MORE WAR TAXES
ADVOCATED 111' PRESIDENT. (Rec. 1.30 p.m.) RUGBY, Jan. 13. In his Budget Statement to Congress President Roosevelt said that the total expenditure in the fiscal year 1945 is estimated to exceed the net receipts by 59,000 million dollars. Without further legislation the ■ deficit will amount to 59 per cent, of the total expenditures, approximately the same i'.s the comparable ratio in .the current fiscal year.
"In October, 1943, n. revenue programme M-as presented calling for additional wartime taxes of 10,500 million dollars," the President added. "Those recommendations are still under consideration by Congress and I wish to strees the need for additional wartime taxes of at least the amount requested in October. Increases in income should be limited to reasonable amounts for additional effort. A wartime tax policy directed to that objective is a necessary supnort to wage and price stabilisation. „ The time to impose high taxes is now, when incomes arc high and goods scarce. If we do not now pav in taxes all we can we shall be'treating unfairly those who must face the accumulated bill after the war. The industrial income will be approximately 40 per cent, higher in 1944 than 1941 after the payment of all taxes, Federal and local. —Official Wireless.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS19440114.2.14
Bibliographic details
Manawatu Standard, Volume LXIV, Issue 39, 14 January 1944, Page 2
Word Count
209MORE WAR TAXES Manawatu Standard, Volume LXIV, Issue 39, 14 January 1944, Page 2
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Standard. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in