Word: crum
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Professor William L. Crum of the University of California writes that the current system of taxing corporation profits and dividends impanel a far heavier burden on the income of stockholders than it does upon the becomes of men who do not own stocks...
Families with small incomes are especially hit, writes Crum, by the "double taxation of dividends." The article suggests partial removal of the present tax inequities, although the author recognizes that the current need for revenue will block the major changes needed to "current the burdens" on stockholders...
...Crum's changes would reduce tax receipts but "would encourage" the flow of risk capital into corporations...
...have something," he said, "that I regret very much having to say . . . Tonight's issue will be our last one. We have made every effort to raise new capital, and get this paper refinanced, and it is just not possible." When Crum jumped down, rumpled, bespectacled Editor Joseph Barnes, flushed and close to tears, gritted out his thanks to the staff...
Unkept Promises. In that five-minute meeting, the life flickered out of a newspaper that had been a sometimes noble, often confused experiment. In nine years, it had cost Chicago's wealthy, well-intentioned Marshall Field some $7,000,000. He had hoped for a change when Crum & Barnes took over last spring (TIME, May 10). They had big plans, high hopes and promises of plenty of money from new investors. The promises were not kept. Field had had to pump in another $600,000 and Joe Barnes had to neglect his editing to hunt more money...