New Taxes for Defense

Archive Report


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Richard M. Boeckel, Editor

Need of Heavier Taxes to Check Inflation

Rapidly mounting defense costs, combined with growing threats of inflation, caused the administration early in November to urge the House Ways and Means Committee to consider prompt enactment of drastic new tax levies, despite the fact that the greatly increased taxes imposed by the Revenue Act of 1941 had not yet gone into full effect. When the committee declined to take immediate action, President Roosevelt wrote to Chairman Doughton (D., N. C), November 8, that he very much feared ...

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