TIME Magazine content is available exclusively for TIME subscribers.

Current subscribers for full access. Not a TIME subscriber? .

TAXATION: House Jugglers

Before breath-bated galleries the House of Representatives last week completed its great tax-juggling act. For three exciting weeks its tossings and catchings— and droppings—had kept the legislative air alive with fur coats and chewing gum, diamond rings and matches, motor trucks and penny candy, yachts and 3¢ stamps, radios and bottled "pop." Hundred-million-dollar levies were twirled around like so many rubber balls. As in a knife-throwing exhibition, it pitched sharp imposts at individuals and industries. It juggled normal rates, surtax rates, corporation rates,...

Quotes of the Day »

RAY KELLY, New York City Police Commissioner, on the arrest of a New Jersey man in one of the nation's most baffling missing-children cases, the disappearance more than three decades ago of 6-year-old Etan Patz.
For use in rail of Articles page or Section Fronts pages. Duplicate and change name as necesssary to distinguish.