The Waterbury Democrat., 1943-01-11

be the best fed, clothed and housed people in the world And he said that freedom from want for every one everywhere no longer was a .Utopian dream but an objective to be sought when the peace comes.
 National income in the current fiscal year is expected to reach $13S,- 100000 900 and to hit dizzy $l45,- 100000, ,00O in fiscal year 1944. It was around $40,000, 100000 in 1883.
 Big Bites Coming
 Out of this mour ting national iIl- come MT. oRcsevelt desires to take correspondingly big bites in taxes and forced savings. He was not specific in his tax recommerldac cions, although treasury officials today were emphasizing some kind oi spending tax" part of which would be refundable and, therefore, par take of the character of forced sav- ings. MT. Roosevelt did<make these general tax recommendations:
 1. Put taxpayers on a pay-as; you-gO basis as far as feasible.
 2. Simplify the tax system.
 3. Make taxes on higher and very large incomes full effective by removing the tax exemption from future issues of such Secur- ities as now enjoy that exemp- ti0n.
 4. Obtain certain reforms in the tax structure, notably to cur tail advantages enjoyed under de- pIetiOn of reserves provisions and by persons in those few states where married couples are enabled to file joint income tax returns.
 Developed at Hearing
 Some of the foregoing tax pro- grams was developed at a budget press conference Saturday at which the president discussed his message at length with newspaper reporters. It was contained in the message only in general terms and MT. Roosevelt emphasized that the methods of taxation were the problems of con- greSs but he said he still was against general sales tax, although indicating that he might go along with a substantial expansion of the existing excise tax structure. An ex- else tax is a form of sales tax on specified commodities.
 "The revenue acts of the past three years" MT. Roosevelt sald. particularly the revenue act of 1942, have contributed greatly toward meeting our fiscal needs. In the fiscal year 1944, total general and special receipts under present law are estimated at $35,O0O, ,O00, 900; al- most six times those of the fiscal year l940. But the increase in ex- penditures has been even more rapid.
 T believe that we should strive to collect not less than $16. 6.000. .000,- GOO dollars of additional funds by taxation, savings, or both, during the fiscal year l944.
 Current Receipts High
 "On the basis of present legtsla. ton, we expect to meet SA per cent of total estimated federal expendi- lures by current receipts during the fiscal year 1944. If the objective proposed in this message is adopted. we shall meet approximately SO per cent of those expenditures dur ing the fiscal year 1924"
 The compulsory nature or tne suggested savings revenue was de. veloped in the presidents budget press conference. But he emphasized that such revenue ultimately would return to the individual after the war.
 The message to congress was not delivered in person but was read by clerks in the House and senate PICK UP A-
 The fiscal year covered by thia budget message will begin on July 1, next and end on June 90, lez4.
 Net Income High
 MT. Roosevelt estimated net fiscal year income on the basis of present tax schedules at e33.0oi .24o 900, attes deduction of more than e20O0. 900 i. OOO for reserves required by law. Ht said the fiscal year deficit would aggregate e7l.O47. SIC, ,o23. The Iaa. tlonal debt will be e2i0.o00. GOO o0l when the fiscal year ends 10 months hence. It is approximately eiiss' GOO, ,Oo0, 900 today.
 eo7 7,eoo. .oo0, ,0ee is estimated var var spending through the TEeasnFy
 sl,lzs.ssl'e2s e non-war spens- lng;
 is,soe,sso.Oos national debt D. torests
 si.s5AIsaeoe h waE and sem