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Page 32 - ... (a) For each year ending June 30, beginning with the year ending June 30, 1936, there is hereby imposed upon every domestic corporation with respect to carrying on or doing business for any part of such year an excise tax of $1 for each $1,000 of the adjusted declared value of its capital stock.
Page 72 - I am told that he is not and that he is simply a member of the advisory committee. It is very hard for us to know just what is what. I do not know just how much importance to attach to statements in these long lists that are given. As I have said, I do not mean to criticize anybody. I am simply trying to point out that it is very hard for us to know to what we should give credence or withhold it. Mr. WOOD. Mr. Katz appeared before you as secretary of the Washington Industrial Union Council of the...
Page 30 - ... together. A conventional type income tax plus a retail sales tax would work an undue hardship on low-salaried individuals. Such is not the case under the proposed plan. 5. Recent Bureau of Labor Statistics' figures show that three-quarters of the total family expenditures in the lowest income groups goes for food and housing combined. On the basis of these figures, it has been estimated that a $1,000 income would pay less than $5 in retail sales taxes, spread over an entire year. People with...
Page 26 - ... Federal city then the only certain way of reaching the Federal Government is by the indirect method of retail sales taxation. The present plan is an attempt to weld the two forms of taxation together so as to compose a graduated income tax on all income. The Evening Star pointed out on January 17 that recent Bureau of Labor statistics figures show that three-quarters of the total family expenditures in the lowest income groups goes for food and housing combined. On the basis of these figures...
Page 59 - Committee for Fair Taxation. I should like to say that I do not hold myself to be a tax expert. We should like to state at the outset, Mr. Chairman, that we have no intention of rehashing in detail all the arguments that have been offered against the sales tax by this citizens' committee during the past three sessions of Congress. Aside from the fact that this subcommittee is familiar with most of the arguments for and against it, the sales tax is wholly unnecessary from the standpoint of revenue...
Page 20 - Columbia as to the fact and the law in those cases in which there is no absolute right of appeal, and the solution of the matter is left to the discretion and judgment of the Commissioners.
Page 74 - ... least approximately, before it can be determined how much revenue must be raised through taxing the District residents and their property. Therefore, the Federation of Citizens' Associations believes that, before any special types of additional taxes are considered, consideration should be given to the amount of the Federal payment toward the expenses of the District. In the opinion of the Federation, the present payment of $5,000,000 a year does not truly represent the real obligation of the...
Page 54 - Committee for Fair Taxation is composed of representatives of civic, labor, and consumer organizations as well as individual members who have organized to fight any further adoption of regressive taxes in the District of Columbia. The committee recognizes, however, the need for additional revenues to carry on essential social services in the District and is not against expanding those services. The following cardinal principles with respect to any new taxes to be levied in the District of Columbia...
Page 29 - ... time. The increase in governmental costs is not in direct proportion to the increase in population. I have learned that the maintenance and operating costs of the Government have increased at the rate of 4 percent a year over the past 18 years. In dollars this increase has been from $17,378,359 in 1920 to $40,064,883 in 1938, an increase for the 18-year period of $22,686,524, or more than doubled. There is also increased expenditure for capital outlay with a constantly increasing population....
Page 30 - ... An income tax on all salaries except Federal salaries would be grossly unfair. Instead, a sales tax will reach all according to their expenditures without discrimination as to the sources of their income. The transient, the lobbyist, the rootless resident, and the seasonal sojourner, all these will contribute something toward maintaining the costly, ornamental features of the District, for which they are in part responsible. 15. There are a few incomes of Federal employees in the District which...

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