Word: supertax
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Dates: during 1930-1939
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...Contribution. Irrespective of whether a firm's profits are increasing so fast as to suggest "profiteering" or not, Simple Simon's tax is to bear with equal weight on virtually all British firms with annual net profits of more than $10,000 per year. It is a supertax. Its intent is to raise the existing average 25% income tax on British firms to 29% in the case of partnerships, 30% in the case of corporations. Exempt from such super-taxing for Rearmament are to be salaried employes, doctors, lawyers, accountants and professional people generally-very few of whom...
...Scullin tariff imposes a 50% supertax on numerous importations including cigarets, locomotives, spirits, matches. Eighty commodities are totally barred from importation by one of the stiffest embargoes ever imposed...