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January 30» 1942.

Mr. J. C. uazlay,
44 Avon 't'-oad,
New ftochelle, New Yorki
Dear Mr. uazlay:
Just why it is most of us write our signatures in
a way that is not always easy to decipher, I do not know, but
if I have misspelled it please attribute, it to the fact that
your hand writing is perfectly clear to me except when you
come to sign your name.
I was interested to read your letter of January
26. I am fully aware of the inequitable tax situation that
you describe and would favor any practical proposal that would
take into account war profits and gains without unduly penalizing
the fixed income groups. So far, although I have given a good
deal of thought to this and discussed it with others, including
various tax experts who have studied the matter, nothing prac­
ticable or workable has developed that would differentiate, as
you suggest.
I would not favor exempting the fixed income groups
from paying their fair share of the war costs and I would, of
course, rely upon the income tax as the most equitable method.
Many in the fixed income groups have enjoyed large incomes and
a high standard of living, whereas millions who are now employed
for the first time have gone through a long period of depriva­
tion. Nevertheless, 1 recognize the problem created for those
with small fixed incomes.
bincerely yours,

M. S. Eccles,