Word: netted
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...University net men will have a distinct edge in its match with Brown this afternoon on the Divinity Courts at 4 o'clock. The match will consist of four singles and two doubles matches...
...ways of escape from the surtaxes, which are many and well known, all lead to the same end, the reduction of taxable net income. Among them may be mentioned the use of corporation and be mentioned the use of corporations and trusts to avoid payment of surtaxes directly, or by dividing income; the division of property among members of the taxpayer's family by gifts inter vivos; the taking of losses on capital investments in such fashion and at such times as to accomplish a maximum reduction of taxable income; the exploitation of certain features of the law such...
Certain of these practices can be corrected by legislation. Evasion by exchange of securities has already been prevented for the future by amendment of Section 202 of the Revenue Act of 1921 at the last session of Congress. Legislation preventing undue reduction of net income by deduction of losses is equally possible and even more desirable as it is estimated that there is a heavy loss of tax revenue from this cause. But in this matter, as in other matters, legislation is no panacea. Ways of escape will persist, in spite of legislation, and will be availed of, as long...
...municipal securities are now being issued at the rate of one billion dollars a year. Here is a ready refuge from surtaxes. A taxpayer in the highest surtax class can now invest in a tax-exempt state or municipal bond paying 5 per cent interest and obtain the same net return as from a surtaxable stock paying dividends of 10 per cent. The average commercial bond, which is subject to normal tax as well as surtax, must pay slightly more, about 10.40 per cent to yield the same, after payment of taxes, as a 5 per cent state or municipal...
...Awaiting their retirement will postpone the date of complete solution. Only reduction by Act of Congress of the surtax rates to a level at which the inducement to invest in tax-exempt securities becomes negligible will destroy immediately and completely the tax-exempt evil, and reduction is logically the net step in the lightening of the tax burden imposed upon the country...