TAXING WAR PROFITS
STEEP RISE PLANNED WASHINGTON PROPC)SAL (Reed. Mar. 23, 11 a.m.) WASHINGTON, Mar. 22. A bill intended to take the profits out of war by a taxation programme has been introduced in the Senate with the support of 50 senators representing all the political parties and constituting the majority, thus assuring the passage of the measure unless there is some change in the minds. The measure applies a normal levy of 0 per cent on all incomes, with exemptions ranging from £IOO to £2OO plus surtaxes ranging to 93 per cent. For Example, an income of £4OO would pay £l2, an income of £2OOO would pay £528, while an income of £2,000,000 would pay £1,978,000. Also all corporation profits over (i per cent would be taken. Most of the sponsors said that they favoured the measure purely as a means of keeping the United States out of war.
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Poverty Bay Herald, Volume LXVI, Issue 19895, 24 March 1939, Page 7
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150TAXING WAR PROFITS Poverty Bay Herald, Volume LXVI, Issue 19895, 24 March 1939, Page 7
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