Word: exempted
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Dates: during 1920-1929
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...judgment of the financial centre on the whole episode was in the main that the returns published had borne out what it had claimed right along were gross discriminations and irregularities in the income-tax law itself. The individuals shrewd enough to have put their fortune into tax-exempt securities, or to have diverted their income into increased corporate surpluses or appreciated land values, escaped lightly. The blunderers who accepted large cash profits directly paid through the nose. The result was what everyone (except perhaps the farm bloc) had predicted. Meanwhile, publication of the returns created so much uproar...
...result that dogma and creed have ceased to express adequately for the new generation what they were fully capable of expressing for the old. Dr. Fosdick takes the historical, point of view which sees all human thought and institutions in continual metamorphosis, and religion, and ethics itself, not exempt from this supreme...
Only Dropped Freshmen Exempt...
...result of the high surtaxes on incomes has been the demand for tax-exempt municipal bonds. That politicians have ably satisfied this want is shown by the constantly growing debt of our cities...
...Democratic platform are: Immediate entry in to the World Court, tariff for revenue only, reduction of armaments but maintenance of national defenses, maintenance of the capitulation's in Turkey, strict enforcement of the constitution. Increased aid for disabled veterans but not for healthy ones, and the abolition of tax-exempt-securities...