Word: excessive
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
Instrumental in lopping over a billion dollars in excess profits from government war contracts, Business School Professor Thomas H. Saunders last night defended the federal policy of re-negotiation of agreements with industry...
...This is the simplest way," he said. "Industry must accept the principle that it cannot earn excess profits during war-time. The only alternative is for the government to let it take all the profits it can and this Congress and popular pressure will not allow...
Just before the cut the 37 reserve banks in New York City had only $90,000,000 of excess reserves on Sept. 30-a five-year low. The Chicago banks were actually reported to have a small deficit. Obviously this left the banks in no position to underwrite any large part of the biggest bond issue ever, so close to half a billion dollars was added to their free cash by a cut in their requirements. As it becomes necessary to have them buy more Government bonds their reserve requirements can still be cut much lower, possibly to the statutory...
Slapped through last April to quench public indignation at the scandalous profits in the Jack & Heintz case (TIME, April 6) and others, the present law provides that on all war contracts in excess of $100,000 the Army, Navy and Maritime Commission may investigate manufacturers' costs and scale down excessive profits...
...with a 10% tax on a person's total spending over the personal exemptions; this would be refunded after the war-a kind of forced savings as well as a tax. It went on to a surtax (not refundable) that climbed from 10% to 75% on expenditures in excess of $1,000 for a single person, $2,000 for a married couple and $500 for a dependent. Taxpayers were to make quarterly returns reporting their spendings; and this whole new tax system was to be imposed on top of the present income...