Word: taxes
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Dates: during 1940-1949
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Last week the U.S. Bureau of Internal Revenue admitted that such transactions were legal and that the number of people who had taken advantage of them was "way up in the thousands." It hoped before long to find some way to plug the leak of U.S. tax revenue...
...budget, Canada had cut off the 15% wartime excise tax on air and rail tickets (TIME, May 23). In the U.S., a 15% tax was still on. The knowing traveler simply mailed his ticket order to a Canadian office (or went in person if he lived at a border point such as Detroit or Buffalo) and saved himself the amount of the tax. Sample saving on a round trip from Washington to Los Angeles...
...town stores and Butler Bros., largest U.S. wholesaler of general merchandise and also operator of 170 retail stores. Neither the Herberger hustle nor the magic of the Du Pont name could get the oldtime profits out of the 62-year-old company. Instead, Butler Bros, lost $4.3 million before tax carrybacks in 1947, squeezed out a small profit last year, but dropped $287,632 in 1949's first quarter. Its stock fell fcom 15 to 7 in two years...
When President John J. McCloy of the International Bank for Reconstruction and Development quit his job last week (see NATIONAL AFFAIRS), the bank, as all good businesses should, had someone to step into his shoes. Into the $30,000-a-year (tax free*) presidency went the U.S. Executive Director Eugene Robert Black, 51, senior vice president of Manhattan's Chase National Bank...
Members of both the American Medical and Dental Associations testified yesterday against the health bill. Dr. Louis H. Bauer, a member of the AMA's Board of Trustees assailed the payroll tax insurance plan as "an extreme example of compulsory paternalism, "wrong in principle and impossible of practical operation...