Federal Tax Reduction-1930

November 9, 1929

Report Outline
Taxes on Corporation and Personal Incomes
Repeal and Reduction of Miscellaneous Taxes
Special Focus

The revenues of the federal government from all sources during the first quarter of the fiscal year 1930 showed an increase of $128,959,835 over the revenues of the corresponding three months of the fiscal year of 1929. As a partial offset to this increase in revenues, there was an increase of $33,416,627 In the general expenditures of the government. Outlays for public debt retirement, interest, and various special purposes were smaller this year than during the first quarter of the last fiscal year, but leaving these out of account, the difference between the increase in the government's expenditures and the increase in its revenues was $95,543,208.

The government's operations during the full twelve months of the last fiscal year resulted in a surplus at the end of the year of $184,787,035. This was the smallest surplus of any year since 1921. However, on the next to the last day of the year there was paid to the railroads by the Treasury the $52,000,000 awarded by the Interstate” Commerce Commission in February, 1929, as back pay for transportation of the mails between 1925 and 1928. This item was not incurred during the fiscal year in which it was paid. If paid during the years in which the service was rendered, it would have reduced the surpluses for those fiscal years, and the surplus for the fiscal year 1929 would have been more than $235,000,000.

Federal Surplus for Fiscal Year 1930

If during the fiscal year 1930 there was no increase in the government's income and no increase in its operating expenditures, the Treasury, presumably, would end the year with a surplus approximating a quarter of a billion dollars. The actual results of the first three months' operations, with the increase in revenues far outstripping the increase in expenditures, indicated, however, that the surplus for the year would be far in excess of that amount. On the basis of these three months it was possible to calculate a surplus for the full fiscal year that would approach the $635,809,922 surplus of the fiscal year 1927.

ISSUE TRACKER for Related Reports
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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
Federal Taxes