Unanswered Questions

The best that can be said of the 1943 tax bill, now being put into legal language for presentation to the House, is that it is the biggest, toughest tax measure ever adopted by the House Ways & Means Committee. But it leaves at least three major questions unanswered.

Is It Enough? As the bill finally left the committee, it was, by the Treasury's computation, $2.7 billion short of the Treasury's $8.7 billion goal. At the last minute the committee—with Presidential permission—reversed itself, killed mandatory joint returns, thus sliced away an estimated $430,000,000 in revenue.

What of a Sales Tax? Although the...

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