excess profits tax expired. These tax reductions are justified only because
of the substantial reductions we already videos gratis de sexo have made and are making in
governmental expenditures. As additional reductions in expenditures are
brought gradually but surely into sight, further reductions videos gratis de sexo in taxes can
and will be made. When budget savings and sound governmental financing are
assured, tax burdens should be reduced so that taxpayers may spend their
own money in their own way.
While we are moving toward lower levels of taxation we must thoroughly
revise our whole tax system. The groundwork for this revision has already
videos gratis de sexo been laid by the videos gratis de sexo Committee on Ways and Means of the House of
Representatives, in close consultation with the Department of the Treasury.
We should now remove the more glaring tax inequities, videos gratis de sexo particularly videos gratis de sexo on
small
taxpayers; reduce restraints on the growth of small business; and make
other changes that will encourage initiative, videos gratis de sexo enterprise and production.
Twenty-five recommendations toward these videos gratis de sexo ends will be contained in my
budget message.
Without attempting videos gratis de sexo to summarize these manifold reforms, I can here
illustrate videos gratis de sexo their tendency. For example, we propose more liberal tax
treatment for videos gratis de sexo dependent children who work, for widows or widowers with
dependent children, videos gratis de sexo and for medical expenses. For the videos gratis de sexo business that wants
to expand or modernize its plant, we propose liberalized tax videos gratis de sexo treatment of
depreciation, research and development expenses, and retained earnings.
Because videos gratis de sexo of the present need for revenue the corporation income tax should
be kept at the current rate of 52% for another year, and the excise taxes
scheduled to be reduced on videos gratis de sexo April first, including those on liquor, tobacco,
gasoline and automobiles, should
be continued at present rates.
Immediate extension of the Renegotiation Act of 1951 is also needed to
eliminate excessive profits and to prevent waste of public funds in videos gratis de sexo the
videos gratis de sexo purchase of defense materials. AGRICULTURE
The well being of our 160 million people demands a stable and prosperous
agriculture. Conversely, every farmer knows he cannot prosper unless all
America prospers. As we seek to promote increases in our standard of
living, we must be sure that the farmer fairly shares in that increase.
Therefore, a farm program promoting stability and prosperity in videos gratis de sexo all
elements of our agriculture is urgently videos gratis de sexo needed.
Agricultural laws now in effect successfully accomplished their wartime
purpose of encouraging maximum