Word: exemptive
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Dates: during 1950-1959
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Because several members of this commission had recently held government positions, they required exemptions from the 'conflict of interest' statutes. These statutes, designed to prevent ex-government employees from becoming influence peddlers, forbid men who have left the service within two years from dealing with government agencies. Members of the Hoover Commission, Selective Service, Defense Production and Civil Defense Agencies receive exemptions from the statutes with no trouble. But Senator Pat McCarran, head of Senate Judiciary Committee, refused to exempt the Nimitz Commission. Senator McCarran felt that the Security question is sole property of the Internal Security Subcommittee, headed...
Members of the Organized Reserve who enlisted before February 1 will be classified 1-D, and are exempt from induction. They will stay so long as they attend drills...
...Corporate income taxes are increased from 25% on the first $25,000 to 30%, from 47% to 52% on the remainder. ¶ The excess-profits tax is boosted by lowering the "normal" earnings (exempt from the tax) to 83% of the 1946-49 base period instead of the current 85%. ¶ Whiskey taxes are raised 24? to 30? per fifth, beer $1 per barrel, cigarettes 1? per package, gasoline ½? per gallon, autos $50 for a light sedan. A new 10% excise tax is placed on power lawnmowers, home movie projectors, electric dishwashers...
...until now, University grants for pure research, like scholarships, have been tax-exempt. Now, however, those Research Fellows whom the Treasury thinks have completed their training and are already embarked on careers will have to pay taxes on their stipends...
...Treasury first began distinguishing between "professional" and "student" holders of fellowships in 1949, but so far the majority of Research Fellows here have remained tax-exempt...