Word: taxed
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Dates: during 1930-1939
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...strangled the rabbit because Undersecretary Hanes bred it without even a stump of the undistributed profits tax tail which Franklin Roosevelt so much admired in the 1936 tax rabbit bred by the late Herman Oliphant.-In simple terms, the Hanes formula...
...Abolish the undistributed profits tax. substituting a flat 18% corporation income tax with special exemptions for small business...
...mattered not to the President that his Commerce Department's own Business Advisory Council had promulgated a tax revision program just like John Hanes's. What the President stuck for was the undistributed profits tax, a symbol to him of taxation-for-social control. Its aim is to force rich corporations to distribute earnings instead of keeping them in surplus. It also forces not-so-rich corporations to pay out, in dividends, earnings which they may need for capital expansion, or to pay debts, or as insurance against lean years. When Chairman Pat Harrison of the Senate Finance...
...deny that he and John Hanes and Herbert Gaston and anyone else from the Treasury who might be invited to the Capitol, were forbidden to recommend any tax revision...
Deficit-financingwise: During the two War years, Government pumped an average of $11,000,000,000 a year of new money over & above its tax collections into the economy. This was four times its present rate of contribution...