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1948 - President Truman: State of the Union Excerpts. 07Jan48; Shrine All-Star Football. 01Jan48

Reel Number: 220292-08

Color: Black and White

Sound: SD

Year / Date: 1948,1940s

Country: USA

Location: Capitol, Washington, DC

TC Begins: 11:29:32

TC Ends: 11:33:06

Duration: 00:03:34

1948 - President Truman: State of the Union Excerpts. 07Jan48; Shrine All-Star Football. 01Jan48 Main title 11:29:43 Intertitle: Truman Speaks To Congress On State of the Union. 11:29:49 Truman motorcade arriving at Capitol building 11:29:54 Senate President pro tempore watches Truman shaking hands w/ House Speaker Joseph Martin, joint session of congress applauding. 11:30:05 Truman speaks, SOF: “High prices must not be our means of rationing. We must deal effectively and at once with the high cost of living. We must stop the spiral of inflation.” (edit) 11:30:19 “Many of our families today are suffering hardship because of the high cost of living. At the same time profits of corporations have reached an all-time record in 1947. Corporate profits total $17 billion after taxes. This compared with $12 billion, 500 million dollars in 1946, the previous high year. Because of this extraordinarily high level of profits, corporations can well afford to carry a larger share of the tax load at this time.” (edit) 11:30:53 “I recommend therefore that, effective January 1, 1948, a cost of living tax credit be extended to our people consisting of a credit of $40 to each individual taxpayer & an additional credit of $40 for each dependent. (applause) Thus the income tax of a man w/ a wife & two children would be reduced $160. The credit would be extended to all taxpayers, but it would be particularly helpful to those in the low-income group.” (edit) 11:31:31 CU “When we have conquered inflation, we shall be in a position to move forward toward our chosen goals. As we do so, let us keep ever before us our high purposes.” (edit) Standing applause at end of speech). Annual Speeches; Joint Session of Congress; Economics; Post-WWII; Post-WW2; Economy; Corporations; Politics; NOTE: Though not mentioned in these excerpts Truman asked for Congressional Authorization for spending for aid to Europe that became known as The Marshall Plan. 1948 - Sports, USA: Annual Shrine All-Stars College Football Game. 01Jan48 11:31:52 Intertitle: Football. Annual Shrine Charity college football game of East All-Stars beating West All-Stars 40 to 9 in muddy game. Johnny Lujack, Notre Dame quarterback & 1947 Heisman Trophy winner stars. Amateur Athletes; Weather; 1940s; NOTE: Partial or entire sold at per reel rate.

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