The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1942-04-30

NfFNfBER MICHIGAN
LEVELlNG-oFF

LEVELlNG-OFF
Bing Crosby will sing for his
supper" no more. He will sing al
most exclusively for the tax collec-
tor If legislative action follows the
proposal made by President Roose'
Welt yeste, day that net income after
taxes be limited 10 $4,000.
Crosby Is among the approx
mately 10000 citizens OF these
United States with an income OF
more than $4,000 a year-and even
current fede al income taxes take
NJ 10 $4,000 Of that $4,000
Currently CROSBY gets $4,000 a
broadcast. his SCI cen earnings for
1940-the latest figure available
were $4,000. He owns dozen en-
terprises and he is just one OF the
top-rauking figures OF stage, screen,
industry and business who face the
prospect Of a depleted income.
Another IS Louis B. Mayer, man
aging director Of 1LOew's, who has
earned up 20 a million dollars a year
and was making S697 049 as recently
as 1910
Still talking in telephone mum
bors. Thomas J Watson, president
Of International Business Machines.
was last quoted al SAP $50 in salary
and bonuses. George V. Hill. presi-
dent Of American Tobacco Company,
al Si2Q.999
Jimmie Cagney has knocked down
s36s.333 in one year: Sonia Henie,
S249.l66: Ginger Rogers. S2l9.500;
". c. Fields. S255 900; and Deanna
Durbin. s209.s33.
All Of them have investments
swelling their income.
4 few residents Of the country
will have 20 struggle along on one
fortieth OF their income for in the
last returns made public. the Treas
NY Department noted that there
were Al persons with an income Of
one million dollars or more. They
were not identified.
How the big wage earners ant
coupon clippers would adjust thei
lives 10 $4,000 net income whicl
would be Ike lunch money to som,
or them-would be their persona
problem.
II is possible that more big es
tates would go on the market a
they did in the depression, more
cooks. buffers and chauffeurs woulC
head into war industry.
William S. Knudsen might have
some suggestion.
He tossed up an income OF 1872,
566 TO 20 into government service
first at no pay, then az a modest
government salary.
The President, himself. may lead
the way. People are asking what
Will become OF his s75,001-a-yeal
salary
Under existing tax laws the fed
eral government would take an in
come tax OF approximately s33.64s
and then New York state would
exact an income levy Of about
1858. Thus. these two income
taxes would reduce the President!
income by az least s3T26s-almos
half Of his yearly salary.
The government allows the Chic
Executive expenses for travel bu
IVl enough. ne puts IN Approximate
~ $4,000 yearly out OF his oWr
. pocketoook toward the upkeep an
Turning expenses OF the Whit,
House. This leaves him a balanc.
from his salary OF about sl7.732--
considerably below the figure ne ha
set as ceiling for individual in
comes
a general question about Mr
hoosevelt's personal affairs pe-
tains TO his share OF the ti.0ss.s7
estate left by his mother. Mrs. sara.
Delano Roosevelt. OF which he 4
heir TO nine-tenths
The answer is that nothing vii
be available TO the President fror
this estate for some time. Cour
proceedings will delay any settl,
ment Of it for al least a year.