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THE PHYSICIAN'S FEDERAL INCOME TAX-1943
PREPARED BY THE BUREAU OF LEGAL MEDICINE AND LEGISLATIONThe Revenue Act of 1942 has been correctly described as the greatest revenue raising measure in the history of our country and finds its justification in the tremendous needs of our war program, needs having to do with the actual expenditures for war purposes plus needs in relation to inflation potentialities. The act not only will spiral the tax burden of prior taxpayers but will bring into the income tax picture many millions of persons whose low income has heretofore constituted exempt income. Already plans are under way for additional legislation to raise still more revenue, and the tax burden may reasonably be expected to assume even greater proportions.During the time when the new act was being formulated by congressional committees and when it was being discussed first in the House and in the Senate,
ORGANIZATION SECTION. JAMA. 1943;121(5):353-361. doi:10.1001/jama.1943.02840050051018