Word: excessive
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Dates: during 1940-1949
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...laws. It had overreached itself by optimistically redeeming $320,000 worth of preferred stock and spending $600,000 for plant expansion. Then, when it could not get enough engines to meet its production goal of 40 planes a day, Taylorcraft found itself with a whopping inventory ($800,000 in excess of its needs), and no way of meeting its current debts of $1,030,000. But it still had a backlog of 1,220 orders. Company president Nash Russ hoped that the court would let him continue production under a trusteeship and get Taylorcraft back...
...demanded a return to strong price controls, a return to the excess profits tax and controls over scarce materials...
Other Republicans who would step into House chairmanships: Appropriations-New York's arch-conservative John Taber, loudmouthed, long-winded but an expert on government finance; Ways & Means-Minnesota's bullet-headed Harold Knutson, small-minded and vindictive, who believes that the graduated income tax and the excess profits tax are the devil's work; Foreign Affairs-New Jersey's white-haired Charles A. Eaton, delegate to the San Francisco Conference which set up U.N.; Banking & Currency-Michigan...
Movie attendance was indeed up to an all-time high (95,000,000 a week) and the excess profits tax was gone. But the payoff fact was that Hollywood was selling products made a few years ago at comparatively lower costs, at record-high box-office prices (some 37% higher than...
...obscured the realities of the boom. First-quarter reports on corporate profits, compiled by the Department of Commerce, revealed that in some industries, as the Department's "Survey of Current Business" (June, 1946) put it, "production and sales broke all previous records and, with the elimination of the excess profits tax and some reduction in other corporate levies, it was almost inevitable that net earnings would reach now highs...