Tax Exempt Securities

Economists at the Treasury Department and elsewhere in Washington are endeavoring to determine the highest point at which income taxes and surtaxes can be maintained without driving capital out of industry into tax exempt securities.

Statistics published by the Bureau of Internal Revenue indicate that the higher surtaxes are rapidly ceasing to be productive of revenue.

Year	Number of returns			Net Income
	All classes	Incomes over $300,000	All classes	Incomes over $300,000
1916	$437,063	$1,296	$6,298,577,620	$992,972,986
1917	3,472,890	1,015	13,652,383,207	731,372,153
1918	4,425,114	627	15,924,639,355	401,107,868
1919	5,332,760	679	19,859,491,448		ISSUE TRACKER for Related Reports Taxation 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 BROWSE RELATED TOPICS: Economic Analyses, Forecasts, and Statistics Tax Exemption