U.S. At War: Idea

No one-not even the Treasury, as yet -wants to make defense-bond buying compulsory. But the flood of money in the country has risen dangerously high. The Wall Street Journal had the idea-of-the-week: dangle the profit motive in front of income-earners. Encourage petiple to hand over their cash to the Government, suggested the Journal, by letting them deduct from their income taxes 10% of every dollar they invest in defense bonds. The Journal thought that thus the Government could 1) sell plenty of bonds to cheerful buyers, 2) perhaps even get away with paying no interest.


Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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