Word: taxes
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Dates: during 1940-1949
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...testimony came out through a House Ways & Means Committee inquiry into a tax question: should the lender, John A. Hartford, president of the Great Atlantic & Pacific Tea Co., be permitted a $196,000 income-tax deduction for his loss on the loan? By a strict Democratic majority, the committee voted not to challenge the deduction. Minority Republicans dissented. They also carefully noted the history of the loan, as described in testimony before the Bureau of Internal Revenue, and thereby recorded one of the most unusual chapters in the history of the 31st President...
...record, according to the minority, showed that the loan was made at a time when Congress was considering a chain-store tax that would cost A. & P. $6,625,000 annually. And it was settled by Jesse Jones at a time when the ailing Texas State Network was beginning to flourish, with signs that the stock might some day be worth the full $200,000. As it turned out, the radio chain is now a prosperous company, with Elliott's exwife, Texas-bred Mrs. Ruth Googins Roosevelt Eidson, as its president. (She and their children...
...eyed, hard-working Fred M. Vinson had a pleasant task to do this week. It was one that no other Treasury Secretary had done in 16 years-recommending a tax reduction. He told Congress that the Government could get along with $5 billion less revenue in 1946. That reduction was just about the total of tax collections in prewar years. By prewar standards, taxes would still be high (some $27.5 billion), but the Administration's program was good news all around...
...would repeal the 3% "normal" income tax, thus eliminate some 12,000,000 low-income Americans from the collectors' lists and lower the collectors' take from many more millions of middle-income earners. It would also repeal the 85.5% excess-profits tax on corporations and would end (on July 1, 1946) the high wartime excises on furs, jewelry, transportation, cosmetics...
Football-tickets--for the Tufts game this Saturday and all other games will be available before game time at Soldiers Field at $1,00 a ticket, including tax, the H.A.A. announced this week...