Word: excessiveness
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Dates: during 1950-1950
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...professor, ominous little bag in hand, scurries for hiding through dark, deserted streets in which floodlights roam eerily over huge posters bearing his picture. Piccadilly Circus becomes the desolate crossroads of a ghost city; Waterloo Station is an empty tomb except for confiscated pets and such prohibited excess baggage as trunks, tennis rackets and a sandwich man's sign ("The Wages of Sin Is Death"). On doomsday morning, from the city's rim, four army divisions move in for a house-to-house search...
...Passed the $3.4 billion excess-profits tax bill through the House (378 to 20), and studied it in the Senate...
Although NAMsters were against the Administration's excess-profits tax, they were ready to go along with a boost in corporate and other taxes. Some of them, notably Lewis H. Brown, Johns-Manville board chairman, talked as tough about taxes as anyone in Washington. He asked for a $25 billion hike to help combat inflation and balance the budget...
After three weeks of public and private wrangling, the House Ways & Means Committee this week sent its excess-profits tax bill to the floor. The bill was not quite what the Administration wanted. It would raise somewhere between $3 billion and $3.4 billion at current tax receipts, as against the $4 billion asked by Treasury Secretary John Snyder. It called for a levy of 75% on all earnings above 85% of a company's average profits during its three best years between 1946 and 1949. The tax would be retroactive to July 1, 1950. No more than...
Though Republicans still called the measure "a pig in a poke" and "as imperfect as a bill can possibly be," the turn of events in Korea had improved its chances of passing. The House was almost sure to approve. Even the Senate, which has been dead set against an excess-profits tax in this session, might put a tax of some sort through by Christmas...