Report Outline
Bonus Payments, Government Credit, and New Taxes
American and British Income Tax Rates and Burdens
Death Taxes in the United States and Great Britain
Proposals for Heavier Taxation in the United States
Special Focus
Bonus Payments, Government Credit, and New Taxes
By Deciding to take the unprecedented step of going in person to the Capitol to return the bill for cash payment of the bonus and inform Congress of his reasons for vetoing it, President Roosevelt indicated the serious view which he held of making this huge extra-budgetary expenditure by inflationary methods. If the veto should be sustained, and if Congress should then pass a bill for bonus payment without the greenback feature of the Patman measure, it is still believed that the President would refuse to grant his approval unless provision were made for levying of additional taxes. The administration's concern about this matter was plainly disclosed on April 23, 1935, when Secretary of the Treasury Morgenthau warned the Senate Finance Committee that, in his opinion, “the credit of the United States government depends very largely … upon scrupulous adherence to the President's [budget] program.”
I don't think we can continue to enjoy the present favorable rates and favorable market for the sale of government securities [he said] if new expenditures are incurred which go far beyond the limits of those which have already been outlined. The Treasury, therefore, would view with great concern the enactment of any bill which calls for large additional expenditures, without, compensating additional taxes. It seems to us of the utmost importance that if any adjusted service certificate settlement calling: for increased expenditures, or for earlier expenditures than those already taken into account, should be enacted, Congress should make provision for raising revenues sufficient to cover the additional expenditures in the year or years in which they are to be incurred.
The attitude that the administration would take on this point had been foreshadowed as long ago as last February, when the President, after signing a deficiency bill providing restoration of full pay for government workers on April 1 instead of July 1, 1935, declared that Congress should forthwith give consideration to increasing the government's income to take care of “this and any other new appropriations which tend to throw the regular budget out of balance.” |
|
|
 |
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 |
| | |
|