McCormick messenger. (McCormick, S.C.) 1902-current, June 17, 1943, Image 2
*
McCORMICK MESSENGER, McCORMICK, SOUTH CAROLINA Thursday, June 17, 1943
VcCORMICK MESSENGER
Pvbllstaed Every Thursday
| Bstablished June f, ItM
EDMOND J. McCRACKEN,
* Editor and Owner
Entered at the Post Office at Mc
Cormick, S. C. t as mail matter ot
the second class.
. SUBSCRIPTION RATES:
One Year $1.00
Six Months .75
Three Months.50 •
Six Inch Sermon
REV. ROBERT H. HARPER
John Describes True Christians.
Lesson for June 20: I John 2:1-
€; 3:13-18; 4:15-17.
Golden Text: I John 1:7.
Passing from Peter to John, we
find the latter giving the marks
ef true Christians. His first ex
hortation indicates that Chris-
ffans should not sin. They may
de saved and kept from sin
through the propitiation which
Jesus makes.
Christians confirm that they
truly know Jesus if they keep his
ommpandhients. We learn of
Jesus when we learn to do his
will. Gifts of service or else
rftould be appropriate. But they
wf» do not keep the command
ments of Jesus do not know him,
laowever much they may claim.
The ill-will of the world may
Me expected, but Chrsitians must
love where others hate, and in
tS&efr love they may find assur-
aoee that they have passed from
death unto life. They may know
•f their own love if, like their
lord, they are willing to give
tilielr lives for others. Love is
iaw$ found in mere profession,
but in “deed and truth.”
When confession in Christ is
xfticere, Christians abide in Gotf.
f>"d he abides in them. And in
flds blessed relation, love will be
made perfect.
Two things are emphasized in
«lie lesson—the necessity of sin
cere love, with its service to the
seedy and its loyalty to Jesus,
uu€ the assurance of love that
•ne who loves is indeed a Chris-
fftin. Let us seek to bear the
4»stfhguishing marks of a Chris
tian, that love may be made per
fect in us.
‘Pay As You Go’
Tax Is Effective
July 1st
20 PER CENT OF YOUR PAY TO
BE WITHHELD AS IN
COME LEVY
EXEMPTIONS WILL TRIM
ACTUAL DEDUCTION
The modified Ruml income tax
act, known as “pay-as-you-go,”
will go into effect July 1. After
that date, one-fifth of every
worker’s pay, after certain al
lowances, will be taken out by
his employer, and sent to the fed
eral tax collector. This is the
“withholding” provision, by which
everyone pays his taxes in the
year in which he earns the taxa
ble income. He pays 1943 taxes
in 1943, that is.
The other important part of
the new act is the so-called “for
giveness” of the tax on the 1942
—last year’s—income. In the o-
riginal Ruml bill, complete cross
ing off of the 1942 tax was in-
j tended, but as finally passed by
j both houses, the “forgiveness”
i amounts to about three-fourths of
last year’s bill, for most people.
Farmers do not pay the 20
per cent weekly tax as such.
The law says that if 80 per
cent of your gross income
comes from farming, you will
file an estimate of your taxa
ble income for 1943, on De
cember 15, and make a pay
ment based on this estimate.
Then, on March 15, 1944, you
will send in a corrected re
port of taxable income, and
an adjusted payment. If your
estimate is in error, that is
to® low, by more than one-
third of your corrected in
come figure, you must pay
6 per cent penalty on the a-
mount of error.
Agricultural workers, household
help, and people irregularly em
ployed, are exceptions also. These
workers file estimates of 1943
income on September 15, this
year. In future years the date
will be March 15. The tax will
be paid quarterly. Most high
salaried persons come under this
provision, too. All within this
group do not have the 29 per
cent weekly withheld from their
earnings, but pay on their in
come the following year, as every
one did up to now.
For people earning regular
wages or salaries then, the new
tax will operate this way:
Twenty per cent of your earn
ings will be withheld every week,
after deductions for allowances.
These allowances are: The first $12
of weekly paycheck is not taxable
if you are single. If you are mar
ried, the first $24 is exempt; ' and
six dollars is added to exemption
for every child or other dependent.
On whatever sum is left after
subtracting these exemptions, the
empioyer must withhold 20 per
cent for the Bureau of Internal
Revenue.
Other groups excluded from
the withholding ^provision are
self-employed men and women,
members of the armed forces,
doctors, lawyers, ministers., and
other independent professional
workers. High salaried corpora
tion officers, government workers,
and similar employees, however,
are subject to the 20 per cent
withholding tax.
The “forgiveness” part of
the bill is confusing in detail,
but the principle is fairly
simple. The wording of the
bill says that the tax for
either “1942 or 1943, which
ever is lower,” is the year
that will be forgiven in large
part. As before stated, in
most cases, 75 per cent is
wiper out.
Just how much will be cancell
ed, depends on the size of your
tax. If it was $50 or less in
1942, all of it is forgiven. If it
was between $50 and $66.67, then
$50 of it is cancelled. If it was
more than $66.67 then 75 per
cent of the tax is forgotten.
Criticism has arisen concerning
certain alleged inequalities under
this scale.
The remaining 25 per cent of
your tax must be paid. Accord
ing to the law, one-half of the
25 per cent owed shall be paid
by March 15, 1944, and tne re
maining half by March 15, 1945.
Contrary to the belief of many
people, the first quarterly install
ment on the 1942 tax, paid last
March 15, will be credited on this
year’s, 1943, taxes, in order to
put everyone on a current, or
“pay-as-you-go,” footing. The
remnant of the 1942 tax, the 25
per cent, is carried forward, still
Will It Be Another ‘Too Little and Too Late’?
iv
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Allies
saaBEZ
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HAZA
QWeWT
Mac ARTHUR
YJmgm, ya BETTBR VlOt/FSS
CALL OFF YBR PATE A CO-
WITH WMILLED
/ HELLO,MRS. MtLLER?....MR. HAZARD
U//LL BEUHABLE TO ACCOMPANY
ME TO YOUR ER1D6E PARTY
TONIGHT Y-A-A SEE
HE DlCCOVEIPED JUNIOR
HAD NEW ROLLER SKATEG.
r
WHAT MAE HIE DISCOVERING
JUNIOR'S ROLLER SKATES GOT J
TO DO WITH MY FRIDGE PARTY?)A
r
CIVILIAN DEFENSE
COMMUNICATIONS
CONSTRUCTION
DOCTORS
ELECTRIC POWER
ENGINEERING
ESSENTIAL WORKERS
FARM SUPPLIES
FARM VETERINARIANS
HIGHWAY MAINTENANCE
INDUSTRIAL MANAGERS
INDUSTRIAL WORKERS
LUMBER CAMPS
MACHINERY
MEAT PACKERS
MEDICAL
t SUPPLIES
MINES
OIL WELLS
POLICE CARS
PUBLIC HEALTH
PUBLIC SAFETY
RED CROSS
ACTIVITIES
SCHOOLS
SHIPYARDS
SURGEONS
TECHNICIANS
VITAL SUPPLIES
WAR PLANTS
.. . and many other trades, businesses and profes
sions whose products and services are important to*
the war effort
★ BUY ★
★ ★
★ U. S. WAR BONDS *
★ AND STAMPS *
HIS SKILL helps to maintain the cars which carry mil
lions of war workers to and from their jobs, day after day.
HIS EXPERIENCE helps to preserve the trucks which
carry vital materials to and from war plants building
arms and equipment for our fighting men.
HIS SERVICE hel ps to conserve the cars and trucksofh ard-
working farmers who are feeding America and her allies.
SEE YOUR LOCAL
CHEVROLET DEALER
SERVICE ON ALL MAKKS“(1lP TTtR§ AND TRUCKS
°n.
f-_l
\V
McGrath motor go
McCORMICK, S. C
unpaid.
In a few special cases, where
the 1942 income was very high,
(called “windfall income” result
ing from war contracts generally)
the taxpayer will not be able to
get on a current basis until 1948,
or possibly 1949. It is also point
ed out by fiscal experts, that
there will be no year in which
taxpayers escape paying taxes.
Other requirements under the
new bill are: You must pay
your June 15 installment. This
payment and the ones you made
last March will be added togeth
er and applied to your 1943 tax
bill. (Or as explained before, tc
your 1942 income, if it was high
er.)
Also it must be remembered, the
20 per rent weekly held out of
your 1 pay, may not entirely take
care of your tax liability. You maj
have other income, or there ma;
be some other reason why you
would have to pay more than the
20 per cent deducted.
Higher Taxes Than Ever
It is also pointed out. that you
will probably pay higher taxes
during the next two years, at least,
than you ever before did, despite
the relief of the cancellation of
75 per cent or more of your bill,
for one year. This is because of
the higher rate of taxation—
higher than ever before in our
history.
You must continue to file a re
port on income, at least once a
year, as before, even though you
may not owe anything, after con
sidering the withholding tax you
have been paying. If your in
come is less than $2,700 net if
single and $3,500 if married, the
withholding tax will probably take
care of all you owe.
‘Pay As You Go.’
The purpose of the new tax law
has been stated by its proponents
as a method of putting everyone
on a current, or “pay-as-you-go”
basis. Thus, as originally intend
ed, the new tax law would abolish
all indebtedness to the govern
ment, in most cases. As modified,
this has net been entirely ac
complished, but it has been sub
stantially achieved.
Another intention is to ease the
strain of large payments now
necessary. It has been contend
ed that many tax payers are not
| able to save up enough during a
year to pay their taxes in lump
! sums during the next year, even
i with the four installment sys
tem. By taking the tax out ev
ery week, the wage earner ad
justs his living costs to the lower
income, and thereby pays his tax
off gradually, with less difficulty.
At present, many people have had
to borrow, often at high interest
rates, to meet their payments,
say the proponents of the “pay-
as-you-go” act.
Because of the immense cost of
the war, every dollar of revenue
that can must be collected, ac
cording to treasury officials. To
help avoid inflationary dangers,
as much money as possible must
be raised by taxation, they state.
Hope to Raise 16 Billions.
The treasury officials hope to
raise about 16 billion dollars of
additional revenue in 1943, largely
from income taxes. Opinion in
congress is that this sum is too
high and that ten billions is
probably the largest sum possi
ble, unless tax rates are much in
creased. For vari®us reasons, in
formed opinion believes that the
rates will not be raised much.
if any more.
Income taxes will yield around
25 billion dollars in 1943, treasury
officials anticipate, or more than
twice the 11 billions collected in
1942. Other taxes will yield a-
bout seven billions, or at about
the same level as last year.
NOTICE OF TAX SALE
Under and by virtue of a war
rant issued to me by the County
Treasurer of McCormick County,
I have seized the following de
scribed property to satisfy the
taxes due the State of South Car
olina and the County of McCor- "
mick. for -the years 1938.1939,1940.
1941 and 1942, and the same will
be sold to the highest bidder for
cash on salesday in July, 1913,
during the legal hours of sale in
front of the Court House Door
at McCormick, South Carolina,
and the proceeds of the sale will
be applied to the payment of the
said taxes and the cost of said
seizure and sale, to wit:
The property of J. L. Wells, and
is described as follows:
All that lot or parcel of land
situated in the Town of Plum
Branch. County of McCormick,
State of South Carolina, contain
ing 4 1-4 acres, more or less,
known as Dr. J. B. Adams’ house 1
and lot. Bounded by Cottage and
Jefferson Streets; lands of Mrs.
Sallie A. White, Peoples Bank and.
J. L. Bracknell, and probably
others.
MRS. RUTH O. FOOSHE,
Tax Collector for McCormick
County.
McCormick. S. C.,
June 15, 1943 —3t.
INSURANCE
Fire Insurance And All
Other Kinds of Insurance In*
eluding Life Insurance.
—— ,ri
HUGH C. BROWN,
McCORMICK, S. C. "J