Word: surtax
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...certainly know my Achilles' heel, Mr. Benson"), buys yachts ("How many does it-er-sleep?"), invests in mink ("She got it by going 'brrrr' in front of Bergdorf's"). But what may be his final fling finds him corralled at last by a barbed-wire surtax: while his stern better half sits guard near by, the fat, fading Park Avenue playboy casts a hungry eye toward a torch singer's double exposure-on television...
...before wickets to fork over their $5. They were getting under the wire with payment of the new head tax levied by the CCF for the first Government-controlled hospitalization plan in North America. Maximum tax: $30 a family a year. Those who failed to pay faced a 10% surtax and a $25 fine. All told, the CCF collected about $2,000,000. That, plus the $1,000,000 coming from other Government revenue, was considerably short of the $4,500,000 a year the plan is expected to cost...
...individuals, the new bill extends the $500 exemptions for the taxpayer and for each dependent to normal as well as surtaxes, thus eliminates all income taxes for 12,000,000 citizens who have been paying small amounts. It also decreases the surtax rate, provides a 5% overall reduction of the tax besides and thus reduces total individual income-tax payments by $2,644,000,000. But the 36,000,000 citizens who will still pay taxes will still pay vastly more than before the war. The 1946 scale, computed on net income after deductions for expenses, charity, interest...
...over; and its products will come under rigid price control. Further, it must be prepared to pay the British income tax, currently 50% of net profits, along with an excess-profits tax (100% for an established company, 90-92% for a new company). There is also a personal surtax "at heavy graduated rates" for executives...
...Reduce individual income taxes to 10% normal tax and 50% maximum surtax (or alternatively, leave out the sales tax and have a maximum 65% surtax...