Word: taxed
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Dates: during 1940-1949
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...gaudier than California's Proposition 4. One out of every twelve persons in the state would get financial assistance for two years and the other eleven would pay almost as much to keep them as the Government spent building Grand Coulee Dam. Unless it instituted a sizable new tax program, the state was almost certain to go into...
...troubles were largely due to initiative 172, a pension measure put over last autumn by the Communist-dominated Washington Pension Union and its president, a crafty, smooth-talking party-liner named William J. Pennock, 33. Under its terms the old folks not only get money for mortgage payments, rent, tax assessments, insurance, food & clothing, but free medical & dental care, free hospitalization, free home-nursing service and free medicines, glasses and artificial limbs...
Mexican silver production is strictly regulated by the government, which imposes a 15% tax on exports to support the value of silver in the Manhattan free market.* For more than a year Mexican treasury officials had suspected a big leak in silver shipments. Despite controls, there always seemed to be enough high-grade Mexican silver in Manhattan to cause prices to fluctuate between 70 and 77.5 cents an ounce. Earlier this year, Beteta put some of his best investigators on the problem...
...silver pesos, with an estimated profit of more than $1,000,000. All the silver had been turned over to a notorious smuggler named Roberto Maese, who moved it across the border to El Paso. Each deal had at least two profitable angles: 1) it evaded the export tax; 2) the bank sent out old-style silver pesos, whose metal value is now higher than the face value, and replaced them in its own accounts with paper money...
Vandeveer gave two main reasons for selling: 1) tax laws which "encourage small businessmen to take their earnings in capital gains instead of paying taxes on current income" ("you have to sell out"); 2) the problem of paying inheritance taxes. As the two partners owned almost all the corporation's stock, the shares had no established market value. A public sale, said Vandeveer, would have brought a price far below the company's worth as a going concern. Yet it was precisely Allied's value as a going concern which the Government would have used...