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 ... |
From inside the book
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Page 16
... profits of a broker on the Baltimore Exchange and the profits of a broker on the New York Exchange ? Mr. HINKLEY . I have not that information . It will be very diffi- cult to arrive at , because you would have to take the average of ...
... profits of a broker on the Baltimore Exchange and the profits of a broker on the New York Exchange ? Mr. HINKLEY . I have not that information . It will be very diffi- cult to arrive at , because you would have to take the average of ...
Page 30
... profits tax , whether it is 80 per cent or 90 per cent , he is then taxed on his net income . We want 90 per cent of the war profits . We do not want to penalize anybody , but we let slip about a couple of billion dollars in war profits ...
... profits tax , whether it is 80 per cent or 90 per cent , he is then taxed on his net income . We want 90 per cent of the war profits . We do not want to penalize anybody , but we let slip about a couple of billion dollars in war profits ...
Page 44
... profits tax for 1917 was $ 1,691,000,000 , while their war profits amounted to $ 5,204,864,000 . An 80 per cent tax on war profits would have yielded about $ 4,163,000,000 . The actual tax paid was equal to 32.5 per cent of the war ...
... profits tax for 1917 was $ 1,691,000,000 , while their war profits amounted to $ 5,204,864,000 . An 80 per cent tax on war profits would have yielded about $ 4,163,000,000 . The actual tax paid was equal to 32.5 per cent of the war ...
Page 47
... profits tax : The war profits - that is , the profits over the three- year prewar period - were , last year , approximately $ 5,295,000,000 , as shown above . Had we levied a war tax of 80 per cent , we would have secured approxi ...
... profits tax : The war profits - that is , the profits over the three- year prewar period - were , last year , approximately $ 5,295,000,000 , as shown above . Had we levied a war tax of 80 per cent , we would have secured approxi ...
Page 48
... profits tax , should equally be sub- jected to such a heavy tax . The rates suggested for the personal income tax ... profits can be adequately covered into the Public Treasury through war profits and income taxes . The failure to adopt ...
... profits tax , should equally be sub- jected to such a heavy tax . The rates suggested for the personal income tax ... profits can be adequately covered into the Public Treasury through war profits and income taxes . The failure to adopt ...
Common terms and phrases
20 per cent amendment amount bonds borrowed brokers cent tax CHAIRMAN charge CONGRESS THE LIBRARY corporation cost deduction dividends dollars earnings excess excess-profits tax exemption fact Federal flat tax gallon gentlemen going Government Harrison Act House income tax increase industry Internal Revenue invested capital levied Liberty bonds manufacturer Means Committee medicinal ment Mill sold mines musical net income NEURAT operation organization paid par value platinum President production proposed purchase purpose represent retail revenue bill sell Senator GORE Senator JONES Senator LODGE Senator MCCUMBER Senator PENROSE Senator ROBINSON Senator SMOOT Senator THOMAS Senator TOWNSEND September 18 SHEA statement stockholders submitted suggestion taxable taxation taxicab theater thing tion to-day tobacco trade trade-mark Treasury Department United United States Senate War Industries Board Waxahachie whisky York
Popular passages
Page 205 - ... 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 314 - 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 288 - 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 319 - ... 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 205 - 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 241 - ... 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 592 - 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 584 - ... 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 478 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...
Page 30 - 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.