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Show J lainis' Income Hit 654 Million Peak in 1943 had increased to Sol.P'JO.000, with ! approximately S 1-3 per cent of Utah income taken from state and local t'i.xes. "The IK 15 set a new ull-time peak in state and locaf govern- mental expenditures, which j soared since 1910 almost hand and hand with increased tax ! revenue," the report stated. Hence, the question: 'Should this state continue taxes to maintain war-inflated governmental govern-mental costs OR should governmental govern-mental expenditures be reduced in keeping with declining income?' in-come?' The choice is one which the citizens of Utah must make." i The stoiy of Utah's skyrocket-. I cd income is featured in the : second of a series of state tax j study reports issued by Utah Foundation, a non-profit tax study organization. Released this week by Stanley J. Stephenson, managing director direc-tor of the Foundation, the report re-port shows that 1943 was the peak income year with total income in-come reaching S654.000.000. In 1941. the last year for which statistics are available, income shrunk to $600,000,000. The report also points out that Utuh benefited more from the wartime boom than did reiirhborin? states. Utah income I in 1944 was more than 2 14 times more than in 1940. Comparatively, Com-paratively, incomes in Idaho increased 126 per cent, Nevada 113 per cent, Montana 92 per cet. Colorado 87 per cent, Wyoming Wyo-ming R9 pet- cent. Utah waee earners and sal-u-ied workers benefited most from wartime boom incomes' the report stated. In 1940 total wier anH salary income was 5160.000 000, increasing to $459,-000,000 $459,-000,000 in 1943 and shrinking slietitly to $402,000,000 in 1944- Taxes soared with income, according ac-cording to the report. State and : looal tax collections in 1940 to- ! : taled W5.000.000. In 1944 they ! |
