Word: excessive
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Dates: during 1940-1949
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...from 90%) tax on excess profits. This will cost corporations about $616,000,000 more a year...
Cash for the Little Man. For the small fry, that kind of cash on the barrelhead is a huge inducement: if they hang on and sell their liquor themselves, they are liable to excess-profits taxes running up to 90%. But if they sell out, they will merely pay the 25% tax on long-term capital gains. But for the big companies with low inventories, who must maintain their competitive positions, the reverse is true: almost any way of acquiring more well-aged whiskey stocks makes sense. Example: Seagram is the No. 1 North American liquor company in sales...
...Excess profits...
...date, as oilmen well know, OPA has steadfastly refused to permit an increase in oil prices. At present oil imports from South America are increasing, but will not ease the civilian gasoline pinch because: 1) war requirements will have to be met first; 2) South America has no excess refinery capacity now to take the strain off overloaded U.S. refineries; 3) the U.S. expects to use South American oil to fuel any large-scale offensive in the Pacific because production in California, now fueling the Pacific operations, cannot be increased sufficiently to supply a big push...
Consolidated's production has zoomed from a mere $3,600,000 in 1939 to an estimated $650,000,000 for this year. This geometric expansion during a period of high income and excess-profits taxes has of necessity occurred without a corresponding increase in working capital. Like other U.S. aircraft companies, Consolidated can only scrape together enough cash to meet its payroll for two to three weeks at a time...