FISCAL: Astronomy

The Bureau of Internal Revenue last week finished counting the dollars it took in during fiscal 1939. They totaled $5,181,665,738, a drop of $477,099,576 from 1938. Off most sharply were individual income tax payments, which fell $257,386,851. Pay roll taxes were off only $2,212,877.

Five billions is nearly 2,300 millions more than the average amount the Government collected through the roaring late 1920s, but still it came nowhere near paying the Government's bills. Even in the era of the Permanently Unbalanced Budget, the bloated poverty of fiscal 1939 was something to remember. The red-ink-stained picture drawn by Secretary Henry ("Henny-penny")...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!