Word: tax-exempt
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...committee cried: "The tremendous financial gains made by labor organizations during the period of the defense effort and the vast amount of funds and assets in their treasuries present an astounding picture of concentration of wealth, a situation heretofore usually associated only with industry and finance. These vast tax-exempt funds reposing in the treasuries of labor organizations, many of whom by strikes and work stoppage have delayed and . . . even obstructed the defense program, present a problem which . . . should well be considered by the Congress...
...Tax-exempt Government bonds for big investors...
...rich men speculated. It further agreed that the Government would henceforth collect taxes on real estate (hitherto a perquisite of the local governments) under an ingenious system by which landowners will make their own assessments, with the Government reserving the right to buy the land if the assessments are considered too low. This will bring to the central Government revenue which it badly needs. It should put the burden of taxation on the class which can best afford it-the landlords, who have been virtually tax-exempt because they control the local governments, who do most of the speculating...
...Removing the tax-exempt clause...
...sales taxes or processing taxes which do not disturb profits, but soak the consumer. Ability to pay he fixed as the guiding principle. From these clues taxperts could guess the shape of the bill that will destroy next spring's beauty for many a citizen: stiffer excess-profits taxes* (not a straight-out increase in regular corporate income-tax rates); another increase in surtax rates on incomes, probably on those in the so-called "savings" brackets, between $15,000 and $500,000. In the making, taxperts guessed, was some bludgeon being tooled to club upstanding tax-exempt securities into...