preliminary to replacing that levy with other forms of revenue, boosted the normal and surtax rates beyond those in the bill. Under his spurring...
...their words lacked fervor and conviction. They explained how, broadening the Federal tax base, it bore on all equally, how it did not discriminate like an excise tax among industries, how it could be easily collected and. above all, how it would bring in enough money to balance the Budget. They also argued that the tax would be absorbed by competing manufacturers and middlemen, would not be actually felt by consumers...
...Soaking." The defeat of the Sales Tax brought down severe criticism upon Congress. The Democrats were accused of "soaking the rich" and "conscripting wealth." Speaker Garner was denounced for failing to control his party in an emergency. (This week he took the floor with a budget-balancing plea.) The Democratic "chaos" was taken to prove that the party was not "fit to rule." But the House majority against the Sales Tax clearly reflected the sentiment of the country as a whole where the revolt against the staggering mass of direct and tangible taxes has been steadily progressing. Anti-sales-taxers...
Tariffs. With the Sales Tax out of the way, the La Guardia-Doughton coalition dissolved and the House, exhausted by long sessions, depleted by grip, began casting about for other means to raise a Budget-balancing half billion dollars. First moves were...
...foreign debt consists merely of $10,000,000 which we borrowed from the United States. That represents only about 40% of one annual budget. Besides, we have 62 years in which to pay it and the Hoover moratorium gave us an extra year...