Word: tax-exempt
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...additional inheritance tax on tax-exempt securities and a denial of deductions in income from such securities...
...that decreasing surtaxes is the way to do this, and points with considerable justification to increased Government revenue this year which has followed the reduction of maximum surtaxes from 65% to 50% and the abolition of the excess profits tax. The reason for this, he believes, is less tax evasion either by falsification of returns or by investment in tax-exempt securities, non-productive forms of investment. He is inclined to think that the maximum surtax should be not more than...
...past meetings of the Chamber of Commerce. They included the cessation by this country of a negative attitude of aloofness toward foreign nations, the private ownership and operation of our railroads, the granting of a subsidy on our merchant marine, readjustment downwards of the income surtaxes, prohibition of future tax-exempt Federal security issues, approval of restrictive immigration, opposition to the soldiers' bonus, advocacy of the " flexible tariff," unqualified endorsement of the Federal Reserve system and opposition to unwise changes in the Federal Reserve...
...Ford, however, agreed to lend Detroit the money it needed at 4%, and $500,000 is reported to have been already advanced. By so doing, Mr. Ford, of course, acquires tax-exempt securities on a reasonable basis, and thus removes a considerable amount of his future income from the tax-gatherer's reach. This fact, however, is quite disregarded in the publicity given Mr. Ford as a new rival to the financial center...
...vice of the situation lies in the existence of high surtaxes in conjunction with the continued issuance of tax-exempt securities. Adoption of a constitutional amendment to restrict further issues of tax-exempt securities, coupled with legislation closing the gaps in the income law, is a final but far from immediate solution. And it will not eliminate tax-exempt state and municipal bonds now outstanding. Awaiting their retirement will postpone the date of complete solution. Only reduction by Act of Congress of the surtax rates to a level at which the inducement to invest in tax-exempt securities becomes negligible...