The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1941-10-16
TRADE
WINDS"
Nv HNErnn


that the government VII do al L
esn II prevent var profiteering.
That calls for congressional legs
lation as 10 limiting The margin
Of profits On defense contracts.
But such cannot be accomplished
unless the public stands behind Il.
Il Ia no secret that the admins
tration takes no action unless
there Is a national demand. To
limit var profits. tho people must
call for Il. The best way 10 bring
about such q condition q via pub
Lefty. And what would be better
than a trlst-busting court action ,
Result. A federal grand jury IS
said tn have heen sworn in last
week. in New York. that vii hear
evidence on how large corpora
tons connived 80 that they would
obtain large profits out Of defense
contracts. The closed hearings viii
run from one to three months.
The timing element IA perfect
The grand jury indictments will
be handed down just about the
time the house ways and means
committee il working on the new
1912 revenue act. The indictments
will name almost all important in
dustrial corporations Of the ooun-
try-at time when armament
production Will be swinging into
capacity.
RUNNING WILD 1t Is only
wishful thinking that keeps one
from believing taxes will not be
increased. Truth of the matter Is
that the 1912 revenue act will be
an "all-out" measure. II will hit
the small income man as well as
the $1,000. 900. 900 corporations.
The new revenue act will be a
humdinger. say informed Wash
ington circles. Why? Not only TO
pay for defense needs. but that
Washington has lost its head and
will even try to pull in extra funds
to help pay for previous years of
easy spending-lending.
EVERYTHING PAys Much
has been heard about the $500
600, 900 1a41 tax bill. That 10 a
small part of what the public will
pay, In only the income-tax part
of the 1e41 revenue act. The full
bill totals $4,000, o00.00oi Don't
forget the tax on theater admis-
sions, jewelry. furs, vacuum clean
ers. radio sets. cosmetics. liquor,
radios, automobiles, etc.
PROFITABLE - Estimates are
that Uncle Sam will pay out about
$50. 600. 900 in operating expenses
to collect the $4,000, 600, o0e In
taxes due under the ie4i revenue
act.
FORGOTTEN MAN-The Amer
lean people must make sacrifices
for national defense-very great
ones. But the ones hit most are
the middle class-those who earn
from $4,000 to SIS, 900 annually.
The middle class will be double
barreled in the drive. II will be
disastrous. The day will come
when the middle class-baekbone
of the nation-will be discussed a.
the New Deal forgotten man of
World War II.
SOCIAL SECURITY" TAX
Keen business minds are not fooled
by President Roosevelt's announce
ment that he would like to see the
benefits of social security spread
to those not now covered. They
couple that desire with White
House moves TO double the size of
present social security payments
TO the government.
Look at il any way you like
say business people, IL is another
tax on payroll costs. Purpose
they agree, is for the social seeur.
ity reserve fund to gather in more
money To purchase treasury bonds
But IL will be burdensome tax
especially To the businesses hurt
by priority rulings.
Expansion of social security il
bad for life insurance companies
Wage earners will feel no neces.
sity to save for old age. or a 20.
called decent funeral. on the theor,
that perhaps the government vii
eventually make 4 guarantee &c
do that. too.