Taxation of Governmental Securities and Salaries: Hearings Before the Special Committee on Taxation of Governmental Securities and Salaries, United States Senate, Seventy-sixth Congress, First Session, Pursuant to S. Res. 303 (75th Congress) a Resolution Establishing a Special Committee on the Taxation of Governmental Securities and Salaries, Volumes 1-3
United States. Congress. Senate. Special Committee on Taxation of Governmental Securities and Salaries
U.S. Government Printing Office, 1939 - 713 páginas
Considers legislation to submit state and local bonds and salaries to Federal taxation, and Government securities and salaries to state taxation.
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additional adopted agencies amendment amount argument Association assumed authority average basis believe borrowing burden capital CHAIRMAN collect committee Congress consideration considered constitutional corporations debt decision Department derived differential direct effect employees estimate exemption existing fact Federal Government Federal tax Federal taxation figures Finance funds further future gain given governmental held holdings immunity imposed income tax increase individuals interest cost investment investors issues Justice legislation levy loss Lutz matter means ment municipal bonds municipal securities obligations officers opinion opposed outstanding paid passed percent persons port possible present proposed question reason received reciprocal record refunding Representatives resolution Resolved respect result revenue salaries securities Senator sixteenth amendment statement Supreme Court tax-exempt tax-exempt securities taxable taxpayers tion Treasury United Whereas yield York
Página 699 - At the same time, the candid citizen must confess that if the policy of the Government upon vital questions affecting the whole people, is to be irrevocably fixed by decisions of the Supreme Court, the instant they are made in ordinary litigation between parties in personal actions, the people will have ceased to be their own rulers, having to that extent practically resigned their Government into the hands of that eminent tribunal.
Página 1 - Congress, to employ such clerical and other assistants, to require by subpena or otherwise the attendance of such witnesses and the production of such books, papers, and documents, to administer such oaths, to take such testimony, and to make such expenditures, as it deems advisable.
Página 501 - Income derived from any public utility or the exercise of any essential governmental function and accruing to any State, Territory, or the District of Columbia, or any political subdivision of a State or Territory, or income accruing to the Government of any possession of the United States, or any political subdivision thereof.
Página 653 - The Court bows to the lessons of experience and the force of better reasoning, recognizing that the process of trial and error, so fruitful in the physical sciences, is appropriate also in the judicial function.
Página 497 - A complete power, therefore, to procure a regular and adequate supply of it, as far as the resources of the community will permit, may be regarded as an indispensable ingredient in every constitution. From a deficiency in this particular, one of two evils must ensue : either the people must be subjected to continual plunder as a substitute for a more eligible mode of supplying the public wants, or the government must sink into a fatal atrophy, and, in a short course of time, perish.
Página 697 - It is but a decent respect due to the wisdom, the integrity, and the patriotism of the legislative body, by which any law is passed, to presume in favor of its validity, until its violation of the constitution is proved beyond all reasonable doubt.
Página 1 - ... make such expenditures, as it deems advisable. The cost of stenographic services to report such hearings shall not be in excess of 25 cents per hundred words. The expenses of the committee, which shall not exceed $30,000, shall be paid from the contingent fund of the Senate upon vouchers approved by the chairman of the committee or the chairman of any duly authorized subcommittee thereof.
Página 37 - The people of all the states have created the general government, and have conferred upon it the general power of taxation. The people of all the states, and the states themselves, are represented in Congress, and, by their representatives, exercise this power.
Página 295 - ... the power to tax is the power to destroy. The following quotation will show the reasoning of the minority in this regard : " It is said that the power to tax is the power to destroy...
Página 47 - ... which we have given and of the decision in the Pollock Case and the ground upon which the ruling in that case was based, there is no escape from the conclusion that the Amendment was drawn for the purpose of doing away for the future with the principle upon which the Pollock Case was decided, that is, of determining whether a tax on income was direct not by a consideration of the burden placed on the taxed income upon which it directly operated, but by taking into view the burden which resulted...