Magazine content is available exclusively for TIME subscribers.TAXATION: Four And No More
Moving swiftly and smoothly ahead with the revenue provisions of its billion-dollar tax bill, the Senate last week:
¶ Rejected (49-to-31) "soak-the-rich" wartime normal and surtax income rates.
¶ Squelched a one-man filibuster by Louisiana's obstreperous Long.
¶ Approved the Finance Committees normal (3%, 6%, 9%) and surtax (45% maximum) income rates.
¶ Approved an increase in the corporation tax to 14%.
¶ Approved an income tax on the salaries of future Presidents and Federal judges.*
¶ Rejected (61-to-24) an amendment by Maryland's Tydings to legalize 2.75% beer and tax it for a relief program of public...
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