Word: taxed
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Dates: during 1930-1939
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...silver spoons in their mouths and brought up in the stodgiest of rich, conservative societies, Roosevelt among the squires of Dutchess County, Earle on Philadelphia's "Main Line,"* among Pews, Biddies, Cadwaladers, Morrises and other families found in the Social Register and the upper brackets of the income tax...
...John Simon's job has been to stall off deputations that have been to the Treasury with proposals about the new tax...
...Federal tax on undistributed corporate earnings might have grieved Business less had it come a year later than it did, because it so happens that working capital is the particular need of industry in 1937. This was made abundantly clear in the first statistical study of the subject published by Business Week last April at the suggestion of Vice President Fenton B. Turck of American Radiator & Standard Sanitary Corp. By the end of last year booming sales had necessitated enormously bigger inventories and inventory costs had jumped with the prices of raw materials. Industrial payrolls, furthermore, had swollen 30% since...
...love of their stockholders which moved many a board of directors to pay out as much as 99% of earnings in dividends rather than 27% in surplus profits tax. Contented stockholders would buy more stock, return to their company as much cash or more than they received in dividends. One of the first big companies to go the whole hog on this method of making everybody but the Collector of Internal Revenue happy was Sears, Roebuck & Co., which paid out approximately all it earned to its 34,500 stockholders, then proceeded to sell them $43,000,000 worth...
Example: Jones, Ltd. earn $20,000. One-fifth of the difference between that sum and $60,000 is $8,000. So from their $20,000 income, Jones, Ltd. deduct $10,000 plus $8,000 and pay Simple Simon's Super Tax of 5% on $2,000 of profits, over and above their normal 25% tax...