The Skyland post. [volume] (West Jefferson, N.C.) 193?-1988, 1942-10-22

w dSIl1IlSIOIl, u. ~ lie SSlldLS
surprised the nation when, with
only five days of debate, it passed
the gigantic tax bill which is ex-
pected to bring in around nine
billion dollars in revenue to the
government. The bill was then
sent to conference where senate
and house members Immediately
went to work to seek a compro-
mise between the house and SEN
ate versions of what our 1943
taxes should be.
The senate tax bill spent so
long in committee before it was
finally brought to the floor of the
senate, and it involved so many
controversial issues, that it was
expected to spend several weeks
in the senate before final vote
was taken. The fact that the SEN
ators rushed it through so quickly
indicates that, even with election
less than a month off, the MAORI
ty of them may have decided that
political considerations must be
relegated to the background.
The chief difference between
the house and senate version OF
the tax bill is that the senate
measure calls for Victory tax
above and separate from all other
taxes, which would consist of a
payment of S per cent on all sala-
ries and wages of 1924 a year or
more. That means that a man
earning the minimum-$624, or
$12 a week-would have to pay
$3.50 Victory tax, plus regular
taxes. Whether the house would
agree to this large addition to the
tax was considered somewhat
doubtful, although it is generally
agreed that if this tax doesn't
pass, a sales tax will be necessary
and either type of tax would
force a contribution by those who
are earning minimum incomes.
AS an amendment to the tax
bill, the senate approved the freez-
ing of social security payments at
l per cent instead of increasing
the social security levy to 4 per
cent as requested by the President.
Although the new tax bill, if
passed, will practically eliminate
the possibility of any man retain
ing over $4,000 a year, and will
mean that families of even mode
rate incomes will pay up to %
per cent of their total earnings
in taxes, Secretary Morgenthau
has already indicated that large
additional taxes will be requested
as soon as the present tax meas
ure become law.
One Of the leading subjects of
debate here this week, and one
that is probably more complicated
than any which has faced the
government so far, is the problem
of drafting man power to keep
our war industries going at top
speed and at the same time supply
labor to farmers and to necessary
home industries. The difficult
problem of keeping thousands of
small businesses alive in this
country is also included in the
program.
If it comes to a point Of actually
drafting all available man power
and putting each man in the job
in which he will be most produc-
tive, typical problems which will
arise are these: Will men with
good-paying jobs and be forced to
accept whatever wage the govern
ment decides they should get?
Will families be broken up or
forced to move to new places?
What non-war businesses will be
considered essential? Who will
answer these vital questions and
be given the power to handle the
local end of assigning men to jobs?
The answer to these questions
will have to be decided partly by
legislation and partly by the War
commission, headed by
Paul McNutt, which is expected
to request legislation to fit the
plans it is formulating.
Although initiation will continue
to be a threat so long as the
people are earning more money
that the total value of goods being
produced, the New Economic
Sterilization board, headed by
James F. Byrnes, is believed to
have enough power to prevent in
flation if it sets up the. proper
controls.
The first move of the board, to
keep the prices of feed from rising
in order to stave off increasing
the cost of livestock and poultry,
is expected to be of major help |
IN stabilizing food prices. How
ever, approval of the National