Word: smoot
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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...
...Smoot-Hawley Tariff
...face of these facts Congress passed the Smoot-Hawley tariff. Duties were raised or new ones imposed on commodities whose import value in 1928 was $1,133,000,000, while duties were removed or reduced on articles of import whose total value in 1928 was $214,000,000. This amounted to a demand on our part that the world pay us less in goods and more in gold, despite the huge hoard which we already possessed, the weakness in many currencies and the dire need of debtor nations for a better opportunity to sell goods...
...School, New York City; C. I. Shaptro, Loug Branch Senior High School, Long Branch, N. J.; R. H. Sherry, Erasmus Hall High School, Brooklyn, N. Y.; J. A. Shimer, Derby Academy, Hingham; E. J. Silbermann, Boston Latin School; H. L. Smith, Jr., Central High School, Springfield, Conn.; C. H. Smoot, Jr., Gunney School, Washington; N. J. Sondheim, Brookline High School; G. F. Stork, William Penn Charter School, Philadelphia, Pa.; Jack Stutman, Boston Latin School; E. D. Sullivan, Boston Latin School; Henry Swan, Jr., The Phillips Exeter Academy; L. N. Tritter, Boston Latin School...