Word: excessive
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Dates: during 1940-1949
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...high dudgeon, OPA Boss Chester Bowles last week got after the clothing industry. He charged that manufacturers are deliberately making the clothing shortage worse, that they are holding back on shipments till after Jan. 1, to take advantage of the repeal of the excess-profits tax. Said Bowles: "The public's need for clothes seems to mean little to some producers...
Although gross income for U.S. business will drop in 1946, repeal of the excess profits tax will keep net corporate profits at the 1945 level ($10 billion). But wages and salaries, because of lost jobs and less overtime, will drop some $25 billion. Unemployment will soar...
...earnings of the steel industry in the first nine months this year, said he, were "well in excess" of the profit yardstick of 1936-39- Based on current operations, earnings "would be in excess of this standard for the full year." He brushed away the demands of Big Steel that price increases should be given now, on the basis of present earnings. Cutbacks in war contracts, said he, had made present operations in the industry abnormal. They would not be back to "normal" until early in 1946. At that time, said Mr. Bowles, the matter of a price boost would...
...charged Small, other manufacturers are simply waiting for a better tax climate. Said he: they are holding up shipments of finished products until the excess-profits tax is repealed...
...businessmen, the 1946 tax cuts will provide $3,136,000,000 of relief by eliminating all excess-profits taxes, by reducing corporation income-tax rates by 2 to 4%. This will give industry a cushion against the rising pressure between price ceilings and labor's wage demands, and should help stimulate reconversion and re-employment. But out of every dollar of profit over $50,000, business concerns will still pay the Government...