REDUCTION OF INDIVIDUAL INCOME TAXES

HEARINGS

BEFORE THE

COMMITTEE ON FINANCE

UNITED STATES SENATE

EIGHTIETH CONGRESS

SECOND SESSION

ON

H. R. 4790

AN ACT TO REDUCE INDIVIDUAL INCOME-TAX
PAYMENTS, AND FOR OTHER PURPOSES

MARCH 1, 2, 3, 5, 8, 9, AND 10, 1948

Printed for the use of the Committee on Finance

INDEXED

UNIT

OVERNMEN

WASHI

CONTENTS

Statement of-

Page.

Alvord, Ellsworth C., chairman, Committee on Federal Finance, Cham-
ber of Commerce of the United States, Washington, D. C-----
Benson, Judd C., chairman of the Committee on Federal Law and
Legislation, National Association of Life Underwriters, Cincin-
nati, Ohio___.

446

502

Button, Ralph W., on behalf of National Retail Dry Goods Associa-
tion

458

Courts, R. W., partner of Courts & Co., Atlanta, Ga---

573

Dunbar, Charles E., Jr., attorney for the Louisiana Property Taxpayers
Committee, New Orleans, La--.

347

Foley, Paul J., CPA, Paul J. Foley & Co., certified public accountants,
Chicago, New York, and Washington, D. C---

277

Foosaner, Samuel J., chairman, Federal Tax Lawyers Committee, New-
ark, N. J.

253

Fulbright, J. William, United States Senator from the State of Ar-
kansas

187

608-

464

Gainsbrugh, Martin R., chief economist, National Industrial Confer-
ence Board, New York, N. Y___

Halvorsen, Lloyd C., economist, the National Grange, Washington,
D. C

Hanes, John W., former Under Secretary of the United States Treas-
ury, New York, N. Y___

Harriman, W. Averell, Secretary of Commerce, accompanied by
Michael J. Mecham, Director, Office of Business Economics; S. Morris
Livingston, Chief, National Economics Division, Irwin Friend, Chief,
Business Structure Division, Department of Commerce, Washing-
ton, D. C---

Higgins, Allan H. W., chairman, American Bar Association, section of
taxation, committee on equalization of taxes in community-property
and common-law States, Boston, Mass_
Howe, James P., attorney, Seattle, Wash_.
Jackson, J. P., attorney, Dallas, Tex_-

Kem, James P., United States Senator from the State of Missouri.
King, Willford I., economics professor emeritus, New York University,
and chairman of the Committee for Constitutional Government_-_
Laylin, Clarence D., tax counsel of the Ohio Chamber of Commerce,
Columbus, Ohio__.

91

409

304

344

320

178

486

125

Lodge, Henry C., Jr., United States Senator from the State of Massa-
chusetts---

170

Magill, Roswell, Westport, Conn__

245

Marsh, Benjamin C., executive secretary, People's Lobby, Inc., Wash-
ington, D. C‒‒‒‒‒

130

Maybank, Burnet R., United States Senator from the State of South
Carolina__.

511

Miller, Walter P., Jr., representing National Paper Box Manufacturers
Association, Philadelphia, Pa__

243

Mitchell, Don G., chairman, Taxation Committee, National Association
of Manufacturers, accompanied by John C. Davidson, manager, Gov-
ernment Financial Department; George Hagedorn, economist; and
Dr. Harley C. Lutz, tax consultant, National Association of Manu-
facturers, New York, N. Y_____

Nixon, Russ, Washington representative of the United Electrical Radio
and Machine Workers of America, CIO, Washington, D. C‒‒‒‒‒
O'Mahoney, Joseph C., United States Senator from the State of Wyo-
ming

217

367

157

III