Earned Incomes

"Already taxes have been restored to a peacetime level. . . . This is progress in the right direction. There is still much more that can be done . . . when revenues show sufficient permanent increase. There is a growing demand for a further reduction in taxes on earned incomes . . . with which I have always been in sympathy as is evidenced by the recommendations the Treasury made to Congress. . . . The Treasury is still of this opinion and will be glad to see these principles [of tax reduction] still further carried into law whenever revenues justify such action."

Thus spoke, last week, Secretary of the Treasury Andrew William Mellon over the radio from Washington. Conjured up by his hopeful words the heart of many a wage-earner and professional man leaped with joy.