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Withholding Tax and Tax Credit Linked Since Lincoln Era
The piece discusses Senate fight over 8 percent investment tax credit and 20 percent withholding on interest and dividends, noting Byrd may block both, with possible amendments. It recalls Lincoln's 1862 income tax origin, wartime revenue needs, and early use of withholding taxes, plus modern enforcement concerns and projected 1961 figures.
MENTIONED IN THIS ARTICLE
Washington
NEA
Senate Finance Committee
Harry Byrd
House of Representatives
Byrd
Senate
White House
Kennedy
Treasury
Dillon
Internal Revenue Service
Lincoln
Congress