Word: excessive
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Dates: during 1940-1949
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...doubting the fact that a big segment of U. S. Business has more courage than Congress in facing the economic problems of defense. Last summer Congress broadened the income tax base, imposed a 10% income tax surcharge (to raise about $123,000,000 this year) and a corporate excess-profits tax (to raise about $106,000,000). With a Federal deficit estimated at $6,289,000,000 this year and $9,310,000,000 next year, these were timid gestures...
...opposed to sales taxes or processing taxes which do not disturb profits, but soak the consumer. Ability to pay he fixed as the guiding principle. From these clues taxperts could guess the shape of the bill that will destroy next spring's beauty for many a citizen: stiffer excess-profits taxes* (not a straight-out increase in regular corporate income-tax rates); another increase in surtax rates on incomes, probably on those in the so-called "savings" brackets, between $15,000 and $500,000. In the making, taxperts guessed, was some bludgeon being tooled to club upstanding tax-exempt...
...ranging from 25% on the first $20,000 of excess profits to 50% on excess profits above...
...Having started its war of conquest in China for the avowed purpose of finding room for the expansion of its excess population (900,000 excess births a year), the Government announced that the war had caused such a birth deficit that it was necessary to subsidize births. Therefore the Government offered to lend $10 to $100 to young couples who get married, promised to cancel interest on the loan if the bride became pregnant within six months, and to cancel 20% of the principal for each child born of the marriage...
...last July, the State Department has taken the position that exports of machines not directly needed for de fense should be allowed. But by last week almost every kind of machine-building capacity and labor looked useful for defense. Typically, C. I. O.'s Walter Reuther proposed using excess automaking equipment to make planes, arguing that adapting it to this purpose would take a third of the time needed to build new machines...