Word: exemptible
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...Townsend slate of delegates to the Democratic convention with Representative McGroarty as their Presidential favorite (TIME, April 6). Asserting forthwith that Dr. Townsend had deserted his plan to finance $200-per-month pensions by a transactions tax and now proposed to issue billions of dollars worth of tax-exempt bonds, the angry Poet Laureate called on "millions of Townsendites" to repudiate their original leader...
...Individuals would pay the full normal tax on dividends which are now exempt...
...inter-corporate dividends would be fully taxed as corporate income instead of 90%, exempt as at present...
...from the 4% normal tax to be paid by individual stockholders on dividends currently exempt from the normal...
...Victor Weybright wrote in the February Survey Graphic: "That 200,000 newcomers to the Federal service have been exempt from civil service in the past three years has alarmed critics of bureaucracy...