Word: ruml
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...Rest, Ruml & Revolt. What would the 78th Congress, First Session, have to answer...
...After five months of wrangling, the House passed a compromise pay-as-you-go tax-collection bill, 256-10-114. Next day the Senate followed suit, 62-to-19. Not quite the Ruml Plan, it was the nearest thing to it which could get past the White House...
Coming after one of the longest and bitterest tax fights in U.S. history, it was, like the Battle for Africa, a famous victory-particularly for an outsider like Beardsley Ruml, who has no standing in politics...
However much electioneering capital may be made of the fact that the Ruml plan "forgives" the rich (as well as the poor) a year's income taxes, the fact remains that taxes on all incomes over $25,000 a year comprise only a fraction of the estimated $9,275,000,000 to be forgiven. And because the war has increased most U.S. incomes, the Senate bill will net the Treasury this year an estimated $2,000,000,000 more revenue than it would receive under the old system of collecting this year's taxes on last year...
...Senate debate produced five alternatives to the Finance Committee-endorsed Ruml bill, all designed to soften the blow of new taxes or increased tax rates on the mass of voters, by some measure of doubling up on 1942 and 1943 tax payments. They were sponsored respectively by Senators from Louisiana, Georgia, Alabama and two from Texas. (Average per capita income in these four states in 1940 was respectively $395, $315, $257, and $411, against a national average...