The Waterbury Democrat., 1942-10-26


 So take the case of one James (Jim) Dandy, married, two children, earning $60 week all through 1943, buying his home and paying for it at the rate of $50 month, half of it being interest and the other half payment on the principal. Assume that Jim Dandy carries life insur- ance to the amount of 5000, which costs him $100 a year in premium. Assume also that Jim is having 10 per cent of his pay deducted weekly for the purchase of war savings bonds.
 and incomplete and maybe impos- sible budget, but 1t will show how this Victory tax thing will work.
 In the first place, the Victory tax does not apply on the first SIP of every workers weekly wages. People who earn less than SIP a week don't have to pay Victory tax. But when Jim Dandy's boss makes up the payroll each week, he will have to Substract $12 from $60. which is Jims weekly pay rate. That leaves &1o. Il 1Alc NACbO4y GcA ID y PCA SCAAU of this $48, or $2.40 a week, taken directly from Jim'S pay envelope be- fore he get a look at 1t.
 A CALCULATING PILLOW
 For the year 1943, Jim's Victory tax of $240 Q week for g weeks will amount to $124.80. Jim him. self will account for this money I !, 1Nte RVse-f iafH fa return before March Is, 1914, mak- ing his calculations somewhat as follows
 Having contributed this Victory tax. Jim is theoretically entitled to lcertain postwar refunds. If Jim were single, he would be entitled to a 25 per cent refund. Being mar ried, he gets more. On July l, ls4S, therefore, Jim should be re- minded to count his family, for the computation of his refund is to be determined by his marital status on that date. Congress probably didn't figure it out deliberately, but this gives a young gal 15 per cent inducement to be June bride, for folks who are married and living together on July l, l943 are entitled to a 70 per cent refund.
 But to get back to Jim Dandy. Counting his family on July l, he learns that he has one CD wife. That entities him to 70 per cent refund. They have two 'G2 chil- dren. He gets a 2 per cent refund lon each. or a total of A per cent retunc on the sI2460. This is the sum which Jim's boss had already taken from his pay envelope dur ing isss. Multiplying it out. S4 per cent os si2sS0 comes to S5z-si, the amount of the sO-caileo post W2r sz1c-
 Docs Jim ge. this refund and if SO. waea and hoE2 If Jim had no aznzralce. no ce5tS, and was buy- azS 70 wag bcndE. he could not get sla.s refund uy after the EaE S sEkg.
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