Impact of Tax Reform and Simplification Proposals on Small Business: Hearings Before the Committee on Small Business, United States Senate, Ninety-ninth Congress, First Session ....
U.S. Government Printing Office, 1985 - Small business
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accounting ACRS additional allowed amount assets base basis believe benefits bill burden capital capital gains changes Committee companies complex concern Congress corporate cost deductions depreciation economic effect elimination employees England equipment equity example executives fact fair farm favor Federal firms gains going Government growth impact important incentives income tax increase individual industry interest investment tax credit investors issues it's keep kind less limited look lower major marginal measure million Montana operations oppose payroll percent present President President's proposals problem production proposals question reduce respondents result Senator Baucus simplification small business smaller spending STATEMENT survey Tax Code tax laws tax rate tax reform tax system taxation taxpayers Thank that's things tion Treasury treatment
Page 415 - State: when there is an income tax, the just man will pay more and the unjust less on the same amount of income; and when there is anything to be received the one gains nothing and the other much.
Page 428 - Less comprehensive but in the same category are the Tax Equity and Fiscal Responsibility Act of 1982 and the Tax Reform Act of 1984, passed by Congress and signed by President Reagan in July 1984.
Page 608 - I am also a Director of the Smaller Business Association of New England, a member of the Tax Committee, and Chairman of the Tax Policy Subcommittee.
Page 525 - ... it is impossible to predict the precise economic effects of the entire package of Treasury Department proposals on all industries and individuals in the economy. Although many mathematical models of the economy exist, economic science simply is not sufficiently precise to allow accurate prediction of the effects of reforms as fundamental and pervasive as those proposed by the Treasury Department; accordingly, this Report contains no such attempt at precise quantification of economic effects.
Page 537 - ... certainly I think that we were, I hope that all of us on this subcommittee will try as hard to make the improvements that we can in this system. But each of you have made, I think, very valuable contributions to that effort, and you have made very fine statements, and I appreciate the fact that all of you have taken time out of what I know are very busy schedules to be here with us today. That will conclude this hearing. [Whereupon, at 12:12 pm, the subcommittee was adjourned.] Testimony of Anthony...
Page 525 - Although it is possible to identify the industries that would lose special tax preferences, it is impossible to predict the precise economic effects of the entire package of Treasury Department proposals on all industries and individuals in the economy. Although many mathematical models of the economy exist, economic science simply is not sufficiently precise to allow accurate prediction of the effects of reforms as fundamental and pervasive as those proposed by the Treasury Department; accordingly,...
Page 494 - highly erodible land* means land classified by the Soil Conservation Service of the US Department of Agriculture as class IVe, Vie, VII or VIII under the Land Capability Classification System. Any person who produces an agricultural commodity on "highly erodible' land brought into crop production after the passage of this Bill would be ineligible for: 1.
Page 524 - No longer will the allocation of the Nation's scarce economic resources its labor, its capital, its land, and its inventive genius be distorted by the biases of the current tax system. Instead, under the economically neutral tax system proposed by the Treasury Department, market forces will direct resources to those activities where returns are greatest. The result will be more productive investment and thus greater output.