Report Outline
Coming Consideration of New Tax Bill
American Tax Structure in World War
Present and Proposed Taxes for Defense
War Income and Excise Taxes in Britain
Special Focus
Coming Consideration of New Tax Bill
Imposition of heavier taxation to help defray the costs of national defense and of aid to Britain has moved into the foreground of public interest with announcement by Chairman Doughton (D., N. C.) of the House Ways and Means Committee that that body will begin consideration of a new tax bill in mid-April. Armed with data on the yield of existing taxes drawn from the March 15 returns, and with Treasury estimates of the probable yield of rate changes and proposed new levies, the committee will have the task of determining what proportion of defense costs it will recommend be met from current revenues and of proposing taxes designed to achieve that objective without restricting the progress of the defense program or imposing inequitable burdens on any class of taxpayers. The taxes already levied by Great Britain to finance her war effort, and any new British taxes that may be announced in the budget for the fiscal year 1941–42, to be presented to the House of Commons in the near future, will meanwhile provide a comparative measure of the burdens which the American people will be called upon to bear in making this country the “arsenal of democracy.”
Tax Objectives in Financing of Defense Program
Figures given in President Roosevelt's budget message last January indicated that the cost of the national defense program from June, 1940, to June, 1942, would be $28,480,000,000. It is now necessary to add to that total the sum of amounts subsequently requested, which were not included in the budget, as well as the $7,000,000,000 recently appropriated for expenditures under the lease-lend act. A table prepared by the Office of Production Management lists defense appropriations and contract authorizations, voted or requested through March 15, 1941, for the period from June, 1940, to June, 1942, totaling $39,177,800,000. That sum includes the $7,000,000,000 for British aid.
The President noted in his budget message that there was “no agreement on how much of such an extraordinary defense program should be financed on a pay-as-you-go basis and how much by borrowing,” but he said “a start should be made this year to meet a larger percentage of defense payments from current tax receipts.” Secretary of the Treasury Morgenthau told a subcommittee of the Senate Finance Committee, February 12, 1941, that “if the Congress would adopt a program under which we could raise through revenues an amount sufficient to finance two-thirds of all expenditures, and one-third from borrowing, I think it would be a very wholesome method to follow.” |
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Feb. 07, 2020 |
Hidden Money |
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Jun. 28, 2013 |
Internet Shopping |
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Jan. 16, 1998 |
IRS Reform |
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Mar. 22, 1996 |
Tax Reform |
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Apr. 06, 1990 |
How Fair Is the Nation's Tax Burden? |
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Aug. 28, 1987 |
Taxing Business Services |
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Oct. 17, 1986 |
Tax Reform In The States |
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Sep. 28, 1984 |
Tax Debate: 1984 Election and Beyond |
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Mar. 19, 1982 |
Tax-Exemption Controversy |
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May 19, 1978 |
Property Tax Relief |
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Apr. 07, 1978 |
Tax Shelters and Reform |
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Feb. 10, 1971 |
Property Tax Reform |
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Mar. 26, 1969 |
Tax Reform Pressures |
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Mar. 24, 1965 |
Excise Tax Cuts and the Economy |
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Feb. 15, 1961 |
Flexible Taxation |
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Apr. 02, 1959 |
State Tax Problems |
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Apr. 23, 1958 |
Tax Reduction, 1958 |
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Aug. 14, 1957 |
Fast Tax Write-Offs |
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Apr. 10, 1957 |
Federal Payments in Lieu of Taxes |
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Sep. 12, 1956 |
Corporation Profits and Taxes in Prosperity |
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Mar. 16, 1954 |
Shares in Tax Relief |
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Nov. 21, 1953 |
Revision of Excise Taxes |
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Mar. 19, 1953 |
Federal-State Tax Relations |
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Oct. 01, 1952 |
European Taxes and Tax Evasion |
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Nov. 03, 1950 |
Excess Profits Tax |
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Feb. 01, 1950 |
Tax Loopholes |
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Jun. 04, 1949 |
Excise Taxes |
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Oct. 27, 1948 |
Postwar Sales Taxes |
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Aug. 29, 1947 |
Taxation of Family Income |
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Apr. 09, 1947 |
Income Tax Relief |
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Jan. 11, 1946 |
Taxation of Cooperatives |
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Oct. 16, 1945 |
Federal Taxes on Business |
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May 08, 1944 |
Postwar Taxes |
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Sep. 20, 1943 |
Sales Taxes |
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Dec. 05, 1941 |
New Taxes for Defense |
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Apr. 05, 1941 |
Taxation for National Defense |
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Feb. 28, 1941 |
Taxation of Alcoholic Beverages |
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Jan. 11, 1941 |
Exemptions from Taxation |
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Dec. 04, 1940 |
Federal Taxes and Defense Financing |
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Feb. 01, 1940 |
Sharing of Tax Revenues |
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Feb. 02, 1939 |
Turnover Taxes in the States |
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Nov. 05, 1937 |
Broadening of the Income-Tax Base |
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Jun. 17, 1937 |
Exemptions from Income Taxation |
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Apr. 05, 1937 |
Coordination of Federal and State Tax Systems |
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Dec. 19, 1936 |
Revision of Federal Tax on Capital Gains |
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Nov. 02, 1936 |
State Taxation of Natural Resources |
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May 26, 1936 |
Assessment of Property for Taxation |
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Apr. 17, 1936 |
Federal Taxes on Consumption |
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Mar. 19, 1936 |
Taxation of Undistributed Corporate Profits |
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Dec. 17, 1935 |
Reduction of Tax Burdens on Real Estate |
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Oct. 21, 1935 |
Tax Delinquency in the United States |
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May 21, 1935 |
Comparative Tax Burdens in America and Britain |
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Feb. 01, 1935 |
Federal Taxation of Corporations |
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Nov. 27, 1934 |
Elimination of Conflicts in Taxation |
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Jul. 25, 1933 |
Taxation of Excess Profits |
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Jan. 25, 1933 |
Tax Burdens and Tax-Free Securities |
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Nov. 23, 1932 |
The Beer Tax and the Sales Tax |
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Dec. 19, 1931 |
Sales Taxes: Federal, State, and Foreign |
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Sep. 18, 1931 |
Death Taxes and the Concentration of Wealth |
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Mar. 18, 1931 |
Federal Taxation of Large Incomes |
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Jan. 10, 1931 |
Taxation of Capital Gains |
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Nov. 09, 1929 |
Federal Tax Reduction-1930 |
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Aug. 08, 1927 |
Federal Tax Reduction—1928 |
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Sep. 27, 1926 |
Tax Reduction and the Public Debt |
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Jan. 16, 1926 |
Taxation of Estates and Inheritances |
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Nov. 07, 1925 |
Federal Taxation of Small Incomes |
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Nov. 28, 1924 |
Social, Fiscal and Legal Aspects of the Inheritance Tax |
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Apr. 07, 1924 |
Causes and Effects of the Tax Return Blockade |
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Dec. 12, 1923 |
Tax Exempt Securities |
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Dec. 10, 1923 |
Taxation |
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