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Show The total was more than 50 per cent larger than all corporation net income, which aggregated about eight billions ... Deposits of 13 billion dollars in mutual savings banks also reflect wartime prosperity. The banks are in the strongest position of their 128-year history. Depositors have good-sized reserves to launch them in the postwar era, when industry in-dustry is pledged to support expanded ex-panded production, full and free competition, fair wages, and more and better jobs for all. 4 ((pnlhinqtoti ky JameS Preston Congress is giving a favorable reception to War Mobilizer Byrnes proposals for tax revisions after the fall of Germany. Influential members of both parties agree that business and industry should have prompet postwar tax relief so that they may carry out their mission of providing more jobs and greater security for all Americans Amer-icans . . . Byrnes proposed: (1) to increase in-crease the specific exemption from excess profits taxes from $10,000 to $25,000; (2) to allow a larger tax deduction for deterioriation in the early life of business and industrial facilities; (3) to release re-lease part of the cash tied, up in corporation refund and excess profit pro-fit refund bonds as soon as the war ends in Europe . . . Farmers had net income of more than 13 billions in 1944 after deducting de-ducting production expenses, according ac-cording to preliminary estimates. |
