Word: snyders
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Dates: during 1950-1959
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...Indicated that general wage and price controls would be put into effect. Treasury Secretary John Snyder said they would be necessary "to avoid damaging inflation...
...whole passel of notables, headed by Defense Secretary George Marshall, Treasury Secretary John W. Snyder, four state governors, 15 generals, two admirals and seven former American Legion commanders, jammed into Dawson to pay their respects to big Erle and watch a two-mile-long parade which included everything from fancy-gaited horses to drum majorettes who, on a chilly afternoon, wore more goose pimples than clothes...
...Expensing the Excess." If Snyder was a lukewarm advocate, several onetime New Dealers were passionately opposed to the tax. Ex-OPA Boss Leon Henderson, now a businessman's consultant, termed the tax "a built-in barrier to new investment." War profits, said Henderson, should be kept down by constantly renegotiating military contracts. He insisted that World War II's excess profits tax had not caught profiteers: "Only one out of every six corporations that earned any income paid an excess profits tax . . . No statistician will ever figure out how many corporations escaped E.P.T. by the simple device...
...industries that might otherwise be born will never see the light of day." But the New York Times laid its editorial finger on the most glaring inequity of E.P.T. President Truman had asked for the tax to "recapture excess profits made since the start" of the Korean war. But Snyder's proposal, the Times pointed out, regards one-fourth of pre-Korean profits as "excessive." Snapped the Times: "This should not be called a war profits tax at all, but a tax on the housing, auto and television boom...
...witnesses had alternative proposals of their own, e.g., higher corporate income taxes, flat across-the-board profits levies. On the committee itself, New York's Republican Representative Daniel A. Reed tried to offer a plan to permit corporations to choose between a flat 55% corporate income tax or Snyder's 75% excess profits levy. But Chairman Robert Lee ("Muley") Doughton, 87-year-old North Carolina Democrat, refused to listen to any alternatives, insisted that Congress had given him a "mandate" to report out only an excess profits tax in time for the lame duck session...