Word: taxed
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Dates: during 1930-1939
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...good humor one day last week when his newshawks came to press conference. The session had been postponed from the usual 10:30 a. m. to noon to get maximum attendance. Soon he was pouring into their ears a tale of unethical practices, of rich men who had avoided taxes by hiring high-priced lawyers to find loopholes in the law. He had before him case histories provided by the Treasury Department. One man had incorporated his yacht and transferred to the corporation $3,000,000 in securities. Much of the income from these securities then escaped taxation, being used...
Eager newshawks began questioning. How much revenue had the Treasury lost by such schemes? He could not say, exactly. Had this tax-dodging just sprung up? No, it had been growing for several years, but lately it was much worse. How many people were engaged in it? Not many, perhaps about 150 of the very rich. Who was the yacht owner? Oh, it was illegal to name the tax-dodgers out of court. They would come out. A Congressional investigation can reveal anything...
Newshawks smacked their lips over a good story and a better one to come, for tax-dodging tycoons are juicy copy. But newshawks were gently cynical, just two years ago at this time the President put forward his soak-the-rich inheritance, gift and surtaxes. Early last year he put forward his undivided profits tax on corporations. Some suggested that Franklin Roosevelt was having a periodic attack of soak-the-richitis...
Upon the economic and social consequences of either chain stores or chain store taxes, it is not the duty of the Supreme Court to pass. In arguing its case A. & P. predicted that with validation of the Louisiana levy "the era of the national chain is over," perhaps that the "era of national corporations and of firms or individuals doing business in more than one State is over." By last week it had become apparent that the Louisiana tax decision might become a potent weapon in (he war on Bigness. The words of Justice Roberts meant that through tax discrimination...
Chain store taxes similar to Louisiana's are pending in several other States and addition of a few more States to the tax column would take a sizable chunk of A. & P.'s profits. Long were the conferences in A. & P. executive offices in Manhattan last week but no company comment was forthcoming, an "official spokesman" merely observing: "Mass distribution is not static." Two alternatives to chain store merchandising are already showing hardy growth-the supermarket and the voluntary chain. Not unlike the "Iowa Plan" by which oil companies sell filling stations to their operators (TIME...