Show THE NEW TAX BILL the new tax bill which was passed by the house and Is now in the senate has many merits but it likewise has haa defects which slidell be remedied before final enactment act ment the is to be complimented oil it removing the clause which would have forced orad hus husbands and wives with separate incomes to lump their ear earnings ninga la in a single re le turn and so ao pay afar a far higher glier total tax than would otherwise ha have e been levied this provision was waa manifestly unjust and la in effect amounted to to a definite economic penalty upon the institution of oi marriage prime weakness of the house bill in the view ot of most economists life iles in the failure to place an equitable qui table tax upon those in a the lower laconic income brackets who will receive the bulk of the wages result ing from defense spending president roosevelt requested that exemptions empt ions be reduced but his advice was rejected so it la Is tip ip to the senate to correct this defect the gigantic 9 ittle cost ot of defense nae can only be met it all income brata contribute their fair share furthermore it if we are to prevent runaway price inflation a curb must be placed on oil consumer purchasing power and the only way to do that is to directly tax those groups which are leaping the richest harvest from the barboom war boom Is ag the president also pointed out the me sections of the bill dealing with excess profits and corporation taxes need revision at present certain classes of budness are heavily penalized while other classes by comparison are unduly favored many fear that the bul bill places almost ruinous tax burdens on some industries whose survival and progress is vital to the national welfare the senate has hag a big job on its hands the future security and prosperity ot of this country will depend pend to it large extent on how bow well that job lg Is accomplished |