Word: excessively
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Dates: during 1930-1939
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...shillings in the pound (25%). A Briton with a wife and child who earns $5,000 a year would pay, after benefiting from various exemptions, $585 to the Exchequer, more than seven times as much as a U. S. citizen in the same position pays to Washington. 2) An excess profits tax, hated by Tories the world over and first levied in Britain in 1915 by the Asquith Government and continued until 1921 by David Lloyd George to hit war-profiteers, will be reintroduced under the euphemistic head of "the national defense contributions." This will be raised "during Britain...
...company will have the privilege of choosing by which of two methods it wishes to have its excess-profits tax computed. It may pay taxes on that portion of its profits in excess of the average profits made in the years 1933 to 1935; or it may choose to be taxed on profits exceeding 6% of the ordinary capital in the case of public companies. 8% of ordinary capital in the case of individuals or private concerns. Thus if a public company chooses the second standard it will pay the Government one-fifth of profits, ranging from...
Financial London was shocked. The market slumped badly. London financial papers described the excess profits tax as "crazy," as paving the way for "a Socialist Government to ruin the profitability of British Industry." Writing in the London Times, Economist John Maynard Keynes said: "It is like a tax on twins whose names are in the first half of the telephone book and happen to be born...
...plaques, however, the idea of having them taken away seemed even more obnoxious. Until last week none had been withdrawn. Then Chairman Leo T. Crowley of FDIC announced that North Bergen (N. J.) Trust Co. would lose its plaque May 1. Reasons: operating with impaired capital, lending in excess of the legal limit, unwarranted concentration of loans, extension of credit to people and companies in which the bank's principal stockholders were interested. "It was also found," said FDIC, "that the management of the bank by its principal stockholders constituted a hazard to its depositors...
...somehow to change color like a chameleon is not unusual in public life today. Senator Harrison, for instance, can be counted on for a new tax measure shortly after he predicts that no new taxes will be needed. Governor Eccles will go out and create huge bank deposits and excess reserves and then have the temerity to issue a statement denying that monetary influences have anything to do with the present tendency toward rising prices. President Roosevelt himself can be confidently expected not to balance the budget when he says he will. Indeed one of the few men in public...