The U.S. Treasury this week was working on a plan to collect income taxes in advance. Some time after July 4, tax-anticipation certificates will go on sale, permitting taxpayers to invest their money in taxes the same year they earn it.
Blond, dapper John L. Sullivan, Assistant Secretary of the Treasury, told newsmen that these tax certificates will probably come in denominations starting at $1 or $5, will bear interest (probably 2%) in the form of a discount, like defense bonds. Treasury officials said the certificates will not be transferable or subject to use as collateral for bank loans. Thus banks...
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