Milford chronicle., 1943-01-22
A WEEK OF THE WAR

Z
Unfavorable weatheere in Apri
and during almost all the last Al
days of the navigation season pro
duced delays in vessel operations
but could not stop Great Lakei
freight. The bulk freight com
merce of the Great Lakes in 1874:
reached the staggering total o
17S,577,S2S net tons. Obviously thu
, outstanding feature of this ship
ping record was the movement o.
iron ore, which, originally sched
uled to reach SO million gross tons
actually totaled 92 million. In net
tonnage, this amounts to about 10S
million, and to this achievement
must be given much of the credit
for helping the steel industry
maintain uninterrupted operations
at monthly rate of more than z
million ingOt tons of steel for war.
WAR BUDGET
The Presidents Budget Message
to Congress forecast Federal ex-
penditures of $10S billion in the
fiscal year 1914 and called for SIG
billion in new collections by taxa
tiOn. savings or both. Proposed
war costs for 1914 were set at 500
billion. WAR expenditures for 1912,
as released by the OWL, totaled
more than $52 billion-3.S times the
amount spent in 1941-but at the
end of the year. they were running
at an annual rate of about $74
billiOnD
Emphasizing that methods of tax
alton should be determined by Con-
gress. the President asked Congress
to put taxpayers on a pay-as-you-
go basis. simplify the tax system,
and effect certain reforms in the
tax structure. Specifically, these
reforms would include changes in
the etiOn-of-reserves provi-
sions, extension to all income of
the present limitation of $25.O00
net on earned income, removal of
the tax exemption from future is
sues of securities. and curtailment
of the advantages of joint income
returns still allowed married cou-
pies in some states.
PAY-AS-YOU.GO TAX PLAN
A Treasury Department state
ment said the simplest and most
effective method of placing individ-
ual income tax payments on a cur
rent basis is collection of the taxes
at the source of the income Stan
ley S. Surrey. Tax Legislative
Counsel of the Treasury Depart
ment. explained that if income tax
collections at the source were
made applicable at the normal
(plus first bracket surtax) rate, the
vast majority of our taxpayers
about 25 million of the estimated
3 million income taxpayers -
would be placed on a current basis
and would also have their income
taxes automatically buIgeted for
them.
Americans are already subject to
one Withholding taX-the Victory
tax. Treasury officials have point
ed out that Withholding. in this
case, is a collection device rather
than a tax in itself. a device de-
signed TO help the taxpayer pay
his 1943 Victory tax when it falls
due in March 1914. The methods
developed for administering the
provisions were deter
mined upon as the most equitable
'or all taxpayers affected, under
he terms of the statute imposing ;
he tax.
WOMEN IN WAR
This week VINO Chairman Nc +
Iutt, announcing that 4 million
are now working in war
,lants. predicted that in very
hort time one out of every four
workers. in American war indus
ries will be a woman. To meet
943 war production goals, the !
lumber of women workers must in {
rease. until. by the end of the
ear, 6 million women will be en-
aopd i'm UaI. OpOductiOn work