Amending Constitution Relative to Taxes on Incomes, Inheritances, and Gifts: Hearing Before Subcommittee No. 3 of the Committee on the Judiciary, Eighty-fifth Congress, Second Session on H.J. Res. 68, H.J. Res. 141, H.J. Res. 171, H.J. Res. 256, and H.J. Res. 259, to Amend the Constitution Relative to Taxes on Income, Inheritances, and Gifts. August 6, 1958U.S. Government Printing Office, 1958 - 64 páginas |
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Palavras e frases frequentes
16th amendment 25 percent ability to pay article shall affect billion brackets Bruce Alger Chairman collect any tax committee CONG CONGRES HE LIBRARY CONGRESS LIBRARY CONGRESS THE LIBRARY CRAMER Dan Casey date to collect debt devolution or transfer dollars earnings economic effect at midnight EMANUEL CELLER enterprise estate tax excess excise expansion Federal Government Federal tax financing gift taxes H. J. Res incentive income-tax rates increased individual income tax industry inheritance tax Internal Revenue Service investment Karl Marx laid in accordance lay or collect legislatures levied LIBONATI LIBRARY OF CONGRES LIBRARY OF CONGRESS maximum rate maximum top rate ment Metz Opponents present tax production Professor Casey profits progressive proposals argue rate a term rate limitation regressive taxes result sales tax savings Senate spending surtax take effect tax limitation tax reduction tax structure tax system taxable income taxation taxes on incomes tion Treasury Tuck United
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Página 50 - You cannot bring about prosperity by discouraging thrift. You cannot strengthen the weak by weakening the strong. You cannot help the wage earner by pulling down the wage payer.
Página 50 - You cannot keep out of trouble by spending more than you earn. You cannot build character and courage by taking away man's initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.
Página 4 - SECTION 1. The sixteenth article of amendment to the Constitution of the United States is hereby repealed. "SEC. 2. The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration. The maximum top rate (a term which shall mean the aggregate of all top rates) of all taxes, duties, and excises which the Congress may lay or collect...
Página 3 - Section 3 shall take effect at midnight on the last day of the sixth month following the ratification of this article. Nothing contained in this article shall affect the power of the United States to" collect any tax on any devolution or transfer occurring prior to the taking effect of section 3, laid in accordance with the terms of any law then in effect.
Página 2 - Sec. 3. The maximum rate of any tax, duty, or excise which congress may lay and collect with respect to the devolution or transfer of property, or any interest therein, upon or in contemplation of or intended to take effect in possession or enjoyment at or after death, or by way of gift, shall in no case exceed 25 per centum.
Página 28 - THE TAX SYSTEM In determining what taxes should be first reduced, it is important to bear in mind the distinction between a reduction of taxes which reforms the tax system and a reduction in taxes which simply reduces revenue. It has been the experience of the Treasury that every time there has been a material reduction in surtaxes it has stimulated business and brought about an increase in taxable income which has made up all of the loss in revenue from the higher incomes.
Página 2 - The maximum top rate (a term1 which shall mean the aggregate of all top rates) of all taxes, duties, and excises which the Congress may lay or collect on, with respect to, or measured by, income shall not exceed 25 per centum : Provided, however, That the Congress by a vote of three-fourths of all the Members of each House may fix such a maximum top rate in excess of 25 per centum, for periods, either successive or otherwise, not exceeding one year each, if such rate so fixed does not exceed the...
Página 4 - ... taxes, duties, and excises which the Congress may lay or collect on. with respect to, or measured by, income shall not exceed 25 per centum: Provided, however, That Congress by a vote of threefourths of all the Members of each House may fix a rate in excess of 25 per centum, but not in excess of 40 per centum, for periods, either successive or otherwise, not exceeding one year each. In the event that the United States shall be engaged in a war which creates a national emergency so grave as to...
Página 2 - SEC. 4. Sections 1 and 2 shall take effect at midnight on the 31st day of December following the ratification of this article. Nothing contained in this article shall affect the power of the United States after said date to collect any tax on, with respect to, or measured by, income for any period ending on or prior to said 31st day of December laid in accordance with the terms of any law then in effect.
Página 2 - Section 4. Sections 1 and 2 shall take effect at midnight on the 31st day of December following the ratification of this article. Nothing contained in this article shall affect the power of the United States after said date to collect any tax on, with respect to, or...