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Updated: May 2, 2025
Slightly over half of this amount, or 800 million dollars, will be accessory to the simplified pay-as-you-go method of tax collection, and will be the result of overwithholding and over declaration of expected income. Most of the remainder will arise from loss and excess-profits credit carrybacks, recomputed amortization on war plants, and special relief from the excess profits tax.
Being opposed to war taxes in time of peace, I am not in favor of excess-profits taxes. A very great service could be rendered through immediate enactment of legislation relieving the people of some of the burden of taxation. To reduce war taxes is to give every home a better chance.
Didn't that youngster go out to Dayton the other day and land a contract for the surgical fittings for a big new hospital out there before the local firms even rubbed the sleep out of their eyes? I have it from good authority, Friedlander & Sons doubled their excess-profits tax last year." A white flash of something that was almost fear seemed to strike Mrs. Samstag into a rigid pallor. "No! No!
Slightly over half of this amount, or 800 million dollars, will be accessory to the simplified pay-as-you-go method of tax collection, and will be the result of overwithholding and over declaration of expected income. Most of the remainder will arise from loss and excess-profits credit carrybacks, recomputed amortization on war plants, and special relief from the excess profits tax.
Here and there, in this department of knowledge or that, some one of us might make a fair claim to have taken some trouble to get correct ideas of, let us say, the situation in Russia, the sources of our food supply, the origin of the Constitution, the revision of the tariff, the policy of the Holy Roman Apostolic Church, modern business organization, trade unions, birth control, socialism, the League of Nations, the excess-profits tax, preparedness, advertising in its social bearings; but only a very exceptional person would be entitled to opinions on all of even these few matters.
Being opposed to war taxes in time of peace, I am not in favor of excess-profits taxes. A very great service could be rendered through immediate enactment of legislation relieving the people of some of the burden of taxation. To reduce war taxes is to give every home a better chance.
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