Word: taxed
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Dates: during 1940-1949
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...minimum of demand and a relatively stable demand; for these are the sine qua non for a prosperous economy. That does not mean a steady accumulation of public debt or continued inflation. It means, insofar as the broad objectives of public policy allow, minimum public expenditures and maximum taxes (and repayment of debt) in periods of exuberance (1946-48), and increased public expenditures and minimum taxes in periods of depression. It means lacing public activity with private. The way to deal with inflation is to reduce the amount of money at the disposal of, consumers, not to reduce tax rates...
Unfortunately, in Roosevelt's day the correct theory of fiscal policy had not quite jelled; and even Roosevelt could not overcome his nurtured fear of debt. The Democrats, therefore, did not, as they should have, introduce an adequate policy of tax reduction in the thirties. With the New Dealers back in the saddle, we may except in the immediate future minimum expenditures consistent with broad public objectives; and no tax reduction, and possibly an increase in tax rates. This is the time of pay off debt: this country should pay off $10 billion of debt in the next year...
...public finance. But the Democrats would be foolish indeed if they were wedded to a single principle of public policy. Modern fiscal policy concentrates on the stability objective; but the Government must also be concerned with equity. Fiscal policy in a great inflation may well call for sales taxes and heavy income taxes on the masses. Indeed, the 1948 tax bill reflected incorrect fiscal policy because it involved reduced taxes; but it may well have mirrored correct fiscal policy in that it put an increased relative burden on the masses who account for the largest part of consumption...
...cars, most of the new models were aimed at U.S. trade. They had the wide grillwork which Britons call "the Dollar Grin." Daimler's pastel green, 150-h.p. convertible, with hand-built body, was the show's most expensive car. In England, with a $10,000 tax, it costs $28,000. U.S. price: about...
...ever. Chrysler Corp. reported a record nine-month net of $59,887,601 (up 25%). Packard's net for the same period was $9,488,336 (v. a $131,478 loss in the 1947 period). Kaiser-Frazer turned in $8,253,451 after deducting $5,900,000 in taxes (v. $6,089,000 in the 1947 period, when no taxes were paid. K-F's earnings were tax-free because of a carry-back). But K-F's third-quarter net of $2,058,000 was almost 74% below tax-free 1947-Divorce. A federal district court...