Word: riche
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Dates: during 1920-1929
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This leaves a net reduction of taxation for these rich people of only $5,775,000-but even this reduction does not stand. With surtaxes reduced to a maximum of 25%, it will be more profitable for these people to withdraw their money from tax exempt securities (having a low yield) and place it in taxable securities with a high yield. It is estimated that $54,000,000,000 (one-fifth) of the nation's wealth is invested in these tax free securities, held in large part by these people. With part of this invested in properties whose income...
...Limitation of deductions from gross income for interest paid and for losses of a nonbusiness character to the amount that these items exceed tax exempt income. It was the practice of the very rich to borrow money and invest it in tax exempt securities; thus they could deduct the interest from their net taxable income and also get untaxable profits from their investments. This was made illegal by the Act of 1921. The law is still easily evaded, however, because it is possible for a man to invest his regular income and borrow for his living expenses and other purposes...
...held the endurance record from all comers. When it originally opened in London in the 1700's it had the longest run that any play had had until that time-50 consecutive evenings, if memory serves. It was said at the time that "It made Gay (the author) rich and Rich (the producer) gay. If they were alive today, Mr. Gay would be even richer and Mr. Rich almost idotic with delight...
...Dibble means to change all that. He tries to show the irrepressible naughtiness underlying the intolerable perfection. She is interesting for two reasons: her career marks "the definite entrance of woman into the field of political and moral reform"; and "she was a woman who led an unusually rich and varied existence...
SPRING CLEANING-Polished contrast of philosophy of the rich idle wife and the poor busy street walker. The husband acting as liaison officer...