Report Outline
Corporation and Personal Income Taxes
Amount of 1928 Tax Reduction
Since 1920 the annual expenditures of the federal Government have been reduced by $2,988,505,672. Federal taxes have been reduced in the same period by $2,535,617,232. The reduction in expenditures has amounted to 46.1 per cent and in taxes to 46.9 per cent. Customs revenues meanwhile have increased by $282,597.333 or 87.5 per cent. Counting customs receipts as indirect taxes, the total tax burden, direct and indirect, has been cut by $2,253,019,899 or 41.6 per cent, since 1920.
Fiscal year |
Government expenditures |
Internal tax revenues |
Customs revenues |
1920 |
$6,482,090,191 |
$5,405,031,573 |
$322,902,650 |
1921 |
5,538,209,189 |
4,596,425,980 |
308,564,391 |
1922 |
3,795,302,499 |
3,213,253,256 |
356,443,387 |
1923 |
3,697,478,020 |
2,624,472,760 |
561,928,866 |
1924 |
3,506,677,715 |
2,795,157,035 |
545,637,503 |
1925 |
3,529,543,446 |
2,589,175,890 |
547,561,226 |
1926 |
3,584,987,873 |
2,837,639,377 |
579,430,092 |
1927 |
3,493,584,519 |
2,869,414,341 |
605,499,983 |
In 1920 and in each succeeding fiscal year the financial operations of the Government have shown a surplus of receipts over expenditures—permitting the enactment of a general tax reduction bill by each of the last three Congresses. The surplus for the last fiscal year, which ended June 30, 1927, was the largest on record, totaling $635,809,921. The President and the leaders of both parties in the House and Senate are agreed, therefore, that the enactment of a new tax reduction bill shall be among the first tasks undertaken when the Seventieth Congress meets.
Tax Cuts Proposed for 1928
The House Ways and Means Committee has been summoned to meet October 31 to begin the preparation of a new tax reduction bill. Chairman Green assumes that Congress will not be called to meet in extra session and that one month will afford the Committee sufficient time to complete the bill for introduction when Congress meets in December. Chairman Smoot of the Senate Finance Committee has urged, on the other hand, that a special session be called to permit the final enactment of the bill in advance of March 15, 1928, when the first payments of taxes on incomes received during the present calendar year will come due. |
|
|
 |
Feb. 07, 2020 |
Hidden Money |
 |
Jun. 28, 2013 |
Internet Shopping |
 |
Jan. 16, 1998 |
IRS Reform |
 |
Mar. 22, 1996 |
Tax Reform |
 |
Apr. 06, 1990 |
How Fair Is the Nation's Tax Burden? |
 |
Aug. 28, 1987 |
Taxing Business Services |
 |
Oct. 17, 1986 |
Tax Reform In The States |
 |
Sep. 28, 1984 |
Tax Debate: 1984 Election and Beyond |
 |
Mar. 19, 1982 |
Tax-Exemption Controversy |
 |
May 19, 1978 |
Property Tax Relief |
 |
Apr. 07, 1978 |
Tax Shelters and Reform |
 |
Feb. 10, 1971 |
Property Tax Reform |
 |
Mar. 26, 1969 |
Tax Reform Pressures |
 |
Mar. 24, 1965 |
Excise Tax Cuts and the Economy |
 |
Feb. 15, 1961 |
Flexible Taxation |
 |
Apr. 02, 1959 |
State Tax Problems |
 |
Apr. 23, 1958 |
Tax Reduction, 1958 |
 |
Aug. 14, 1957 |
Fast Tax Write-Offs |
 |
Apr. 10, 1957 |
Federal Payments in Lieu of Taxes |
 |
Sep. 12, 1956 |
Corporation Profits and Taxes in Prosperity |
 |
Mar. 16, 1954 |
Shares in Tax Relief |
 |
Nov. 21, 1953 |
Revision of Excise Taxes |
 |
Mar. 19, 1953 |
Federal-State Tax Relations |
 |
Oct. 01, 1952 |
European Taxes and Tax Evasion |
 |
Nov. 03, 1950 |
Excess Profits Tax |
 |
Feb. 01, 1950 |
Tax Loopholes |
 |
Jun. 04, 1949 |
Excise Taxes |
 |
Oct. 27, 1948 |
Postwar Sales Taxes |
 |
Aug. 29, 1947 |
Taxation of Family Income |
 |
Apr. 09, 1947 |
Income Tax Relief |
 |
Jan. 11, 1946 |
Taxation of Cooperatives |
 |
Oct. 16, 1945 |
Federal Taxes on Business |
 |
May 08, 1944 |
Postwar Taxes |
 |
Sep. 20, 1943 |
Sales Taxes |
 |
Dec. 05, 1941 |
New Taxes for Defense |
 |
Apr. 05, 1941 |
Taxation for National Defense |
 |
Feb. 28, 1941 |
Taxation of Alcoholic Beverages |
 |
Jan. 11, 1941 |
Exemptions from Taxation |
 |
Dec. 04, 1940 |
Federal Taxes and Defense Financing |
 |
Feb. 01, 1940 |
Sharing of Tax Revenues |
 |
Feb. 02, 1939 |
Turnover Taxes in the States |
 |
Nov. 05, 1937 |
Broadening of the Income-Tax Base |
 |
Jun. 17, 1937 |
Exemptions from Income Taxation |
 |
Apr. 05, 1937 |
Coordination of Federal and State Tax Systems |
 |
Dec. 19, 1936 |
Revision of Federal Tax on Capital Gains |
 |
Nov. 02, 1936 |
State Taxation of Natural Resources |
 |
May 26, 1936 |
Assessment of Property for Taxation |
 |
Apr. 17, 1936 |
Federal Taxes on Consumption |
 |
Mar. 19, 1936 |
Taxation of Undistributed Corporate Profits |
 |
Dec. 17, 1935 |
Reduction of Tax Burdens on Real Estate |
 |
Oct. 21, 1935 |
Tax Delinquency in the United States |
 |
May 21, 1935 |
Comparative Tax Burdens in America and Britain |
 |
Feb. 01, 1935 |
Federal Taxation of Corporations |
 |
Nov. 27, 1934 |
Elimination of Conflicts in Taxation |
 |
Jul. 25, 1933 |
Taxation of Excess Profits |
 |
Jan. 25, 1933 |
Tax Burdens and Tax-Free Securities |
 |
Nov. 23, 1932 |
The Beer Tax and the Sales Tax |
 |
Dec. 19, 1931 |
Sales Taxes: Federal, State, and Foreign |
 |
Sep. 18, 1931 |
Death Taxes and the Concentration of Wealth |
 |
Mar. 18, 1931 |
Federal Taxation of Large Incomes |
 |
Jan. 10, 1931 |
Taxation of Capital Gains |
 |
Nov. 09, 1929 |
Federal Tax Reduction-1930 |
 |
Aug. 08, 1927 |
Federal Tax Reduction—1928 |
 |
Sep. 27, 1926 |
Tax Reduction and the Public Debt |
 |
Jan. 16, 1926 |
Taxation of Estates and Inheritances |
 |
Nov. 07, 1925 |
Federal Taxation of Small Incomes |
 |
Nov. 28, 1924 |
Social, Fiscal and Legal Aspects of the Inheritance Tax |
 |
Apr. 07, 1924 |
Causes and Effects of the Tax Return Blockade |
 |
Dec. 12, 1923 |
Tax Exempt Securities |
 |
Dec. 10, 1923 |
Taxation |
| | |
|