The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1942-07-07
BY ROGER W. BABsoN

dustrial employment Is at a new
all time high as we come TO an
other Independence Day. Hence,
national income should also break
all previous records. estimate
for 1912 that this should approx.
innate sl17O0O,O 200, 900. This is
better than a 65 per cent gain
over 1889. By national income |
mean the income received by the
people and not the income of the
Federal Government. How It is
saved or spent-and particularly
the share Of il that retailers will
GETS OF vast Importance to all
OF us.
Savings and Taxes
Individual checking and savings
accounts are rising. This means
that funds are accommodating for
future purchases. Taxes. OF
course, are headed sharply up
ward. Including the purchase Of
War Bonds. for which the Gov
eminent has asked only 10 per
cent OF our income, savings and
taxes will probably account for
about s3l .00O,O00.O00 OF the peo-
pies money this year. This would
leave some $50, 900, 100000 for
food. clothing, rent. fuel, electric
ity. and ice; house furnishings.
church, benevolences and chart
ties. insurance, miscellaneous
items, garbage pail and other
forms Of waste.
Until Congress decides what
form the new income tax bill will
take, no one can closely estimate
the charge for individual taxes.
Some form OF monthly payments
covering personal income taxes
in advance, through deductions
from salaries and wages, may lie
ahead This would supplement the
present sale OF tax anticipation
notes. Luxury taxes. real estate
taxes (Which may rise as a re-
suit OF a decline in gasoline taxes
if rationing becomes nation wide).
state. gift, and other forms of
taxes surely will take a larger
share of income this year than
last. However as the tax outlook
is still uncertain, ! have consider
ed savings and taxes together in
the above estimate.
ALLEGATION Of National Income
In my opinion there could he
spent in retail shops this year
approximately s60.974, 100000. OF
this. 24,596.000.000 could go for
food and the balance of sS6.47S.-
100000 could be spent in depart
ment stores and other retail out
lets for all other purchases except
food. Churches and charitable
gifts should take $3.50, 100000. or
G per cent OF our net income after
allowing for all savings and tax
es. The balance OF some s19,S66.-
100000 will be split up among the
other previously mentioned items
of living costs comprising insur-
ance, rent, fuel. electricity. and
ice.
Many families are properly TAX
ing advantage OF rising incomes.
They are intelligently spending
their money. They are paying
oft mortgages. doctors and dent
lists bills, and cleaning up overdue
accounts with the garage man,
grocer. druggist, and other retail
ers. The decline in installment
loans shows that most people are
row paying cash for household APP
pliances and personal effects. Re
ceipts of motion picture theaters,
restaurants, and hotels indicate
that people are also getting some
enjoyment out of their money
Wartime Washington
was in Washington during all
of the last war and have spent
some time there since World War
II started. Except for the present
crazy rush. the scores of new bu'
reaus. and the crowded transpor-
tation and housing. cannot see
much difference in the place. Pc
litically, Washington remains
unchanged and the executive
branches of government have not
altered. Washington continues to
blow hot and blow cold. It Is
frightened and panicky one day;
bold and optimistic the next day.
Its state of mind translated into
rules and regulations is clearly
reflected in our people.
Washington is Shaping on cell
ings, priorities. and restrictions
as fast as the regulations can be
thought up and printed. Much OF
this is admittedly necessary. but
all Of it is not or course, labor
is not now available to manufac-
ture so many consumers goods as
in peacetime; but the manufacture
of many civilian articles will con
tinue. Substitutes will be found
for raw and finished materials
Believe me. when | say that most
of the consumers goods industry
is going to be protected.
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