Word: excessive
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Dates: during 1930-1939
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...Franklin Roosevelt were on hand to teach them: 1) what the Administration wants. 2) to like it. Big request of the Administration was freer lending in order to furnish industry the money to carry out the recovery program. By buying Government bonds the Federal Reserve has been building up excess reserves in banks, trying to encourage them to lend. In 1928 with $20,000,000,000 in deposits, banks of 101 leading U. S. cities had $9,000,000,000 in loans (other than loans on securities) outstanding. Today a similar group of banks with...
...corporate profits in excess of 12½% of the capital stock value...
...smartly drawn so that a corporation that set its capital value low for Tax No. 3 would find itself pinched by Tax No. 4 on excess profits. The gasoline and dividend taxes have been regularly collected since the law's passage. The first capital stock tax payment was due last week but the Treasury obligingly postponed the date to Sept. 29 because of a delay in distributing blank returns. Excess profits for 1933 are taxable when corporations make their regular income returns March...
...excess profits tax ceases to function for the taxable year following that in which Repeal occurs. Thus if, for example, the President proclaims Repeal Dec. 13. 1933 (the week after the ratification convention of the 36th State), corporations will pay on their 1933 excess profits on March 15, 1934 and no more thereafter. But if Repeal does not come until Jan. 5, 1934, corporations will have to pay excess profits taxes for 1934 on March 15, 1935. Most corporate taxpayers were ready last week to gamble on Repeal during...
...There is no existing legal authority for any modification of the contract because of the operation of the National Recovery Act. . . . The contract constitutes an obligation binding on the company and it may not withdraw therefrom without resulting liability to the U.S. for excess costs. . . . You are advised that there is no legal authority now existing to use appropriated public money to pay another price than the price fixed by the contract...