Bald, bashful, nervous Treasury Secretary Henry Morgenthau had mapped his campaign like a general getting ready for a spring offensive. He had stored up quantities of materiel for verbal war. His scouts had reconnoitered the House and Senate. This week, as his adding machines rolled forward, Mr. Morgenthau invaded Congress with the greatest army of tax proposals ever seen on earth.

His timing was perfect. U.S. taxpayers have started filing returns for 1941. When they get a look at Mr. Morgenthau's spring invasion, 1941's record taxes will look like a minor skirmish with...

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