In Chicago last week Marriner S. Eccles, chairman of the board of governors of the Federal Reserve System, advanced his own plan to get more money this year into the Treasury. The plan: a 30% withholding tax on 1943 incomes (10% higher than that presently contemplated by Congress), with possibly some adjustment made on 1942 tax liabilities. But total forgiveness as advocated by Beardsley Ruml was definitely not part of the Eccles thinking. With the Government now collecting only about one-third of its total war bill in taxes, the first need according to Eccles, is to get more money.
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