HIGHER TAXATION
PROPOSAL IN UNITED STATES. .MESSAGE FROM PRESIDENT. By Telegraph—Press Assn.—Copyright. Washington, June 19. President Roosevelt has asked Congress for a general increase in taxes, particularly in the higher levies. The President’s special message, giving surprise to all save lenders, advocated increased rates on very large personal incomes, imposts on higher inheritances and gifts, and a higher schedule for corporate income taxes. It referred to the disturbing effects upon America’s national life that came from the great inheritance of wealth and power, and proposed study for the elimination of unnecessary holding companies in all lines of business. The chairman of the House Ways and Means Committee, Mr. Doughton, commented: “As I understand it this is just a suggestion for the future. Our committee could not do anything about it now; we have our hands full.”
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Bibliographic details
Taranaki Daily News, 21 June 1935, Page 5
Word Count
136HIGHER TAXATION Taranaki Daily News, 21 June 1935, Page 5
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