Word: excessive
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Dates: during 1940-1949
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...businessmen, the new bill begs a more immediate question: will there be a war-profits or excess-profits tax, and how much? Last week this problem was underscored when Senator Robert Marion La Follette Jr. tacked an approximate copy of the old 1918 war-&-excess-profits taxes on to the Morgenthau bill. To his surprise it passed right through the Senate but the joint conference killed it. Main provisions of the La Follette rider, aimed at all corporate net incomes (in addition to the ordinary corporate income...
...Profits in excess of the exemption, but not more than 20% on the invested capital, to be taxed...
...Profits in excess of 20% on invested capital to be taxed...
Last week Administration tax experts got down to the problem of sifting such problems. They intended, first of all, to make a distinction between a war-profits tax (on munitions-makers selling to the Government) and an excess-profits tax (on all corporations - as in 1918). The munitions-makers (aircraft and shipbuilders are already subject to a 10 or 12% profit limitation) may be treated more severely than the rest. On ordinary excess profits, the experts were looking for a formula to give corporations an incentive for ploughing their boom profits into new plant, thus multiplying defense production...
...consumer protection. Net impression about her job was that, for the moment, its functions will be delightfully vague. Agriculturist Chester C. Davis got a capable assistant, Paul Porter of CBS, publicly did little else. Railroader Ralph Budd (transportation) was heard to remark that he faced only one problem: an excess of facilities. Labor Overseer Sidney Hillman was still ill. Fulltime U. S. officials who are to share his job (mobilizing trained man power where it is needed) buzzed ahead without him on plans to train 1,000.000 civilians, find immediately needed craftsmen, school 45,000 civilian pilots for a year...