Word: ruml
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These are the two assertions which Beardsley Ruml last week used as corner stones of a new tax-reform plan...
Bulbous Economist Ruml of R. H. Macy & Co. and Danish-born Banker Hans Christian Sonne (pronounced Sonny) co-authored a 25? pamphlet (Fiscal & Monetary Policy) for the National Planning Association. Although the pamphlet attacks the whole problem of main taining high employment and vigorous private enterprise, its most striking features are its tax proposals. Economist Ruml slapped it down on the public counter at the psychological moment: just as Congress is preparing to take up the subject, just when many other people's ideas on the subject are coming to a boil...
...main Ruml-Sonne tax proposals...
...when their in dividual tax bracket is much lower; 3) because high corporation taxes raise, some times pyramid, the cost of goods; tend to keep down wages, make investment so unattractive that much employment dies stillborn out of "tax considerations." To prevent use of corporations to avoid personal taxes, Ruml proposes a 16% tax on undistributed profits...
...Forswear all Federal sales and excise taxes (except on tobacco, liquor and perhaps gasoline), because such taxes boost the price of goods and reduce sales. Such taxes, say Ruml & Sonne, are deflationary, lit the lowest incomes hardest...