Letters, Jun. 14, 1943

Payroll Tax Deductions


Your article on "Taxation" appearing in the May 24 issue contains a statement which was no doubt an oversight, but which I believe may be confusing and possibly misleading to many people who do not have adequate information on the precise provisions for withholding under the pending pay-as-you-go legislation.

In connection with your table of payroll tax deductions under the Senate Bill, you state ". . . beginning July 1, most wage earners will find their pay checks lopped by about 20%—17% income tax plus 3% Victory tax." You do not...

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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