Show economic ai the governments present tax pulley has two distinct plin phase ses first and most obvious phase phado lit la the of more inore denue second phase is 1 to reduce consumer purchasing power as oue one means of fighting inflation war priorities will result iu ia a consider able reduction in hi the attic amount of goods available for consumers war spending on oil the other hand will wil result in it a great increase in pay tolls tolla and income that situation unless corrected must almost ui in ovit ably result lit in price inflation and one lueana of correcting it la is heavy taxation few authorities oppose these purposes pur 12 8 hut but a good many authorities uro tire extremely dubious of the mid awl ju justice atice of tile the new tax bill lis aa tentatively approved by tile the house of Anit atles committee their opposition 14 1 based on oil grounds grou udy the now new tax bill cluen its ita heaviest burdens burdena on oil tilt the kroupa group dittes or of taxation on olt big groups make inako it possible to alib increase itte front froin them persons and families earning Min illig from ji t ta jil 12 per year bo be forve W pay tile the bulk of the increase in taxes writing wilting lit in the now york tivies godfrey N K nelson lilii liu ii says that it if tile the proposed bill passes passed lu III ltd its orni less kw hum 4 1 I per cent of 0 the population lativa will have to t diaho returns and nearly one halt of thew will rt not lo be 10 required to pay it tux tax because ut of their exemption credits in other words tho the tux dova not reach down dowl litto into tho the smaller bracket incomes mr air nt gual like other ct suggests that it la 19 advisable to reach these lower tile I 1 I 1 mes other cither by reducing mincing amounts of c or ly by levying a flat 1 tax payable ut at the source ou oa all incomes it reasonable to ite ho bays that if tho the ua liol a debt Is ever to bo be paid au all earnings should bo be made to contribute to tho the liquidation furthermore it la Is clear that tho the groups brouca which are aio composed largely ut of salaried people will share tho the least lu in war spending wages for workers are going up far faster thau than sala sal rUiH arleia for white collar help ou on ahm groups alone the ww bill definitely inequitable bouw W omo are convinced that tho the bur den the new bill will place ou on industry la Is dangerously high no ono one wants auts war profiteering but ia bi 1 it clearly necessary for industry to aril sufficient profits for slon atohi and to to attract new capital if it la 19 to von na ila u healthy healt liy pro factor lit in our national life por for this irabon tile the soundness of the exec profits tax of the bill la is gravely doubted lu la many quarters still another of the bill iu ili liow coming coining in for severe abere critt cisla that clint la Is the provision which whyel would force foice husbandly hus bandy and view to lucip their income lit une ono return 11 aeu IL though each earned incomes 11 hill were lit in no yay vay connected experts estimate that provision would mould provide some of bf additional revenue nue coln coin 1111 ou on tilt this I 1 L Lipin Lt till out western banker said suel lucli au ail important amount as aa must not bo bo ally dealt with but ono one would lac arcely arguo argue that the size aie of the amount determines the justl justley ce or propriety of the tax B ladop IV william T manning asail led the pro ou on other grounds when he said if cong Oong rez retains this 1 pro those who baff been divore divorced ox or igho live in luini oral sexual avill bs be called ow ou to pay tar far loss less to tile tho go eminent than the married couples cou plea anti and david fA dawrence wrence points out that tho the supreme court has even een gone gon e go 0 o tar as to hold that even where a husband and wife receive a joint income from a single source they have the legal tight right to file separate returns tor for tax purposes still salu another general criticism of government fiscal polley policy is that almost diu it nothing has haa as yet been done to reduce rH lue non noll defense federal spending various authorities including treasury experts have estimated that 10 to 2 could be sav cd by pruning unnecessary and avoidable items from the budget summing up tho the feeling la Is almost Ual universal versal that all of us without exception must pay greatly increased taxes and make inake all news sary sacrifices for defense defence hut but many economists regard the new bew tax bill na as a heltor helter affair unsound and in some cases con which needs needa a thorough overhauling |