Word: excessive
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Dates: during 1940-1949
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...President's general tax proposals were: 1) increase individual and corporate income taxes; 2) cut exemptions on estate and gift taxes; 3) revise upward the present corporate excess-profits tax; 4) perhaps-only perhaps-consider a temporary general sales tax, which the Administration has long and strongly opposed; consider selective excise taxes; 5) make the interest from future issues of state, municipal and authority bonds subject to Federal income taxes; 6) re-examine depletion allowances and special tax provisions affecting oil and gas firms, life-insurance companies; 7) increase Social Security payroll taxes...
...income taxes-or even, perhaps, in addition to present levies. > Mandatory joint returns, one of the big income-tax loopholes will probably be enacted, getting the Treasury some $325,000,000 to $500,000,000 more-a provision aimed at the eight States which have community-property laws. > Corporation excess-profits taxes: last year Congress raised all brackets 10%. When the Vinson Committee reports soon on shipbuilding profits, some of which range to 200%, such a squawk is expected that taxperts figured that Congress would raise rates so steeply as to pick up another billion dollars. > Manufacturers' excise taxes...
...Packard employe had nine traffic and 14 plant accidents in five years. The foreman found him a hothead who liked to ram drivers he saw violating traffic regulations, a fast worker with excess time for practical jokes (which often backfired). Switched to a responsible maintenance position, his traffic and plant accident scores dropped abruptly...
...bring all prices into line with the DSC-negotiated price to Cuba, it should also encourage increased production, both off-shore and domestic. > This week refiners and large industrial consumers met in Washington to discuss sugar allocations for the year. One likely outcome: requisitioning and reallocation of excess stocks. This would be particularly galling to the big users who stocked up foresightedly last year, some of whom are said to have a two-year supply. Fearing such an order and considering curtailed sales, traders on the New York Stock Exchange last week sold Coca-Cola and Pepsi-Cola down...
...turkey that Mr. Morgenthau and his luncheon guests expect to cut so soon after the New Year will probably include a far meatier excess-profits tax, fatter taxes on corporation incomes, higher personal-income taxes. It might include the 15% withholding tax on salaries that Mr. Morgenthau wanted last month, increased Social Security taxes, compulsory joint returns for husbands & wives. It will probably be at least $5 billion bigger than 1941's bill...