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Roanoke Rapids Herald in Roanoke Rapids, North Carolina

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This newspaper page contains 3 articles. Subscribers can read the full text of each article.

Newspaper

Roanoke Rapids Herald

Location

Roanoke Rapids, North Carolina, United States of America

Date

Jan 05, 1933

Page

7

Hoover Budget Pushes 21 4 Percent Federal Manufactures Tax

The article reports President Hoover urging Congress to adopt a 21 4 percent federal sales tax on manufactured goods with no food exemptions. It argues this tax should be uniform nationwide to avoid double taxation by states and outlines possible methods to distribute excess revenue to states, referencing Roosevelt’s support.

Hoover Congress Mississippi Internal Revenue Department Roosevelt Florida New York

Distribution Of The Sales Tax And State Returns

The piece analyzes a 1929 2 percent federal sales tax and how 71 percent returned to states would distribute about 1.06 billion to states with the federal government retaining 25 percent. It uses Florida and Mississippi examples and argues for a federal tax sharing plan to avoid interstate inequalities. It notes existing state inheritance tax credits and suggests a sales tax law returning funds to states.

United States Hoover Florida Mississippi

Federal and State Tax Conflicts Prompt Revisions

The article argues for a balanced tax system between federal and state levels. It notes Florida’s shift to qualify for federal tax credits and proposes a federal tax approach that avoids inequities by reserving state rights to tax articles not covered by a federal tax.

Also Mentioned on This Page

Roanoke Rapids Herald Roanoke Rapids North Carolina Halifax County Boeikidt G. C. Willings Pensacola Fla Mr. Willing Albert T. Reid Roanoke Rapids Building & Loan Assoc W. Second Street DIAL
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