Truman urges $5 billion tax rise to fund war effort
President Truman called for a quick five billion dollar yearly tax increase starting October 1 to finance Korea and global defense. Individual rates would rise toward WWII levels for about 52 million filers, corporate taxes would climb, and faster action was urged as the budget was already out of balance. Treasury said roughly three billion would come from individuals, one billion from corporations, and five hundred million from loophole closures and other changes. The plan faces swift Senate Finance Committee review with no public hearings planned.
MENTIONED IN THIS ARTICLE
Washington
Truman
Korea
George
D-Ga
Senate Finance Committee
White House
Treasury
Treasury Plans 20 Percent Income Levy Rise
Treasury figures an effective tax rate rise for individuals with $2,000 income before personal exemption. A sliding scale of changes is outlined, signaling a bigger rise in higher pay posal at first glance. The presidential pro and higher pay proposal frame the plan.
MENTIONED IN THIS ARTICLE
Treasury
Tax changes debated by county leaders next week
County Commissioners plan to attend the Western Shore County Commissioners Association meeting at the Naval Medical Center in Bethesda Wednesday. Host Montgomery County will lead morning talks on assessing methods and a general discussion follows in the afternoon addressing statewide tax issues and district rotations.
MENTIONED IN THIS ARTICLE
Mayland
Western Shore County Commissioners Association
Naval Medical Center
Bethesda
Montgomery County Counc
Frederick Couunry
Beme
Calvert County
State Tax Commission
Court of Appeals
Taa
Officials announce 1840 diesel engine milestone and 1930 invite
New Delhi India announced the production milestone of 27 Dy the Montgomes and diesel engines in 1840. Invitations were sent to the County Commissioners of the association in 1930 calling for 4 000 more units to be produced.
MENTIONED IN THIS ARTICLE
New Delhi
India
Association
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Rawte
U. S
Pusan
Japan
Neaacive
Ed Hoffman
Gilbert
North Market Street
S-M-L
Chenille
Rayons & Cottons
J. C. Penney Co., Inc
North Market ST
Giletts
N. Market
Frederick
Commissioners Way
Grant Hooper
Hooper
U. S. Army
Sam Miller
the News
All Org
Thea! Williamson
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