Word: taxes
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Dates: during 1940-1949
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...Paragraph 2, you mention "... tax-exempt foundations and charitable trusts which hold title to most of the property in Little's $60-million textile empire." Only two of Textron's 26 plants are owned by tax-exempt foundations or trusts, and one of those is the Tobey-sponsored Nashua-New Hampshire Foundation...
...Paragraph 7, you state that the various "fiscal manipulations" of the trusts ". . . gave Textron an unfair advantage over taxpaying corporations." Textron is, of course, not tax free. In fact, as a result, in part, of the financial transactions referred to by you, Textron was able to increase its sales and therefore its taxes, enormously. In 1940, Textron paid less than $60,000 in taxes; in 1947, more than $6,000,000 in state and federal income taxes...
With tact, firmness, sympathy and inexhaustible good humor, he had prodded and pushed France's middleway government toward a balanced budget. He was urging more efficient tax collecting, more efficient production techniques. His staff had calculated that a rationalization of methods could increase output by 10% to 15% without longer working hours or new equipment. Impressed, the French government planned to set up a "national center of productivity," to send 1,500 executives, engineers and workers to study methods in the U.S. (the Communists had so far blocked these plans). Ahead lay other plans for reorientation of France...
Abbott also announced a cut in some corporate taxes, then set about wiping out or paring down excise and luxury taxes. The 15% travel tax on plane and rail fares and the tax on sleeping-car berths were dropped. So were taxes on long-distance telephone calls, telegrams, soda pop, gum and candy. The 25% tax on jewelry was shifted from retailer to wholesaler and reduced to 10% (immediate effect: retail stocks of jewelry were tax-free...
...last year, were split once before (in 1920) at 5 to 1; in the last 20 years they have sold as high as $3,200, never lower than about $200. The new split will bring them down to around $40, enabling present holders, when faced with inheritance or income-tax problems, to sell them more readily...