The Incredible

A bill was signed last week which actually lowered income taxes. It was not signed by the President—Federal income taxes were still on the way up. It was New York's Governor Herbert H. Lehman, in Albany, who scratched his name across a bill cutting the State's income tax (one of the highest in the U.S.) by 25%. Net saving to taxpayers: $18,000,000 this year, $21,000,000 in 1943.

New York is one of some half a dozen States which turned up with a nice fat surplus this year. Mississippi also cut its income tax—from a base of 3% to 1½%. But very...

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