Show I. I Features Feat of Measure Outlining Great Taxation Program of Country in 1919 I o e revenue hill now before Conies Con Con- Con I I. I ies s. s provides the following Estimated revenue from Income ex- ex r rf s f profits excise luxury and end inc ace c. c taxes for tor 1910 will Trill approximate fc 00 he h. h reduction of or un- un B estimAte in the tho HOU O bill will bo be br y r lowering and tin ting certain taxes tn on luxuries and andU U 4 and by cor- cor TAto rate excess profits taxes S I cor-I Income taxes remain J ally ally as 11 fixed in to the bill I fine ho single le man Is ex exempt on 1000 I oma omo Tax rate on his taxable ini in- in i me ie up sip to In I. s 6 per POI cent On Ont t dbl able abl Incomes above bove basic basica a 12 per cent cont Married men are exempt on on 2000 In In- In me me plus for each dependent 0 On Or 1 lx ablo able blo Incomes up to the basic basica fi a o will bo be C per pcr cent cant above 1 12 Y der 1 r cent begin when whon the taxable Ino In- In n mo me o amounts to t ho h surtax Is 1 per cent on incomes Income s tween and 2 per por cent cen t 9 to 3 per cent on o os or 1 per cent additional 1 on onich s l lick ich 2000 of Income until 48 per cent Ich ch Is the surtax on incomes bo- bo teen freen and On taxable incomes above 0 I 70 la a surtax x increases rapidly up to 65 er erf er cent cont on incomes In n excess of ot 1 1 OOOO on which the Income tax mes Imes to This Is works out on incomes of ot marC mar- mar dand C and tingle single men up to as newts mows t 2 to toA A y 0 hd 1 05 3 t lg o o 1 D 0 t O j 0 H r rn rn 2 3 l 2 e e. e n e. e p j V n 1 1 A n 1 I V a aV x J 0 0 0 0 G GO 0 I 1 6 0 1 O GO co C 6 0 1000 1 12 0 H 0 G 0 O O 12 1 1 12 Z 2 no 12 3 1190 1070 OO 12 4 1510 1390 OO 1 12 Ci 6 1850 1730 12 G 6 2210 2090 12 7 2590 2690 2170 2470 zt 70 Oi 12 S 8 2990 2900 2570 The The basic tax rate on corporations I Ills b by 12 per cent on net Incomes In excess of ot certain stipulated deduc deduc- h om Il 1919 the basic rate will be bo re reduced reduced re- re from 12 to S 8 per pcr cent As to excess profits taxes Excess profits taxes of ot corporations will figure figuro guro as os follows follows- 1 30 per POI cent on net not income in ox- ox ex excess excess cess of ot permitted credits and deductions deductions deductions deduc deduc- provided this net In income omo is not moro more than 20 O per cent of the corporations corporation's corporations corporation's corpora corpora- tion's Uon's ini Invested ested capital 2 zI CO GO per cent of net income in excess of or 20 per pcr cent cant of ot Invested 1 capital This year 19 1919 the 30 0 per cent above v n ll 11 bo be cut to 20 per cent and the GO 60 per Fier cent to 40 O pc per cOlit while the the- amount figured d on tho the SO per cent basis will bo be o eliminated 1 entirely Credits allowed 1 to corporations In- In a n. general ral exemption of ot net Income also an nn amount equal to the average not for tor the prewar po- po 10 1 |