Tax Relief for 1929: Hearings... on H.J. Res. 133...1929 - 22 pages |
Common terms and phrases
12 months absolutely sound administration amount approximately assume assumption BACHARACH balance bill Budget calendar year 1929 capital gains CHAIRMAN CHINDBLOM COLLIER committee corporation tax correct customs receipts deficit dividends earned income estimated receipts expendi Federal Farm Board figures fiscal year 1930 flexible factor foreign governments foreign repayments GARNER given fiscal going HULL income tax Internal revenue joint resolution June 15 June 30 law Total tax loans MARSH million MILLS nary receipts normal rate normal tax rate ordinary receipts outstanding July paid in taxes Panama Canal posal President's message public debt question RAINEY RAMSEYER rate applicable rates of income receipts and expenditures recollection reduced rates Reduction in tax relatively larger benefits repayments by foreign Section stockholders surplus surtaxes tax reduction tax relief taxable income taxation tions title 26 to-day total net income Treasury Department Treasury estimates U. S. C. Sup unusual increase
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Page 15 - July 1, 1920, and (2) the interest which would have been payable during the fiscal year for which the appropriation is made on the bonds and notes purchased, redeemed, or paid out of the sinking fund during such year or in previous years.
Page 22 - The CHAIRMAN. The committee will now go into executive session. (Whereupon the committee went into executive session...
Page 1 - III, title 26, chapter 24) as are set forth in the following table, which under such Act are applicable to the calendar year 1929, the rates applicable to such year shall be those set forth in such table: Sec.
Page 1 - The committee met at 10.30 o'clock am, Hon. Willis C. Hawley (chairman) presiding. The CHAIRMAN. The committee will be in order. This...
Page 4 - ... be all the income received, and the comparison does not include income in part consisting of dividends or capital gains or interest upon governmental bonds. The comparison covers the total tax, normal and surtax. The normal tax rates suggested are one-half of 1 per cent on the first $4,000 taxable, 2 per cent on the next $4,000, and 4 per cent on the remainder of the taxable net income. (From NY Times, December...
Page 15 - ... per cent of the aggregate amount of such bonds and notes outstanding on July 1, 1920, less an amount equal to the par amount of any obligations of foreign governments held by the United States on July 1, 1920, and (2) the interest which would have been payable during the fiscal year for which the appropriation is made on the bonds and notes purchased, redeemed, or paid...
Page 4 - Comparison of the total tax payable under the present law and under the rates suggested for 1929, upon a single person and upon a married person without dependents. It is assumed that all income not in excess of $10,000 is earned income, and in addition that one-fourth of the income in excess of $10,000, until the limit of $30,000 earned income is reached, is also earned. The total net income is assumed to be all the income received, and the comparison does not include income in part consisting of...
Page 1 - SEC. 2. This joint resolution shall take effect as of January 1, 1929. Approved, December 16, 1929.
Page 2 - ... on a variety of circumstances but principally on the upward and downward fluctuations of business.