TAXES: Hope for the Future

After nearly two years of study, the Treasury Committee on Intergovernmental Fiscal Relations this week released a six-volume report examining in detail the problem of federal-state-local fiscal relations. One major problem graphically discussed is the impact on the taxpayer of the overlapping of these three tax-collecting Governments within the U.S. (see chart). In 1941, reported the study, the five big sources of tax revenue were: the corporation income tax ($2.2 billion); personal income ($1.7 billion); motor fuel ($1.3 billion); payroll ($1.9 billion) and realty ($4.5 billion).

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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