ADDITIONAL TAXES
Treasury Request To U.S. Congress
(Received September 4, 10 p.m.) WASHINGTON, September 3.
The Treasury has asked Congress to levy an additional (5,500,000,000 dollars in taxes on individuals, over and above the 0,271.000,000 dollar tax Bill passed by the House, providing for a rebate of 4.500,000,000 dollars after the war. If the Treasury proposals are enacted, it would boost to 14 billion dollars the amount over the existing taxes, making the total collections 30,500,000,000 a year.
The Secretary to the Treasury, Mr. Morgenthau, lias proposed a tax on consumer spending which would reacli into the lowest income groups above the level of bare subsistence, and provide high penalty rates for luxury spending. In addition, lie has asked for tiie lowering of exemptions.
The Senate Finance Committee of tiie Senate interrupted the presentation of the Treasury’s spending and tax plan and unanimously adopted a resolution by Senator Vandenberg directing the Treasury to submit plans for a general war sales tax. Senator Byrd, in disclosing this, predicted that the spending tax would be rejected."
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Dominion, Volume 35, Issue 290, 5 September 1942, Page 7
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174ADDITIONAL TAXES Dominion, Volume 35, Issue 290, 5 September 1942, Page 7
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