Excess Profits Tax Extension: Hearings Before the Committee on Ways and Means, House of Representatives, Eighty-third Congress, First Session, on the President's Recommendation to Extend for 6 Months the Excess Profits TaxU.S. Government Printing Office, 1953 - 764 pages |
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Page 68
... growth , growth of our economic enterprise . If you actually have a tax that is un- dermining that growth and destroying it , you are actually digging into the tax base . You are actually eating into capital , as I see it . I do not ...
... growth , growth of our economic enterprise . If you actually have a tax that is un- dermining that growth and destroying it , you are actually digging into the tax base . You are actually eating into capital , as I see it . I do not ...
Page 74
... growth business . The issue before us , then , is simply this : Is it fair and , more im- portantly , is it wise or sound fiscal policy , to raise this $ 800 million by taxing , at an almost confiscatory rate , the one small segment of ...
... growth business . The issue before us , then , is simply this : Is it fair and , more im- portantly , is it wise or sound fiscal policy , to raise this $ 800 million by taxing , at an almost confiscatory rate , the one small segment of ...
Page 75
... growth sales which puts us in the excess - profits tax bracket . So we must now pay a tax of 82 percent on this added growth . Where have this leave us ? After modest dividends to our stockholders , we have left only $ 700 thousand of ...
... growth sales which puts us in the excess - profits tax bracket . So we must now pay a tax of 82 percent on this added growth . Where have this leave us ? After modest dividends to our stockholders , we have left only $ 700 thousand of ...
Page 76
... growth continues we are going from bad to worse in a financial situation . Our needs now , by this same reasoning - and I will skip through it unless you have some questions - our needs are $ 31 million , and we have a capital gap of ...
... growth continues we are going from bad to worse in a financial situation . Our needs now , by this same reasoning - and I will skip through it unless you have some questions - our needs are $ 31 million , and we have a capital gap of ...
Page 77
... growth record is great , but let us stop and add up the score and see how much farther we should carry this thing . " Now , in 1953 I would ask how much further can we stretch this capital gap and still stay in business ? The growth has ...
... growth record is great , but let us stop and add up the score and see how much farther we should carry this thing . " Now , in 1953 I would ask how much further can we stretch this capital gap and still stay in business ? The growth has ...
Common terms and phrases
additional administration amendment amount average balance the budget base period believe BOGGS borrow BYRNES capital cash budget CHAIRMAN committee Congress continue Corp corporate tax CURTIS of Missouri CURTIS of Nebraska debt December 31 defense deficit dividends dollars EBERHARTER economy effect equipment excess excess-profits tax excess-profits-tax law excise taxes expansion expenditures expire extension fact Federal figures finance fiscal FOLSOM gentlemen going Government growth hear HUGHES income taxes increase industry inequitable inequities investment JENKINS June 30 manufacturers MASON MAYTAG MCCABE ment million MILLS months net income normal operations paid percent plant position present president production profits tax question recommendation reduction relief provisions result retained earnings revenue Secretary HUMPHREY SIMPSON small business statement Sylvania Sylvania Electric Products talking tax law tax rate taxable taxation taxpayer television Thank thing THOMSON tion Treasury World War II
Popular passages
Page 282 - No part of the money appropriated by any enactment of Congress shall. in the absence of express authorization by Congress, be used directly or indirectly to pay for any personal service, advertisement, telegram, telephone, letter, printed or written matter, or other device. intended or designed to influence in any manner a Member of Congress, to favor or oppose, by vote or otherwise, any legislation or appropriation by Congress, whether before or after the introduction of any bill or resolution proposing...
Page 161 - Whoever, being an officer or employee of the United States or of any department or agency thereof...
Page 637 - President in the budget of the United States Government for the fiscal year ending June 30, 1969. The bill would authorize appropriations to be made to the National Aeronautics and Space Administration in the sum of $4,370,400,000, as follows: (1) for "Research and development...
Page vii - Mr. Chairman, it is a great pleasure for me to be here and to have the privilege of appearing before you in the presence of Dr.
Page 748 - ... an increase in the gross income of the taxpayer in its base period or a decrease in the amount of some other deduction in its base period, and is not a consequence of a change at any time in the type, manner of operation, size, or condition of the business engaged in by the taxpayer.
Page 326 - Upon such filing, such court shall have exclusive jurisdiction, by order, to determine the amount, if any, of such excessive profits received or accrued by the contractor or subcontractor, and such determination shall not be reviewed or redetermined by any court or agency except as provided in section 108A.
Page 161 - States or of its departments or agencies from communicating to Members of Congress on the request of any Member or to Congress, through the proper official channels, requests for legislation or appropriations which they deem necessary for the efficient conduct of the public business.
Page 273 - Atkins, will you give your name and the capacity in which you appear? Mr.
Page 325 - Within ninety days after such notice is mailed (not counting Saturday, Sunday, or a legal holiday in the District of Columbia as the ninetieth day...
Page 324 - The benefits of this section shall not be allowed unless the taxpayer within the period of time prescribed by section 322 and subject to the limitation as to amount of credit or refund prescribed in such section makes application therefor in accordance with regulations prescribed by the Commissioner with the approval of the Secretary.