TAXATION: Supers, Subs, Sub-Subs

Last week President Roosevelt came down from principle to practice on his social tax program. To his air-cooled White House office he called Chairman Robert L. Doughton, a potent handful of Ways & Means Committeemen and several tax experts to face with him the fact that sky-high rates on a few very rich men and a few very large estates would produce only a ridiculously small amount of additional revenue for the treasury. Upshot of the conference was a tacit agreement that the forthcoming tax bill would have to bear down harder not...

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