Federal Tax Policy for Economic Growth and Stability: Papers Submitted by Panelists Appearing Before the Subcommittee on Tax Policy, Joint Committee on the Economic Report. November 9, 1955, Band 1

U.S. Government Printing Office, 1955 - 930 Seiten


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Seite 33 - I confess I am not charmed with the ideal of life held out by those who think that the normal state of human beings is that of struggling to get on; that the trampling, crushing, elbowing, and treading on each other's heels, which form the existing type of social life, are the most desirable lot of human kind, or anything but the disagreeable symptoms of one of the phases of industrial progress.
Seite 825 - The desire to provide security for one's self and one's family is natural and wholesome, but it is adequately served by a reasonable inheritance. Great accumulations of wealth cannot be justified on the basis of personal and family security. In the last analysis such accumulations...
Seite 415 - That in the case of mines, oil and gas wells, discovered by the taxpayer, on or after March 1, 1913, and not acquired as the result of purchase of a proven tract or lease...
Seite 825 - ... Great accumulations of wealth cannot be justified on the basis of personal and family security. In the last analysis such accumulations amount to the perpetuation of great and undesirable concentration of control in a relatively few individuals over the employment and welfare of many, many others. Such inherited economic power is as inconsistent with the ideals of this generation as inherited political power was inconsistent with the ideals of the generation which established our Government.
Seite 302 - Pressure Groups and the Revenue Code: A Requiem in Honor of the Departing Uniformity of the Tax Laws,
Seite 486 - This option applies to all expenditures made by an operator for wages, fuel, repairs, hauling, supplies, etc., incident to and necessary for the drilling of wells and the preparation of wells for the production of oil or gas.
Seite 472 - The granting of an arbitrary deduction, in the interests of convenience, of a percentage of the gross income derived from the severance of oil and gas, merely emphasizes the underlying theory of the allowance as a tax-free return of the capital consumed in the production of gross income through severance.
Seite 845 - October 21, 1942, is exercised by creating another power of appointment which, under the applicable local law, can be validly exercised so as to postpone the vesting of any estate or interest in the...
Seite 32 - It deserves to be remarked, perhaps, that it is in the progressive state, while the society is advancing to the further acquisition, rather than when it has acquired its full complement of riches, that the condition of the labouring poor, of the great body of the people, seems to be the happiest and the most comfortable. It is hard in the stationary, and miserable in the declining state. The progressive state is in reality the cheerful and the hearty state to all the different orders of the society....
Seite 132 - As a consequence, it has caused this group of investors to shift funds out of relatively conservative investments, offering little or no opportunity for capital appreciation and into more venturesome types of investments such as relatively speculative marketable common stocks, closely held companies, new ventures, real estate and oil...

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