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Withholding Taxes From Paychecks Began - June 9

  • 2016 9 Jun
  • COMMENTS
Withholding Taxes From Paychecks Began - June 9

 

Withholding taxes from people's paychecks began JUNE 9, 1943. Congress passed it as an emergency measure to get money to fight Hitler. The idea came from Beardsley Ruml, treasurer of Macy's and chairman of New York's Federal Reserve Bank. He called it the "pay-as-you-go" tax. So much money came in with so few complaints that it continued after the war. President John F. Kennedy, April 20, 1961, stated to Congress: "Introduced during the war when the income tax was extended to millions of new taxpayers, the wage-withholding system has been one of the most important and successful advances in our tax system in recent times. Initial difficulties were quickly overcome, and the new system helped the taxpayer no less than the tax collector." But Americans weren't always taxed so much. In a Veto Message to Congress, May 27, 1830, President Andrew Jackson stated: "Through the favor of an overruling and indulgent Providence our country is blessed with general prosperity and our citizens exempted from the pressure of taxation, which other less favored portions of the human family are obliged to bear."


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