Word: bureau
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Dates: during 1940-1949
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Thirteen months ago, a determined delegation of labor leaders marched into the White House. Chafing under the Little Steel formula, they came to protest a Bureau of Labor Statistics report which had found only a 23.4% rise in the cost of living (from January 1941 to October 1943). Franklin Roosevelt had seldom seen labor so angry with him. He set up a committee, headed by WLBoss William H. Davis, "to look into the question." The committee included two labor mem bers, the C.I.O.'s R. J. Thomas, the A.F. of L.'s George Meany...
...profits tax of 1940, it also vaguely promised relief, in famed Section 722, for those unfairly whacked. Under cover of 722's foggy wording, 34,000 corporations have filed claims for $12 billions paid in excess profits taxes. In an earnest attempt to clear away the fog, the Bureau of Internal Revenue issued a 210-page booklet. It told businessmen how they might try to get their money back...
...terms under the law were hard. Claims can be made under 722 only if a corporation can prove that the base period income on which excess profits taxes are computed (either invested capital or "average" earnings) has been unfairly set. Under 722 the Bureau will consider readjusting the base for the "average" period, 1936-39, only if earnings were subnormal because of: 1) flood, fire, etc.; 2) a temporary economic upset such as war-caused material shortages; 3) an unusual profit cycle for the corporation, differing materially from the regular business cycle; 4) changes in products, capacity, etc., which...
This last seemed to be a wide-open door, thus brought the greatest flood of claims. Actually, it is a mere chink, well guarded by the Bureau's multitude of hairline distinctions, and holds little hope for war babies...
...Communist parties, the Political Bureau (Politburo) formulates party policy...