Word: taxed
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Dates: during 1930-1939
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...months, in corridors and cloakrooms, at cocktail parties and committee hearings, Washington has been talking about three "baskets." These "baskets" were neither wicker containers nor scoring points in a game but Congressional slang for different sections of the new tax bill-each basket being designed to> catch a certain type of taxpayer. Most discussed has been the "third basket," for it carried the largest load of a pet Administration theory-the tax on undistributed profits...
...this duplicate hugeness was joined under one top. The result, according to the U. S. Bureau of Internal Revenue, was not only the biggest circus ever but one of the fanciest conspiracies "against the peace and dignity of the U. S." on record. Last week the circus income tax evasion case, touring one legal phase after another for over five years, pitched its tents in Manhattan as the Government began its prosecution...
...average annual $720,000 net which indicates that the Big Top was a much smaller Big Business than it was cracked up to be. But, said the Government, Ringling Lawyer John M. Kelley and the two onetime revenue agents who had helped him prepare income tax returns had made it out to be an even smaller business: they reported net profits for the 15 years of only $4,324,000, an annual average of under...
Federal Judge Murray Hulbert and a Grade A jury heard notes of awe and amazement in Attorney Burns's voice as he made it clear that the Ringling tax tricks, exuberant, huge and clever, were worthy of the late great Phineas Taylor Barnum. The Government charged that many of the evasions were run of the mill failures to report full income from gate, concessions, dividends, stock manipulations and "false, fictitious and fraudulent" deductions for debts. Among the latter was one for $50,000 from the late Promoter George L. ("Tex") Rickard, allegedly subtracted twice. But in the centre ring...
...which to keep them, so those were also listed as abandoned-so were wagons, horses and railroad cars. "Bridgeport, Conn.," said Mr. Burns in a rather bitter mood, "must have resembled a jungle when the circus moved from there to new winter quarters in Sarasota, Fla. in 1927. Income tax returns for that year show the abandonment of 46 elephants, 23 camels, 23 lions, 18 bears, hundreds of monkeys and some 800 horses...