| Show l AX I I BIlL J S 'S Sl l. MULTITUDES OF JiS E CHANGES H HIN IN 7 11 IJ lJ y 2 1 t k Can t T r Vill C Cost st Less i Rugs R g Mor More HI High High HIS S Spots Spot otsA t A I Pointed d Out r S t l l f. f I 1 I Ir x ld ii s D B y H HARRY H HUNT SHI ON Sept ept 5 Its s Its It's going KOlne- V. V to bo o ch cheaper J r to to scrub your our te teeth t once the Republicans get their n new nV newt V t t l N bill enacted emitted than It was was was' I 7 when th the P re In n p power vcr v il ilso Alno Also so lt nJ will cost cost less to lOI decorate your yc J. J homo home homo with with art are a art bronzes or ary or to to buy S Sonny that base baso- u h bat at and glove glo c And take wife j And every time you ou your our I r o or sweetheart etheart a a. pound five d b box ox 0 of oft t II chocolates h s' s you'll be a n. whole dime h ahead di If It th tho confectioner pla plays 3 square ht you and nd gives you the benefit I Or of th the 2 2 cents per pound tax 2 U n ot of of trio tho new tow law t S SPENDERS PENDERS SAVE j r f An ri analysis of ot tho the new revenue f bill In to n tho the form torm in which it was was was' p passed d b by tho the house shows that tho bigger Bp spender you have been th the I. I bigger r savings you OU may be to ablo-to ablo ablo- to f make under the new t tax x schedules I If youve you've been living lI cl close se to the theline theline line tine holding ln down on tho the number of ot r Ic Ice cream sodas and nd the amount of candy cindy you consume denying your wife fancy flummeries and cosmetics traveling traveling trav trav- l eling cling little and puffing putting your pipe In I shirt sleeves elec instead tend of ot a smoking Jacket jack t. t the he bill holds only one relief J I for you That Is s sIf I If you have a R. big family you'll get I a n exemption on each child for tor f 1 Income tax purposes Instead of ot II j I jas as I allowed by th the law MILLIONAIRES BENEFIT On On the ot other ler hand while white the new taxi t tax i schedules will save sava you that two two- cent tax on your o r week weekly lee Ice cream soda and 2 cents cents' on on each pound of ot I I candy 1 uly not o to mention tax tax free t tooth tooth oth J paste juste and lip Up sticks stickS' the assessment of f J John hn D D. and other gentlemen with Incomes above th the tho million dollar mark will wm be reduced on each milI mil mil- i r lion n of t nei taxation Tho The average citizen however with Income of ot from rom 1000 to a a 3 year will feel teet some relief relict under the he provisions provisions provisions pro pro- I visions of ot the law as passed b by the house I 1 r Taking Income taxes first the new I Jaw w Increases the exemption of tot the head of a n. family from 2000 to 2500 I where the net t taxable Income is less than per year Where here tho the net Income Is or more the t nn on as head of t as a fatally family remains at 2000 CHILD EXEMPTIONS Tho The Tho exemption for each dependent child under 18 18 or for tor such uch other person totally dependent upon the tho head he of or tho family Is In Increased from J 2 Q to With these exceptions the tho income tax law In av remains unchanged for tor the theA A taxpayer on to Lo Income But If It you aro arc ono one of ot the tho super- super taxpayers with a n net t Income exceeding exceed exceed- I In ing rig n- you will be more Interested Interested interested Inter Inter- ested In the amendment which strikes out ont all tall i higher surtaxes than the tho 32 1 I per per percent cent fixed for tor income above that I amount I President Harding and jud Judges cs of ot tho the supreme and Inferior InterIor courts are relieved from any tax on their fed fed- salaries 5 Officers In the army and navy however ever who have been allowed exemption up to are arc returned to the status of ot the ordinary civilian d CORPORATION CORPORATION TAXES Corporation income taxes are aro amended to provide pro a tax of ot 12 12 I per cen cent Instead of or 10 per cent on net income effective c in do 1922 d f The graduated excess profits tax on I corporations ons is repealed effective January 1 1 1 1922 I Taxes on Insurance companies are arc tJ fixed d at 12 per cent of ot their net nett t Income be beginning with 1922 instead j of ot a l tax of or 8 cents on on each of ot insurance e written and 1 for tor each I I 1000 of ot surplus ariel arid r reserves serves i The transportation tax of ot 8 per percent percent cent ent on passenger r business and 5 per percent percent percent I cent on frel freight ht is Is repealed effective January 1 1 1922 I TAXES REPEALED Ol Of the the excise taxes those on soft sort I drinks and Ice cream considered ob- ob obI ohI I 1 because so obtrusive are re repealed pealed The tax tax tax-on on candy Is reduced from tram 5 b cc cents ts to 3 cents a po pound n I Taxes on sporting goods are reduced reduce re- re duce l from 10 SO 10 to r fi per cent Art goods are arc ns assessed at 5 fj per percent percent I C cent nt Instead of or 10 per cent and tho the rate on the major Items Hems In tho excise list scaled down I While th the rate o on orl yachts Js Is re reduced re re- 1 from 10 5 1 to per cent however wc I ia a luxury tax Is placed on many articles arti artl cles etes be beginning at figures considerably 1 lower than those now In force torce For Por Instance the tax will go o on c carpets and rugs at a a. value of ot p. p per r square yard ard Instead of or 5 on I umbrellas at nt 2 CO Instead of ot 1 4 on grips at 15 Instead of or 25 etc I However Howe It is altogether too soon Boon to attempt to compute ho how w much you w will n have havo to pay Undo Sam In taxes under udder the new bill but For tho lh senate has not had Us sa say p as yet tet and the bill bIB that emerges from the s senate nat I m mill mIl U mn may p differ radically from tram that passed b by p the house I |
