PROFITEERING

Digests of resolutions adopted by the
Central Conference of American Rabbis
between 1889 and 1974

2. We advocate support of the Nye Committee to investigate all the facts connected with the manufacture and sale of arms and other war materials and its proposed legislation to take the profits out of war. (1935, p. 63)

3. We advocate the nationalization of munitions industry and the adoption of any measures necessary to take the profits out of war. (1936, p. 65)

4. We oppose the creation of another generation of war millionaires, therefore, we favor a hundred percent excess profits tax on all war contracts. (1942, p. 98)

5. A time of war or mobilization is also a time when a danger of profiteering is enlarged. American business, agriculture and industry are entitled to a reasonable profit commensurate with both investment and risk. They are not entitled to profiteer through the misery and tragedy of others. We call upon the Congress, therefore, to enact such legislation as will provide that all profits beyond those which may be considered normal in peace time shall be utilized for the emergency defense needs of the nation. We are convinced that the exceptionally favorable profit picture of American industry makes it imperative that a substantially greater share of the defense load be carried first through further excess profit taxes on corporations before there are additional increases in the personal income tax of the middle and lower groups. ( 1951, p. 104)