Word: rateness
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Dates: during 1930-1939
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...defense, while continuing to spend many millions on relief, works, etc., the U. S. Treasury must raise new taxes, somehow, somewhere. And 1940 is an election year. To raise new taxes, Congress must do two politically unpalatable things: 1) broaden the income-tax structure, by lowering the tax-exemption rate to include thousands of U. S. citizens who now pay no income tax; 2) lift the tax exemptions historically enjoyed by Federal, State and municipal bonds...
There's a mighty favorable rate of exchange at the Shubert this week, where "DuBarry Was a Lady" is the attraction. You put down your money and you get a Cole Porter revue, costumed, syncopated, gagged, and sexed up to the hilt. Ethel Merman and Bert Lahr perform in their best manner, with everything from the fake marble walls of a night-club men's room to the tufted satin of Louis XV's court as settings. Their special brand of humor seems even funnier when its spice is set off against the elegance of the French court...
Tickled pink were Flemingtonians. Not only was their personal property rate for State and county lowered but their town tax almost disappeared-shrank from $1.15 to 10?. Santa Claus had come to town out of season. The good word got around. Great Western Sugar Co. (assets: $82,402,000) heard it, blinked at the 67? tax rate, pulled up stakes in Plainfield. Into Judge Large's office, a block from the courthouse, went Great Western's new safe and papers-and the place got crowded...
...office to squeeze them in, he was thinking of moving to new quarters. The newcomers: big United Shoe Machinery Corp. (assets: $124,468,000), formerly of Paterson, and Montana Power Co. (assets: $152,093,000), formerly of Newark. What their arrival would do to the dwindling property tax rate (now 81?; town 8?) Flemingtonians could only guess. Maybe the town tax would melt away altogether. Busily turning their new-found tax savings into fresh coats of paint; landscaping, new roofs, etc., the town was rewarded for not being tax greedy. For Flemington's tax rate was 31? below...
...Nowhere into the here came Big Steel (which Economist Roberts rates as an industrial group by itself) converting a $12,000,000 deficit to a $12,000,000 profit. Steel's third quarter report last week showed its Cinderella common stock back in the black to the tune of $10,420,445-47? a common share, and showed $5.16 operating profit per ton shipped; it is operating at close to 90%. Even more spectacular was the record of Bethlehem Steel, which makes money at a lower rate of operations than its big brother, which is now operating at full...