Word: smoot
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Dates: during 1930-1939
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Looking greyer, gaunter, grimmer than ever, Utah's 70-year-old Senator Reed Smoot arose behind his paper-cluttered aisle desk last week to perform an important function. Bracing his drooping shoulders as if to bear an invisible load, he announced: "Mr. President, from the Committee on Finance I report back favorably with amendments the bill (H. R. 10236) to provide revenue, equalize taxation and for other purposes...
SMITH ROOSEVELT The consequences of The consequences of the Hawley-Smoot bill the Hawley-Smoot bill have been tremendous, have been tremendous, with directly and both directly and indirectly. indirectly. Directly- Directly, American American foreign trade Foreign trade has has been steadily dwin- been steadily dwindling. dling. . . . Indirectly Indirectly, the high -the high schedules schedules of the Hawley- of the Hawley-Smoot bill Smoot bill caused caused European European nations to nations to raise their raise their own tariff own tariff walls walls, and these walls not only against us but were raised not only against each other. against...
...before final enactment. This week the Senate Finance Committee was to start unscrambling the House bill. Because most Senators are highly opinionated on taxation, the committee will undoubtedly do much revising and rewriting. Later this month the measure will be solemnly escorted to the Senate floor by Utah's Smoot. There another protracted demonstration of tax juggling will ensue before the bill is finally passed weeks later. Next will come the inter-chamber conference at which Senators and Congressmen will haggle over whose juggling is better. In working out a compromise, they will be limited only by the provisions...
Historically the Sales Tax is a product of the economist's study. Its prime feature is its universality. The Wartime excise ("nuisance") taxes on a few commodities were a limited form of sales tax. Such conservative Republican Senators as Utah's Smoot and Pennsylvania's Reed have from time to time proposed it as an equitable levy but have never pushed it because of what appeared to be a solid U. S. tradition against direct Federal taxes on everybody. Any wealthy man who agitated for a sales tax was suspected of trying to wriggle out of income taxes. Chief sponsor...
...fourth and last appointment to the directorate of his Reconstruction Finance Corp. By law his choice had to be a Democrat, by preference a Westerner. Appointee was Judge Wilson McCarthy of Salt Lake City, who had the backing of Utah's Democratic Senator King and Republican Senator Smoot. Cattleman, banker, lawyer, Director McCarthy was a delegate to the Democratic National Convention where he boosted the Brown Derby...