Word: exempted
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...present high surtax (up to 75% on $5,000,000) on upper-bracket personal incomes. Coupled with this was a plea to stop issuing tax-exempt securities.* Thus very rich citizens might be influenced to take normal business risks instead of buying Government bonds...
...statement Mayor Lyons declared that President Conant's communication could be accepted as nothing less than a flat refusal of the request of the City of Cambridge for an annual contribution of $100,000 in place of taxes on tax-exempt property...
...mayor explained that the $100,000 figure was arrived at only after careful consideration by the committee, "having taken the proportion of the total budgets of the fire and police departments, and the valuation of exempt real estate owned by Harvard bears to the total value of real estate in the city...
...even formally discussed, but from the House last week Business received one pleasant surprise. The Ways & Means Committee, preparing to carry out the Treasury's recommended revision of the Security laws, voted not only to freeze the old age insurance tax at 1% until 1943 but also to exempt from payroll taxes (unemployment insurance) all pay over $3,000 a year to any employe. Further, the Committee recommended that States with "adequate" unemployment insurance reserves be allowed to reduce payroll taxes for employers with "favorable" records...
...Council to pass a resolution requiring Mayor Lyons to appoint a citizens' committee to confer with University Hall. And it was the same McNamara who on Tuesday night reopened the question when he traced for the Council the tripling of Harvard's tax-exempt real estate value since...