Word: exempting
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...Mellon's argument: The Treasury will have a surplus this year. Income surtaxes should be scaled down from the present maximum of 50% to a maximum of 25%. This would not result in a corresponding reduction of Government income because capital would leave tax-exempt channels and be placed in taxable investments; e. g., if a man's tax rate, now 50%, were changed to 25%, a 6% industrial security would yield 4.5% as opposed to, say, 4% for tax-free securities, and he would invest in the former...
...additional inheritance tax on tax-exempt securities and a denial of deductions in income from such securities...
...conference introduced a motion asking for an international agreement to exempt police from passport formalities...
...with considerable justification to increased Government revenue this year which has followed the reduction of maximum surtaxes from 65% to 50% and the abolition of the excess profits tax. The reason for this, he believes, is less tax evasion either by falsification of returns or by investment in tax-exempt securities, non-productive forms of investment. He is inclined to think that the maximum surtax should be not more than...
...meetings of the Chamber of Commerce. They included the cessation by this country of a negative attitude of aloofness toward foreign nations, the private ownership and operation of our railroads, the granting of a subsidy on our merchant marine, readjustment downwards of the income surtaxes, prohibition of future tax-exempt Federal security issues, approval of restrictive immigration, opposition to the soldiers' bonus, advocacy of the " flexible tariff," unqualified endorsement of the Federal Reserve system and opposition to unwise changes in the Federal Reserve...