Revenue Revision, 1932, Hearings ... Seventy-second Congress, 1st Session: January 13-27, February 2-4, 19321932 - 1237 pages |
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Page 20
... board of which you were such a distinguished member ? Mr. CRISP . Well , Mr. Mills , of course , is absolutely accurate . When those settlements are paid you get back every dollar of prin- cipal , during those 63 years , plus about ten ...
... board of which you were such a distinguished member ? Mr. CRISP . Well , Mr. Mills , of course , is absolutely accurate . When those settlements are paid you get back every dollar of prin- cipal , during those 63 years , plus about ten ...
Page 28
... board " there , as to what we would lose . Mr. CANFIELD . Mr. Mills , is it possible for the Treasury Depart- ment to get the figures to show what the tax would be if collected on 35 cents on up , and on 50 cents and 28 REVENUE REVISION ...
... board " there , as to what we would lose . Mr. CANFIELD . Mr. Mills , is it possible for the Treasury Depart- ment to get the figures to show what the tax would be if collected on 35 cents on up , and on 50 cents and 28 REVENUE REVISION ...
Page 32
... Board entered into an agreement with the tobacco growers of western Tennessee and western Kentucky in regard to their particular kind of tobacco , attempting to save them from utter ruin in the way of loans ? Mr. MILLS . No ; I am not ...
... Board entered into an agreement with the tobacco growers of western Tennessee and western Kentucky in regard to their particular kind of tobacco , attempting to save them from utter ruin in the way of loans ? Mr. MILLS . No ; I am not ...
Page 49
... Board ? Mr. MILLS . Yes . Mr. VINSON . I feel certain that the gentleman recognizes him as the eminent and the foremost authority in the realm of agricul- ture , and particularly tobacco , in which industry he spent so many years ? Mr ...
... Board ? Mr. MILLS . Yes . Mr. VINSON . I feel certain that the gentleman recognizes him as the eminent and the foremost authority in the realm of agricul- ture , and particularly tobacco , in which industry he spent so many years ? Mr ...
Page 72
... board can see no good reason why this policy should not be followed by the Government when business has been compelled to recognize the necessity of following that rule . 3. We are opposed to any increase in taxes that will be made ...
... board can see no good reason why this policy should not be followed by the Government when business has been compelled to recognize the necessity of following that rule . 3. We are opposed to any increase in taxes that will be made ...
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Common terms and phrases
50 cents additional admission Alien Property Custodian amendment American amount Association automobile average bank believe BENNET bill Budget burden capital cent tax CHAIRMAN checks CHINDBLOM cigarettes City collected collector committee companies Congress corporation cost course CRISP decrease deficit depletion dollars DOUGHTON EMERY employees estate tax estimate excise tax exemptions fact farmers Federal Government figures filed fiscal gasoline gentlemen gift tax going HAWLEY imposed income tax income-tax increase industry inheritance taxes Internal Revenue legislation levied LEWIS loss manufacturers matter mean ment MILLS National net income operating paid period present produce profit proposed question RAGON RAINEY real estate reduced refund Representative retail revenue act sales tax selling stamp tax statement suggestion surtax taxable taxation taxpayer tickets tion to-day tobacco TREADWAY Treasury Department United VINSON York York Stock Exchange
Popular passages
Page 339 - February 28, 1913, the basis for depletion shall be the fair market value of the property at the date of discovery or within thirty days thereafter, if such mines were not acquired as the result of purchase of a proven tract or lease, and if the fair market value of the property is materially disproportionate to the cost.
Page 339 - ... gross income from the property during the taxable year, excluding from such gross income an amount equal to any rents or royalties paid or incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the net income of the taxpayer (computed without allowance for depletion) from the property...
Page 163 - Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire.
Page 373 - Except as otherwise provided by law in the case of income, war-profits, excess-profits, estate, and gift taxes the Commissioner of Internal Revenue, subject to regulations prescribed by the Secretary of the Treasury, is authorized to remit, refund, and pay back all taxes erroneously or illegally assessed or collected, all penalties collected without authority, and all taxes that appear to be unjustly assessed or excessive in amount, or in any manner wrongfully collected...
Page 367 - Where upon application by the corporation the commissioner finds and so declares of record that the tax if determined without benefit of this section would, owing to abnormal conditions affecting the capital or income of the corporation, work upon the corporation an exceptional hardship evidenced by gross disproportion between the tax computed without benefit of this section and the tax computed by reference to the representative corporations specified in section 328.
Page 303 - The present assault upon capital Is but the beginning. It will be but the stepping -stone to others, larger and more sweeping, till our political contests will become a war of the poor against the rich, a war constantly growing In Intensity and bitterness.
Page 206 - ... should be made to feel that the community, in the form of the State, cannot thus be deprived of its proper share. By taxing estates heavily at death the State marks its condemnation of the selfish millionaire's unworthy life.
Page 387 - ... (b) Except as provided in subdivisions (c), (d), (e), and (g) of this section — (1) No such credit or refund shall be allowed or made after three years from the time the tax was paid...
Page 339 - The basis upon which depletion, exhaustion, wear and tear, and obsolescence are to be allowed in respect of any property shall be the same as is provided in subdivision (a) or (b) for the purpose of determining the gain or loss upon the sale or other disposition of such property...
Page 206 - The growing disposition to tax more and more heavily large estates left at death is a cheering indication of the growth of a salutary change in public opinion.