 | American Economic Association - Economics - 1919 - 918 pages
...recommends the "elimination or reduction" of the excess profits tax. His indictment of the tax reads: "It encourages wasteful expenditure, puts a premium on overcapitalization and a penalty on brains, energy, and enterprise, discourages new ventures and confirms old ventures in their monopolies.... | |
 | Economics - 1920 - 568 pages
...recommends the "elimination or reduction" of the excess profits tax. His indictment of the tax reads: "It encourages wasteful expenditure, puts a premium on overcapitalization and a penalty on brains, energy, and enterprise, discourages new ventures and confirms old ventures in their monopolies.... | |
 | Economics - 1920 - 964 pages
...the Congress. Still more objectionable is the operation of the excess-profits tax in peace times. It encourages wasteful expenditure, puts a premium on overcapitalization, and a penalty on brains, energy and enterprise, discourages new ventures, and confirms old ventures in their monopolies.... | |
 | Economics - 1920 - 652 pages
...normal or " modal "rate of profit. The working seems to justify Secretary Glass's description: "It encourages wasteful expenditure, puts a premium on over-capitalization, and a penalty on brains, energy, and enterprise." Keynes' " Economic Consequences of the Peace." CLIVE DAY. A criticism... | |
 | New York Chamber of Commerce - Commerce - 1920 - 794 pages
...evident as to require little explanation. We have the word of former Secretary GLASS, that this tax encourages "wasteful expenditure, puts a premium on overcapitalization and a penalty on brains, energy and enterprise, discourages new ventures and confirms old ventures in their monopolies."... | |
 | Hugh Ronald Conyngton - Corporations - 1921 - 228 pages
...recommended either elimination or reduction of the excess profits tax on the grounds, among others, "that it encourages wasteful expenditure, puts a premium on overcapitalization and a penalty on brains, energy, and enterprise, discourages new ventures and confirms old ventures in their monopolies."... | |
 | Carl Copping Plehn - Finance - 1921 - 476 pages
...the Congress. Still more objectionable is the operation of the excess profits tax in peace times. It encourages wasteful expenditure, puts a premium on over-capitalization and a penalty on brains, energy and enterprise, discourages new ventures, and confirms old ventures in their monopolies.... | |
 | Debts, Public - 1922 - 316 pages
...Indiana banks and by them to patrons formed a definite part of the war financing in Indiana, and 8. US Treasury Report. 1919. Page 25-26. 4. Secretary..."encourages wasteful expenditure, puts a premium on over-capitalisation and a penalty on brai'-:. er?rsy and enterprise, discourages new ventures, and... | |
 | United States U.S. Congress. Senate. Committee on finance - 1935 - 420 pages
...the Congress. Still more objectionable is the operation of the excess-profits tax in peace times. It encourages wasteful expenditure, puts a premium on overcapitalization and a penalty on brains, energy, and enterprise, discourages new ventures, and confirms old ventures in their monopolies.... | |
 | United States. Congress. Senate. Committee on Finance - Finance - 1935 - 422 pages
...the Congress. Still more objectionable is the operation of the excess-profits tax in peace times. It encourages wasteful expenditure, puts a premium on over-capitalization and a penalty on brains, energy, and enterprise, discourages new ventures, and confirms old ventures in their monopolies.... | |
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It encourages wasteful expenditure, puts a premium on overcapitalization, and a penalty on brains, energy and enterprise, discourages new ventures, and confirms old ventures in their monopolies. 
