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...