Word: taxes
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Dates: during 1940-1949
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...Interest on national debt: $5 billion. ¶ Tax refunds to individuals and corporations: $2.1 billion. ¶ Army & Navy: $11.2 billion (by far the largest single item). ¶International affairs: $3.5 billion-including $1.2 billion for the loan to Britain and $14.8 million for U.N. ¶ Veterans' services: $7.3 billion. ¶ Transport, communications and natural resources: $2.6 billion (including $443 million for atomic energy). ¶ Agriculture: $1.4 billion (onefourth of it for support of crop prices). ¶ Social welfare, health and security: $1.7 billion...
...comfortably. But there was a hard-rock basis to many items. Few thought that national defense could be had more cheaply, except by merging the armed forces. The $5 billion for debt service was sacrosanct; so was the loan commitment to Britain; so were nearly all veterans' benefits, tax refunds and pensions...
These added up to more than $27 billion of hard rock. Thus most of the promised cuts would have to come out of the ordinary operations of government. Some could be made, thus justifying tax cuts. But many a citizen thought it might be better to leave taxes alone and reduce the debt-$260 billion-instead...
Other legislation would follow in this order: reduction of Government expenses and income tax; then important odds & ends like limiting the President to two terms and knocking off the poll tax; and last, unification of the services...
...suits out of court. Few experts thought it would be that easy, or that the retroactive provisions would be constitutional. But other bills were being readied for the congressional hopper, in a frantic attempt to slam the door on portal pay. One of them would levy a 100% windfall tax on retroactive portal payments...