Word: surtaxable
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...appears that, while some desirable purpose might be accomplished from the limitation mentioned, no gain in revenue could be expected. On the contrary, if lower officers' salaries were actually paid, a loss in revenue would result. This comes because high salaries bear not only the normal tax but heavy surtaxes, while distributions in dividends would bear no normal tax and, on account of the spread of the amount distributed among all the stockholders, would yield less surtax in the aggregate. In view of the above, your subcommittee refrains from making a recommendation on the subject...
...reasoning of the Congressional Committee's experts is that a surtax on an individual income gives the Federal Government more money than if the same amount is spread among a lot of small taxpayers, each of whom pays a small fraction. In other words, the theory of the income tax is that it is to the interest of the Government to see high salaries and bonuses paid because the present theory of taxation is to increase the tax rates materially on higher incomes...
...Considerable juggling with normal and surtax rates which will alter tax return arithmetic but make little cash difference to taxpayers. Taxes will be a trifle lower for married men, a trifle higher for single persons...
Decreasing the surtax on rectified spirits (cut liquor) from...
France signed with the understanding that it may place a 15% surtax on U. S. imports to counteract the fall of the dollar, may raise the surtax still higher if the dollar falls lower. To be excluded from France as an example of dumping is grain for which farmers receive guaranteed prices from a Government marketing agency...