Income-tax Exemptions: Hearings Before the Subcommittee of the Committee on the Judiciary, United States Senate, Seventy-fifth Congress, First Session, on S. J. Res. 5, a Joint Resolution Proposing an Amendment to the Constitution of the United States to Enable the United States to Lay and Collect Taxes on Income Derived from Securities Issued by Any State, and to Enable Each State to Lay and Collect Taxes on Income Derived by Residents from Securities Issued Under Authority of the United States; and S. J. Res. 154, a Joint Resolution Proposing an Amendment to the Constitution of the United States Relative to Taxes on Certain Securities and the Income Derived Therefrom and on the Compensation of Officers and Employees of the States and Their Political Subdivisions. June 24 and August 3, 1937U.S. Government Printing Office, 1937 - 78 頁 |
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第 1 到 5 筆結果,共 22 筆
第 7 頁
... municipal employee , or comes under other exemp- tion . However , a ... bonds issued by State , county , or other local subdivisions . This act ... bonds . The amount of securities from which the income is wholly exempt as a result of the ...
... municipal employee , or comes under other exemp- tion . However , a ... bonds issued by State , county , or other local subdivisions . This act ... bonds . The amount of securities from which the income is wholly exempt as a result of the ...
第 8 頁
... securities now exempt . Books have been written on the subject , and many excellent articles in law journals and other publications ... bonds , State and municipal , That sell for from 1 to 11⁄2 percent cheaper than 8 INCOME - TAX EXEMPTIONS.
... securities now exempt . Books have been written on the subject , and many excellent articles in law journals and other publications ... bonds , State and municipal , That sell for from 1 to 11⁄2 percent cheaper than 8 INCOME - TAX EXEMPTIONS.
第 12 頁
... municipal indebtedness , with its inevitable taxation of the people to pay ... bonds , the income from which is exempt from Federal income tax . You will ... municipal securities are in circulation free of income tax . It is generally ...
... municipal indebtedness , with its inevitable taxation of the people to pay ... bonds , the income from which is exempt from Federal income tax . You will ... municipal securities are in circulation free of income tax . It is generally ...
第 14 頁
... securities exempt only from the normal income tax . Although the United States securities for individual investors , therefore , do not compare favorably with the yield on State and municipal securi- ties which are issued free from all ...
... securities exempt only from the normal income tax . Although the United States securities for individual investors , therefore , do not compare favorably with the yield on State and municipal securi- ties which are issued free from all ...
第 17 頁
... municipal , or township bonds . Otherwise , certain bonds will be preferred over others , and the interest rates , resulting from such a condition , unequal and unfair . " Second , if all such interest is made subject to both normal and ...
... municipal , or township bonds . Otherwise , certain bonds will be preferred over others , and the interest rates , resulting from such a condition , unequal and unfair . " Second , if all such interest is made subject to both normal and ...
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amount AUGUSTINE LONERGAN authority borrow money burden Cameron Company Chief Justice collect taxes compensation Congress constitutional amendment corporation Court held debt derived from securities dollars Dominion excise tax exempt from taxation exempt securities favor Federal Government Federal securities Finance francs Frederick Van Nuys future issues Government securities governmental functions income derived income from Federal income from tax-exempt income tax increase individuals interest rates investment investors issue of tax-exempt judges June 24 June 30 lay and collect legislation Mellon ment municipal bonds municipal securities National net income normal tax obligations opinion power to tax present proposed question ratification reichsmarks Revenue Act salaries Secretary securities issued Senate Joint Resolution Senator AUSTIN Senator BYRD Senator LONERGAN Senator VAN NUYS sixteenth amendment STAM statement subcommittee Supreme Court surtax Swiss francs tax on income tax the income tax-exempt interest tax-exempt securities tax-free taxation taxing power taxpayers tion United States Government wholly
熱門章節
第 50 頁 - It is admitted that there is no express provision in the Constitution that prohibits the general government from taxing the means and instrumentalities of the States, nor is there any prohibiting the States from taxing the means and instrumentalities of that government. In both cases the exemption rests upon necessary implication, and is upheld by the great law of self-preservation; as any government, whose means employed in conducting its operations, if subject to the control of another and distinct...
第 24 頁 - The right to tax the contract to any extent, when made, must operate upon the power to borrow before it is exercised, and have a sensible influence on the contract. The extent of this influence depends on the will of a distinct government. To any extent, however inconsiderable, it is a burden on the operations of government. It may be carried to an extent which shall arrest them entirely.
第 53 頁 - The Congress shall have the 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.
第 1 頁 - That the following article is hereby proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by conventions in three-fourths of the several States : "ARTICLE — "SECTION 1.
第 31 頁 - If the right to impose the tax exists, it is a right which in its nature acknowledges no limits. It may be carried to any extent, within the jurisdiction of the state or corporation which imposes it, which the will of each state and corporation may prescribe.
第 31 頁 - All subjects over which the sovereign power of a state extends are objects of taxation; but those over which it does not extend are, upon the soundest principles, exempt from taxation.
第 22 頁 - The general government, and the States, although both exist within the same territorial limits, are separate and distinct sovereignties, acting separately and independently of each other, within their respective spheres. The former in its appropriate sphere is supreme; but the States within the limits of their powers not granted, or, in the language of the Tenth Amendment, "reserved," are as independent of the general government as that government within its sphere is independent of the States.
第 11 頁 - Another reform which is urgent in our fiscal system is the abolition of the right to issue tax-exempt securities. The existing system not only permits ^a large amount of the wealth of the Nation to escape its just burden but acts as a continual stimulant to municipal extravagance. This should be prohibited by constitutional amendment. All the wealth of the Nation ought to contribute its fair share to the expenses of the Nation.
第 1 頁 - Resolved by the Senate and House of Representatives of the United States of America in Congress assembled (twothirds of each House concurring...
第 53 頁 - It is contended that although the property or revenues of the States or their instrumentalities cannot be taxed, nevertheless the income derived from State, county, and municipal securities can be taxed. But we think the same want of power to tax the property or revenues from the States or their instrumentalities exists in relation to a tax on the income from their securities, and for the same reason, and that reason is given by Chief Justice Marshall in Weston v.