Word: taxed
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Dates: during 1930-1939
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Wheat and corn acreage and marketing quotas would be based on the aim of giving a bushel of either the same purchasing power it had between 1909 and 1914. The Government would impose on every bushel sold over Department of Agriculture marketing quotas a penalty tax of 50% of its price-provided that, in a referendum before the scheme goes into effect, two-thirds of the farmers affected approve the plan. Secretary Wallace's ever-normal granary would apply to both crops: the Government would begin to buy wheat for use in periods of scarcity when the supply...
...Senate last week, 18 of the 20 members of the Senate Finance Committee went on record for modifying the undistributed profits tax. Strongest opposition to the tax came from the Committee's Chairman Pat Harrison who, having failed by one vote to beat Kentucky's Alben Barkley for the Senate Democratic Leadership last summer, no longer feels any inhibitions about speaking out on fiscal policies which may or may not have Presidential favor. Said he: "The main thing I have in mind is employment, and if private industry is given some encouragement it will help. Today...
...Senate floor, North Carolina's Josiah Bailey used the immediate necessity of dealing with taxation as grounds for postponing consideration of antilynching. Said he of the undistributed profits tax, "Let's repeal it today. . . . Even the President says it isn't working. ..." Aware that any plan to do anything about taxation must originate in the House, enthusiastic Senator Bailey proposed that the Senate adopt a resolution "to repeal this tax just as soon as we get something from the House to which we can attach a repealer...
...marshaling the grievances of Business. As alert as a college debater, the Secretary thoughtfully pursed his lips while Virginia's Senator Harry F. Byrd ("We might carry out the Democratic platform") and Morgan Partner S. Parker Gilbert ("Nothing would accomplish more . . . than the repeal of the undistributed profits tax") proceeded to needle the New Deal's fiscal policy...
...increase employment. . . . Private enterprise, with co-operation on the part of Government, can advance to higher levels of industrial activity than those reached earlier this year. . . . Such advance will assure balanced budgets. . . . If private enterprise does not respond, Government must take up the slack. ..." On the subject of taxes, the President in effect reiterated what his Secretary of the Treasury had said a few days earlier (see p. 16), in proposing to remove "unjust provisions." He also warned that "modifications adequate to encourage productive enterprises, especially for the smaller businesses, must not extend to the point of using the corporate...