TAXATION: Depression Children

Last week the Governor of New York squiggled "Herbert H. Lehman'' at the bottom of a bill taxing retailers within his State 1% on all sales. Effective May 1, the tax will apply to everything people buy except food, motor fuels, public utility services. Strictly a child of Depression, it will be operative 14 months, put $30,000,000 new revenue in the depleted State Treasury. Since the economic crisis, four other states have adopted retail sales taxes. Depression children also, they appear to be thriving.

Mississippi enacted her 2% tax May 1, 1932. Up...

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!