Word: pay-as-you-go
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...Turned thumbs down on Beardsley Ruml's popular pay-as-you-go tax plan (see p. 12), although in his annual budget message he asked Congress "to put our taxes as far as feasible on a pay-as-you-go basis...
...committee plan called for a general 20% withholding tax starting July 1. For the great majority of citizens, paying their 1942 taxes this year on the installment plan, the withholding tax would merely apply against the installments due in September and December. The only pay-as-you-go feature: taxpayers would be "permitted" to get on a current basis by paying their 1942 taxes in full by July-if they could afford...
...Inspiration. The House Republicans had a sudden inspiration. The Democratic-controlled Ways & Means Committee had fumbled the tax job. Minority Leader Joe Martin called a conference of twelve Republican steering committee members. Their strategy: grab the tax bill when it reaches the House floor, substitute pay-as-you-go reduced to its simplest terms, in a modified version of the Ruml plan. Sense as well as strategy was on their side, for many a disgusted Democrat would not vote for the committee bill. The possibility was not remote that the House might overturn its no-longer-august tax-making committee...
...same way the local group will take up subjects of current interest and in the future will discuss the Beveridge Plan, the Ruml Pay-As-You-Go Plan, Lend-Lease, Rickenbacker's attack on American labor, and other timely matters...
With committee tempers frayed, bluff Chairman Robert L. ("Muley") Doughton resorted to an old Washington device: he appointed a subcommittee to draft a compromise. What worried Muley Doughton most, however, was that U.S. citizens, looking toward pay-as-you-go as a sensible improvement in taxation methods, were not filing their 1943 returns with anything like the alacrity they showed last year. He warned taxpayers that the March 15 installment would be due this year, as in all previous years. Best estimate was that not until after the June 15 payment would tax collections be put on a current-income...