“We Are Americans First and Trade Unionists Second”
WILLIAM GREEN, PRES. A. F. OF L.
IT TAKES BOTH, WAR BONDS AND TAXES, TO
WIN-VICTORY TAX SPECIAL DIRECT LEVY
ASKED TO HELP MEET HEAVY WAR COSTS
WASHINGTON, D. C.—Approximately 50,000,000 American workers began to make an added
contribution to the War cost this month in the form of a 5% Victory tax.
For many millions of Americans the Victory tax and the 1943 income tax are the first direct
levies to be made by the Government to meet the staggering War costs. And it wiU take both ...
taxes and War Bonds ... to provide the supplies and materials to win the War and the peace after
wards. 5 tontaw.
The Treasury Department estimates
that the Victory tax will raise approxi
mately $2,000,000,000. Every person
receiving more than $12 per week
must pay the Victory tax upon that
part of his income over and above the
$12. For example, a married man
with a salary of $50 per week, with
two dependents, would make only a
net payment of $1.06 per week after
allowance for post-war credit.
The Government has made every ef
fort to make the impact of the new
tax as light as possible. The law,
in effect, provides that in the case of
married persons whose sole income is
from wages or salary, 40 percent of
the Victory tax paid (up to a maxi
mum of $1,000) plus 2 percent for
each dependt (up to a maximum of
$100) may be used as a credit against
whatever Federal income taxes the in
dividual may owe at the end of the
year—provided he has purchased cer
tain War Bonds, or paid old debts or
paid life insurance premiums equal
to the amount of this credit. In the
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SPORT COATS for SPRING
CADET SIZES (10 to 18)
*|095.«d*l295
STUDENT SIZES <33 to 38)
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if Plaid! if Tweeds!
if Shetland*! if Flannels!
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BOYS’ DEPARTMENT
BELK BROT HERS
case of single persons this credit will
be 25 percent of the Victory tax paid
(up to a maximum of $500). Should
the Victory tax cerdit exceed the in
dividual's Federal income tax, the un
used portion of the credit may be re
fundable to the taxpayer.
Even with the Victory tax, the 1943
income tax, and all other taxes paid
by individuals, the average American
will have mode money with which to
buy War Bonds than he has ever had
before. Here are the statistics which
explain that statement:
In 1940 the total income payments
made to the American people amount
ed about 76 billion dollars. In that
same year the total personal taxes
paid. Federal, State and local, were
roughly 2.5 billion dollar leaving 73.5
billion dollar of diposable income. Dur
ing 1943 total income payments are
expected to rise to 125 billion dollars
and total personal taxes under exist
ing revenue legislation will be 15 bil
lion dollars—leaving 110 billion dol
lars of income at our disposal as
against only 73.5 billion dollars in
1940.
In 1943 Mr. Average American will
still be carrying a much lighter tax
load than his Canadian or English
brothers-in-arms— In Great Britain
total national and local taxes paid by
individuals at present amount to 31
percent of the national income— In
Canada, total individual taxes amount
to 25 percent of the national income.
In the United States, total persona)
taxes. Federal, state and local, will
amount in 1943 to 18 percent of nat
ional income. Our English allies in
vest _an .additional .10 .percent .of
national income in War savings. Our
Canadian allies invest an additional
11 percent of national income in War
savings. We Americans, to match the
record of our Canadian neighbors,
would have to invest this year 20 per
cent of our national income in War
savings. To match the English record
we would have to invest 23 percent of
national income in War savings.
-V
Forty thousand women war work
ers have recently been transferred
from Scotland to factories in England
where they are need more.
Liquor and Gas Will Not Mix.
IT'S A
KNOCKOUTI
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• MOORE'S HOUSE PAINT k> a pure linseed
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.... The Demons oi Decay haren't a
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• It pays to prolong the life oi any house these
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does jurt that
We Will Gladly Recommend a Re fable
Painting Contractor
PRITCHARD'S
PAINT & GLASS CO.
112 West Fifth St. Dial <148
Foremost Pasteurized Farm
fresh milk -
FOREMOST DAIRIES, INC.
PHONES 71 IS — 7117
60TH
ANNIVERSARY
MECHANICS PERPETUAL
BUILDING & LOAN ASSOCIATION
CHARLOTTE, N. C.J
PATRONIZE JOURNAL ADVERTISERS
HOSPITAL SAVING ASSOCIATION
OP NORTH CAROLINA, INC.
CHAPEL HILL, N. C.
Mrs C. T. WANZER, Charlotte Manager
1102 Independence Building Phone 5434
“A-RASTLIN’ WITH THE DUMPS”
I never like to see a man a-rastlin’ with the dumps,
Cause in the game of Life he doesn’t always hold the trumps;
But I can always cotton to a free and easy cuss
As takes his does an’ thanks the Lord it isn’t any wuss.
There aint no use a-kickin’ an’ a swearin’ at your luck,
Yer can’t correct the truoble, more-n you can drown a duck.
Remember when beneath the load, your sufferin’ head is bowed
That God’ll sprinkle sunshine in the wake of every cloud.—
—“Captain Jack” Crawford (1847-1917).
A MOTHER’S REQUEST
I’ll be careful with cocoa,
The coffee and the tea,
I’ll save my paper and my scraps
Uncle Sam can count on me;
And when it comes to gas and tires
For bullets to those pesky Japs.
While as for rationed sugar cards.
I’U only think them fun,
If Uncle Sam some future day
Just sends me back my son.
—Exchange.
Si
OUR NEW LOCATION
COR. TRADE AND MINT—OPPOSITE POSTOFFICE ^
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SELWYN CUT RATE DRUG STORE
DISTINCTIVE FOUNTAIN SERVICE
Prescriptions Filled By Registered Pharmacists
AVANT
COAL
tfOKB
. OQAB
FLY A BOMB TO BERLIN—PUT
10 PERCENT OF PAY IN WAR
BONDS.
PATRONIZE THOSE
WHO ADVERTISE IN
THE JOURNAL
REX
RECREATION
AND BOWLING ALLEY
Where Union Men Meet
T«' Round Air Conditioned
125-127 S. TRYON ST
1 1 111 1 ■ L
MODEL LAUNDRY CO„ INC.
THE MODEL OF PERFECTION
Laundry—518 W. 5th St Phone 3-9011
Branch Offices:
747 Providence Rd. 207 E. Park Rd. 2701 Tuckaaeegee Rd.
MODEL-TONE DRY CLEANING