May Start to Be Taken Out of Pay Check
WASHINGTON, D.C.—Secretary of the Treasury Henry Morgenthau, Jr., has proposed to Congress that income taxes be increased to double what they are now for the lower brackets while other brackets would see lesser increases. The projected overall average increase is stated at sixty per cent. Additionally, Morgenthau has asked for the authority to collect taxes “at the source” by requiring employers to withhold up to ten per cent of an employee’s pay check to cover the levy. No specific date for beginning the collection via pay checks was given in the proposal, but many experts have suggested July 1 as the date. This date would, in effect, mean many would be paying taxes for 1941 and 1942 at the same time.
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