Word: taxed
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Dates: during 1930-1939
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...Worked over the House's changes in Social Security so as to: 1) freeze at 1% (instead of 1½%) the old-age insurance tax for both employer and employe; 2) raise widows' payments; 3) start payments in 1940 instead of 1942; 4) increase payments to workers who leave employment early (before 60). In the old-age grant section, the Senate provided that the U. S. should contribute $10 for the first $5 put up by a State, match dollars thereafter, thus assuring a total grant of $25 per month for needy oldsters in States willing to give...
...Celebrated during the inquisition of J. P. Morgan by Counsel (now New York Supreme Court Justice) Ferdinand Pecora, was a notation found on an income-tax return, made by an Internal Revenue agent, which read: "Returned without examination for the reason that the return was prepared in the office of J. P. Morgan & Co., and it has been our experience that any schedule made by that office is correct...
...Bureau of Internal Revenue last week finished counting the dollars it took in during fiscal 1939. They totaled $5,181,665,738, a drop of $477,099,576 from 1938. Off most sharply were individual income tax payments, which fell $257,386,851. Pay roll taxes were off only...
...years fiscal experts of every U.S. administration have advocated ending the tax exemption of Federal. State and municipal securities. Reasons: 1) it would close an avenue of surtax escape to the rich, 2) would halt the diversion of capital from productive private enterprise, 3) would discourage extravagant borrowing by local governments. But to New York City's peppery little Mayor LaGuardia, head of the U. S. Conference of Mayors, the whole idea is ugly...
...fellow mayors it would mean paying more for the money they borrow. Last week he told a House committee that ending the tax exemption would destroy the credit of U. S. municipalities. More interesting than his arguments was his threat: "If you tax the bonds of the City of New York, I'll tax every bit of real estate the Federal Government owns in New York. And I'll collect...