Word: excessive
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Dates: during 1920-1929
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Belgium has a plan. Premiers Poincaré and Theunis discussed it at Brussels. This plan is to accept payment from Germany of annuities (suggested by Germany) guaranteed by German State Monopolies, excess taxation over budget requirements, control of railroads. Two big points in the Belgian scheme: A Reparation Conference in which Britain and Italy shall be represented, and immediate evacuation of the Ruhr after guarantees for the Allied terms have been accepted and given by Germany! So far Poincaré has not made public what he thinks of this "dinky little plan," but, nolens volens, it seems he will have...
...York and Ohio, Swan & Finch Co., Union Tank Car Co., Vacuum Oil Co; and the Washington Oil Co. The combined capitalization of these companies is $957,843,750, but as it has until very recently been the policy of Standard Oil to undercapitalize, its actual resources are considerably in excess of this sum. Within the last few months there has been a tendency to increase capital stock by capitalizing the large surpluses that have accumulated, probably with a view to avoiding new corporate taxes and to secure wide stock distribution. An idea of the size of the surpluses is given...
...Ratio of total net income from incomes of $100,000 and over to total net income from net incomes in excess...
...Ratio of tax paid on net incomes of $100,000 and over to total tax paid on net incomes in excess...
...apparent from this table that the surtaxes on taxable net incomes in excess of $100,000, while constituting between a quarter and a third of the total taxable net income in 1916 and yielding almost three-fourths of the total income tax paid by persons having taxable net incomes in excess of $3,000 in that year, in 1920 constituted little more than one-twentieth of the total net income and yielded less than one-third of the total tax: and this in spite of an increase, up to 1918, in the rate of surtax imposed...