Word: reductionism
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With the approach of the end of the fiscal year, the Treasury, on its New Year's Eve, had cause for rejoicing. It was apparent that the final casting up of accounts would show a surplus of about $400,000,000 or perhaps something better. The 25% reduction in...
As a result of the surplus during the year, besides the reserve for debt retirement, the public debt will be reduced over $1,000,000,000. This reduction will save the Government more than $40,000,000 annually in interest charges alone.
To add to these savings the June 15 offering of Treasury certificates was disposed of-in fact, oversubscribed more than three times-although the interest offered was reduced from over 4% to 2¾%. This reduction in interest on the $200,000,000 of certificates sold will make another small...
The only income tax payer in the U. S. who did not benefit by the 25% reduction in taxes is Calvin Coolidge. According to Constitutional provision the President's salary may not be increased or decreased while in office. The courts have ruled that a change in the tax...
The only income tax payer who did not benefit by the 25% reduction. (P. 5.)