Word: taxed
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Dates: during 1940-1949
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...also asked for universal military training, broadening of social security, extension of reciprocal trade treaties for three years. He wanted repeal of the Taft-Hartley law and re-enactment of the Wagner Act with some "improvements" such as a ban on jurisdictional strikes. Then he called for new taxes to raise $4 billion in additional revenues and five days later sent along a 1,400-page budget to explain it. He no longer advocated, as he had last year, restoring the wartime excess-profits tax. He urged Congress instead to get the money by raising rates on straight corporation taxes...
...annual budget message, the President proposed a record peacetime high in spending: $41.9 billion. (Estimated expenditures this year: $40.2 billion.) He asked for a $5.9 billion tax boost,* even though, at current tax rates, estimated revenues for fiscal 1950 are only $873 million shy of what he proposes to spend. The trouble is, the President explained, there is always a lag in collections...
Arms and foreign aid together, said the President, would take 50? of every tax dollar next year. The items...
...most cogent argument against expansion was that it now costs an estimated $300 to add one ton of new capacity for finished steel (v. $75 prewar). Yet tax allowances for depreciation do not take the high replacement cost into account. For example, much of the cash being put in U.S. Steel's depreciation reserve has come out of profits and, as such, is taxable...
Deduction. In Palermo, Sicily, Giovanni Villa, who has spent four years trying to get himself declared officially alive, complained that the only person convinced thus far is the tax collector...