To Provide Revenue for War Purposes: Hearings Before the Committee on Finance, United States Senate, Sixty-fifth Congress, Second Session, on H.R. 12863, to Provide Revenue, and for Other Purposes ... |
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Page 9
I have striven , with other people , to estimate what it would bring , tried to make deductions from the clearing houses , but I am unable to make any suggestion at all . The retail sales of this country , speaking commercially ...
I have striven , with other people , to estimate what it would bring , tried to make deductions from the clearing houses , but I am unable to make any suggestion at all . The retail sales of this country , speaking commercially ...
Page 30
In 1918 it is estimated that approximately $ 14,000,000,000 will be received by people making income tax returns , from which $ 3,500 ,000,000 should be deducted as dividends . This averages about $ 1,600 per family .
In 1918 it is estimated that approximately $ 14,000,000,000 will be received by people making income tax returns , from which $ 3,500 ,000,000 should be deducted as dividends . This averages about $ 1,600 per family .
Page 32
Gross income might not take two - thirds of it , and there would have to be deductions before you would get to the net . Mr. Marsh . I think not in the way I use the word “ gross . ' I mean to say , with the income received from ...
Gross income might not take two - thirds of it , and there would have to be deductions before you would get to the net . Mr. Marsh . I think not in the way I use the word “ gross . ' I mean to say , with the income received from ...
Page 47
3 , 230 , 980,000 Mercantile 90 , 160,000 Miscellaneous 636 , 169 , 000 Ample deduction having been made , it would seem perfectly reasonable to levy a tax of 90 per cent upon these war profits , which would yield $ 3,875,000,000 . 2.
3 , 230 , 980,000 Mercantile 90 , 160,000 Miscellaneous 636 , 169 , 000 Ample deduction having been made , it would seem perfectly reasonable to levy a tax of 90 per cent upon these war profits , which would yield $ 3,875,000,000 . 2.
Page 64
The bill as introduced in the House provides a $ 2,000 deduction for him individually . Then the United States is calculating to collect $ 965 due by him , and his expenses for this year will , conservatively speaking , run him over ...
The bill as introduced in the House provides a $ 2,000 deduction for him individually . Then the United States is calculating to collect $ 965 due by him , and his expenses for this year will , conservatively speaking , run him over ...
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actual additional allowed amendment amount apply Association basis believe bill bonds capital cent CHAIRMAN charge committee concerns Congress consideration corporation cost course deduction Department dividends earnings effect entire excess exchange exemption fact follows gentlemen give going Government hear House imposed income increase individual industry interest invested invested capital less manufacturer matter mean medicinal meet Mill mines musical necessary operation organization paid period person practically preparations present President production profits proposed purchase question reason received reference represent result revenue sell Senator JONES Senator PENROSE Senator SMOOT Senator THOMAS shares sold speak statement submitted suggestion taxation thing tion trade Treasury understand United York
Popular passages
Page 207 - ... whether made upon or shown by the books of the association, company, or corporation, or by any assignment in blank, or by any delivery, or by any paper or agreement or memorandum or other evidence of transfer or sale...
Page 316 - That the provisions of this shall not be construed to apply to the sale, distribution, giving away, dispensing, or possession of preparations and remedies which do not contain more than two grains of opium, or more than one-fourth of a grain of morphine, or more than one-eighth of a grain of heroin, or more than one grain of codeine, or any salt or derivative of any of them in one fluid ounce, or. if a solid or semisolid preparation, in one avoirdupois ounce...
Page 290 - The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts, either during the term or at the maturity of the term mentioned in the contract or upon surrender of the contract...
Page 321 - ... or any salt or derivative of any of them in one fluid ounce, or, if a solid or semisolid preparation, in one avoirdupois ounce ; or to liniments, ointments, or other preparations which are prepared for external use only, except liniments, ointments, and other preparations which contain cocaine or any of its salts or alpha or beta eucaine or any of their salts or any synthetic substitute for them...
Page 207 - Provided further, That the tax shall not be imposed upon deliveries or transfers to a broker for sale, nor upon deliveries or transfers by a broker to a customer for whom and upon whose order he has purchased same, but such deliveries or transfers shall be accompanied by a certificate setting forth the facts: Provided further.
Page 243 - ... uttered, vended, or exposed for sale under any letters patent, or trade-mark, or which, if prepared by any formula, published or unpublished, are held out or recommended to the public by the makers, venders, or proprietors thereof as proprietary medicines or medicinal proprietary articles or preparations, or as remedies or specifics for any disease, diseases, or affection whatever affecting the human or animal body...
Page 594 - In the case of a corporation or partnership — (1) Actual cash paid in, (2) actual cash value of tangible property paid in other than cash for stock or shares in such corporation...
Page 586 - ... a reasonable allowance for actual reduction in flow and production to be ascertained not by the flush flow, but by the settled production or regular flow; (b) in the case of mines a reasonable allowance for depletion thereof not to exceed the market value in the mine of the product thereof which has been mined and sold during the year for which the return and computation are made...
Page 480 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...
Page 32 - I say sustained so far as may be equitable by taxation because it seems to me that it would be most unwise to base the credits which will now be necessary entirely on money borrowed. It is our duty, I most respectfully urge, to protect our people so far as we may against the very serious hardships and evils which would be likely to arise out of the inflation which would be produced by vast loans.
Bibliographic information
| Title | To Provide Revenue for War Purposes: Hearings Before the Committee on Finance, United States Senate, Sixty-fifth Congress, Second Session, on H.R. 12863, to Provide Revenue, and for Other Purposes ... Part 1 of To Provide Revenue for War Purposes: Hearings Before the Committee on Finance, United States Senate, Sixty-fifth Congress, Second Session, on H.R. 12863, to Provide Revenue, and for Other Purposes, United States. Congress. Senate. Committee on Finance |
| Author | United States. Congress. Senate. Committee on Finance |
| Publisher | U.S. Government Printing Office, 1918 |
| Original from | the Library of Congress |
| Digitized | 13 Sep 2006 |
| Length | 656 pages |
| Export Citation | BiBTeX EndNote RefMan |