Word: hendersons
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...week went two Government officials proposing not only different taxes than the Treasury suggested, but a whole new theory of taxation. The men who made these new proposals were two of the Administration's fiscal bigshots: the Federal Reserve System's Chairman Marriner Eccles and Price Administrator Henderson...
...Treasury nad recommended new and higher surtaxes on personal and corporate incomes (TIME, May 5), higher gift and estate taxes, increased excises on many such commodities as cigarets, liquor, gasoline. On the last point Messrs. Eccles and Henderson plainly told openmouthed Congressmen on the Ways and Means Committee that they differed...
Eccles also proposed broadening the individual income-tax base, lowering the married persons' exemption to $1,500 and credit for dependents to $300. But he would tax middle-income groups, "living on relatively fixed incomes," less drastically than Morgenthau advised. Henderson and Eccles both proposed to plug loopholes and boost gift and inheritance taxes...
Dazed by the Eccles-Henderson thesis, the Ways and Means Committee extended hearings, settled down to figuring out not only what taxes would hurt the least, but what would do the most good...
...pinch is already on those durable consumer goods (like automobiles) that compete with arms for materials. But Mr. Keynes thinks the U.S. can still avoid both general price fixing and inflation, especially if Leon Henderson keeps a strong hand. "His is the most difficult job," said the mellowed Cassandra. "You must give him every support...