Administration's Fiscal Year 1983 Economic Program: Hearings Before the Committee on Ways and Means, House of Representatives, Ninety-seventh Congress, Second Session ....
U.S. Government Printing Office, 1982
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additional adjusted administration administration's amount assume average balance believe benefits better billion budget Chairman ROSTENKOWSKI changes committee concerned Congress continue corporate cost defense deficit dollars economic effect estimates expect expenditures fact Federal figures fiscal fiscal year 1983 forecast funds future give going Government growth hear higher House impact important incentives income increase indexing individual inflation interest interest rates investment kind less look lower major markets means monetary outlays percent period PICKLE present President problem productivity projected proposals provisions question raise rates reason recession recovery reduce require result revenue rise Roberts savings Secretary social spending statement STOCKMAN substantial suggested supply talking tax cut tax rates Thank things tion trying WALKER
Page 280 - ... on the 15th day of the 3rd month following the close of the tax year.
Page 639 - That doctrine recognizes the direct effect of a tax which "would operate on the power to borrow before it is exercised" (Pollock v. Farmers' Loan & T. Co. 157 US 429, 39 L. ed. 759, 15 S. Ct. 673, supra) and which would directly affect the government's obligation as a continuing security. Vital considerations are there involved respecting the permanent relations of the government to investors in its securities and its ability to maintain its credit...
Page 636 - It is true that the power of Congress to tax is a very extensive power. It is given in the Constitution, with only one exception and only two qualifications. Congress cannot tax exports, and it must impose direct taxes by the rule of apportionment, and indirect taxes by the rule of uniformity. Thus limited, and thus only, it reaches every subject, and may be exercised at discretion.
Page 586 - Service stated its position that the provisions of the law "have no application to interest paid on indebtedness represented by deposits in banks engaged in the general banking business since such indebtedness is not considered to be 'indebtedness incurred or continued to purchase or carry obligations « « «' within the meaning of section 265.
Page 639 - It has been sustained where, as in Collector v. Day, the function involved was one thought to be essential to the maintenance of a state government: as where the attempt was to tax income received from the investments of a municipal subdivision of a state, United States v.
Page 425 - We note that section 6673(a)(2), which was enacted as part of the Omnibus Budget Reconciliation Act of 1989, 103 Stat.
Page 654 - The primary goal of financial accounting is to provide useful information to management, shareholders, creditors, and others properly interested; the major responsibility of the accountant is to protect these parties from being misled. The primary goal of the income tax system, in contrast, is the equitable collection of revenue; the major responsibility of the Internal Revenue Service is to protect the public fisc.
Page 568 - ... includes some virgin materials shall not be treated as failing to meet the exclusive use requirements of subparagraph (A) if the amount of such virgin materials is 10 percent or less. (D) CERTAIN EQUIPMENT INCLUDED. — The term 'recycling equipment...