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8/22/41
or discounts or possibly having in mind that the Treasviry or Federal Trade Commission might see the v/isdom of questioning such practices I do not know. However, you will note he sought to justify the con¬ tinuance of these rebates and discounts of taxation. We are opposed to the lowering of the income tax base until such time as those with proven ability to pay are properly taxed. The taxes v;hich tije Print¬ ing Trades have advocated will collect more net revenue than the total amount which the Treasury v/ill receive from taxes received through the lowering of the income tax base. We understand that tlirough the lowering of the income tax base it is expected tliat the Treasury vdll collect some nineteen millions of dollars and the cost of collecting will be some fifteen millions of dollars,
”The taxes v/hich we suggest will raise at least twenty-five millions of dollars. Of this amount some twenty m.illions of dollars oould accrue through the elimination of these rebates and disco'untS;, which do not show in the receipts of the radio broadcasting companies and the netv/orks, and the payment of this money into the Treasury as taxes. The networks, with their increased net profits of 213 per cent for the period 1956-1940, inclusive, alone can pay an additicnal five million dollars yearly. They would still 'nave according to the Federal Communications Commission, for 1939 and for 1940 some four millions of dollars yearly as net profits, after all taxes, on their investment of :ii34, 614,000, In addition, there are a number of other stations, the net profits of which range from 63 per cent to 133 per cent.
"The net profits of the entire Industry as shovm by the reports of the Federal Communications Commission. 1959, uvas some ^24, 000, 000 on a declared value of properties worth ^28,000,000, Radio broad¬ casters v/ould have you believe the proposed tax on radio broadcasting statiens is a tax on advertising. That they do not believe such themselves is best evidenced in the brief of the Hati'jnal Association of Broadcasters, You will find on page 18 they say 'radio broad¬ casting is the principal source of entertainment in America’," On the same page they emphasize their insistence that radio broadcasting is an amusement and entertainment enterprise as you will note they say that radio broadcasting "enjoys t'ne favor of half again as many people as its closest competitor, the motion picture,"
"Surely, no one will contend that the motion pictures, radio broadcasting's closest competitor, is advertising. During the J:^inance Committee Hearings, in response to a query as to placing a tax cn advertising. Senator Bennett Clark said; 'You cannot con¬ ceivably tax newspaper advertising imder the Supreme Court decision in the Louisiana case,'
"Reference was made before the comrnittee that the Executive ^oimcil of the American Federation of Labor had voted to oppose this L'Sx, The A, P, of L, v/as not consulted by the Printing Trades Unions as to whether or not such tax should be levied,"
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