Word: excessive
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Dates: during 1940-1949
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WASHINGTON--President Roosevelt signed the excess profits tax-plan amortization bill, designed to speed rearmament, prevent growth of "war millionaires," and raise $1,000,000,000 annually of new revenue, the White House revealed today...
...understanding on trade with the U. S., Argentina also prepared last week to thrash out its problems with Great Britain. Owner of vast Argentine holdings, Great Britain is also Argentina's best single customer, hopes to remain so if for no other reason than to keep excess Argentine goods from Nazi Europe. Last week Britain announced that a diplomatic trade mission would tour the South American countries next month under 74-year-old Marquis Willingdon, former Viceroy of India, onetime cricket champion, reputedly the suavest and most able trouble shooter in the Empire. The British stressed the fact that...
...defense beneficiary No. 1, its stocks act as though their gas lines were plugged. Last week, industrial stocks had risen more than 20% over their 1940 lows. But aircraft stocks had risen less than 15%. Brokers, tipsters and statistical services had two standard explanations: 1) uncertainty over the excess-profits tax; 2) the possibility of Britain's going under...
Both explanations made some sense. If the excess-profits tax, which came out of conference this week, takes up to 50% of profits above the 1936-39 average, the airplane makers (who made little or no real money before 1939) will be harder hit than more mature firms...
...Excess...