TAX-CUTTING PROPOSAL
fA'.Z. Press Asst;—Copyright) WASHINGTON. Declaring that United States industry had grown rusty and needed help, the United States Government asked Congress to cut taxes for corporations and stockholders by nearly SUSI4.OOO million over a six-year period. The Treasury Secretary (Mr William Simon), in presenting the tax plan to the House Ways and Means Committee, proposed a phased elimination of what is regarded as a double tax on dividends. At present, corporations pay taxes on their profits before any dividends are paid to stockholders, and then stockholders face additional tax liability on the dividends they receive.
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Press, Volume CXV, Issue 33917, 9 August 1975, Page 17
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97TAX-CUTTING PROPOSAL Press, Volume CXV, Issue 33917, 9 August 1975, Page 17
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