Show THE SALT LAKE TRIBUNE SUNDAY MORNING New Tax Plan Strikes Senate Tax Plan Utahn Promises To Vote Against Would Hit Even At Low Incomes Cuts Relief Clients Impost Measure Scale of Exemptions Single on ‘Security’ King Attacks Measure Man Changes Would Increase Amounts Levied Even on Smallest Payer Revision May Imperil I'nwise Burden to Wage of $94 Monthly Made Liable Business the WASHINGTON Aug 10- -In By Tribune Leased Wire WASHINGTON Aug 10— If the finance committee today Senator senate finance committee's proKing of Utah told his colleagues posed dip into the lower income brackets should become law it he is wholly out of sympathy with would create an anomalous aitua- - the pending tax bill and Intends to tion whereby ome of the persons it when it g0M before t on relief would be turning relief th ge‘ate the to back government inj money in of am 0 d 0 he the form of income Ux new time“ Sen A single man on relief for In-- 1 stance? earning a monthly security ator King told the committee "The bill passed by the house will rais wage of $94 as some do would have WASHINGTON Aug 10 (AP) an income of $1128 a year Since only 250 millions: it will not pay - Here is the new estate tax $SOO would be exempted he th deficit or make a heavy den' si hedule approved today by the only it " 'll merely avoid borrow-would have to pay the government senate finanre committee in lieu on the basis of a net income of $328 jnK ’6 million dollars of the inheritance taxes approved Thus at 4 per cent his income tax "I feel" said the senator '"that by the house: would be $1312 assuming that he at this time after business had no deductions or exemptions al been languishing and is just getting its feet the imposition of new taxes lowable as these would be unwise Even under present tax law where a single person’s exemption Enactment of this law will tend to( Is $1000 some few relief recipients retard business This tax would fall mostly on corporations and eswould be liable for Income tax work-relitates That would mean the deSingle persons on federal projects holding over fro® struction of capital invested in goP A program would if ing enterprises the pre-If we are honest their aggregate gross income were in gov ernment and trying to 'balance more than $800 also be required the budget we should increase to pay federal Income tax under taxes a little later after business the senate measure has had time more fully to recover Married persons would not be af"The greater the of busifected by the proposed change ness the more taxes profits it will pay and since their exemptions would bring the more will be able to rethem down from $2500 to only $2000 turn to people In employment steady and no relief clients receive as view of the heavy state taxes vc much as $2000 to wait urttil business has The new tax procedure would af- ought For the present busifect only federal employes SJsh as expanded those on W P A jobs ThosF'Vh° ness should be allowed to use its to expand Next year we y profits may earn above $800 on state relief jobs would not be taxd lean levy a comprehensive tax that $40000 Exemption— will raise far more than can be by the federal government but would be subject to the income hoped for under this bill and bv tax laws of their respective states sodoing we (oan make an honest mpve toward balancing the budget where such laws exist “I have not been in harmony with the president on this tax question and have told him so but the senate will follow his lead on this question I think it will be a mistake and WASHINGTON Aug 10 UP)-shall vote my convictions” senate finance committee vote The annual outing of Le Grand against the house inheritance taxes L D S ward will be held Wedneswas 11 to 8 day at 3 p m at Liberty park The following senators voted under the direction of the ward against them: King Georfe Walsh bishopric Gore Bailey Byrd Lonergan and The program for the afternoon Gerry Democrats Keyes Metcalf will consist of sports events foland Hastings Republicans lowed' by the awarding of prizes for These senators favored therp: the oldest person in attendance the Harrison Barkley Connally Costi-ga- n largest family and to the winners of L Man in New York Black and Guffey Democrats the various contests A program La Follette Progressive and Cap- has been arranged for presentation! Say Europe Journey at the bandstand during the eveper Republican New Estate house boosted surtaxes only on incomes over $50000 In lieu of the inheritance taxes of 4 to 75 per cent approved by the house to be superimposed on existing estate rates the committee raised the estate taxes to pro- vide a lange of rates from 2 per cent on the first $10000 to 70 per on over $r0n000(0 with (vn exemption of $40000 instead of the present Tax as Fixed By Senators : -'- $00000 Goes Far Afield Existing estate taxes applying only to estates 'before they pass to heirs are levied under two schedules The first under the 1926 law' starts at 1 per cent and runs to 20 per cent and the second ranges from Both maximums 4 to 00 per cent stop at $10000000 and under the latter scale a credit of 80 per cent is allowed for state taxes in paying ihe federal levy The committee not only went far afield from the president's recommendations in the matter of incom" and inheritance taxes but defeated a graduated corporation income tax more in line with his scale and accepted the narrower range approved by the house The house corporation income taxes of 13'i per cent on $15000 and under and 14 per cent on over $15000 were accepted In lieu of Harrison’s amendment Chairman calling for rates of 12'a to 15‘a and those proposed by the president of 0 Harrison's to 16"'4 per cent amendment went down 7 to 6 The existing corporation tax is a flat 13 i with 2 per cent added for the privilege of filing consolidated re1 turns House Seale Listed Thp committee reduced the house excess profits tax rates to provide a tax of 6 per cent on profits between 10 and 15 per cent of & corporation's adjusted declared value and a rate of 12 per cent on profits over 15 per cent Whatever ineom tax was paid could be deducted before applying the excess profit levies The house scale ran Five per cent on the excess profit between 8 to 12 per cent 10 per cent on that between 12 and 16 15 per cent of that between 16 and 25 and 20 per cent on profits over 25 per cent To make up for the reductions in this schedule the committee boosted the existing catfital stock tax from $1 to $150 per $1000 and provided a corporation may fix new valuations : annually The La Follette rates were estimated to raise an additional revenue alone compared with $45000000 under the house surtaxes Harrison said the inheritance tax question was the “most delicate'1 fared by the committee He recalled the vigorous opposition to the house rates by organized business and others who contended the: were “confiscatory” and impossible to administer He said the majority of the committee felt the higher estate levies were a "better and simpler way to handle it” Although the house gift taxes on recipients a companion of the schedule was thrown out the committee raised the existing gift taxes on donors in proportion to the boosts in estate taxes No rates were announced but Harrison said they amounted to of the new estate levies The higher estate levies were estimated to bring in about the same revenue as the abandoned inheritance levies— around $93000000 Revaluation Optional In the administrative features the committee provided an executor o an estate would have the option of valuing the estate at time of death or cne year afterward At present valuations have to be taken at time 0 three-quarte- of death Senator Lonergan D Conn) said the committee approved his amendment to exempt from tile state tax proceeds up to $40000 from life insurance policies payable to specific beneficiaries and up to $50000 where they are payable to estates Final Vote Deferred At the afternoon session the com mittee completed revision of the bill but postponed a final vote until Monday so that drafting experts would have tonight and tomorrow to write the measure One of the last actions was approval of the house provision exempting from corporation income tax donation!! to charity up to per cent of the net ihcome Pre dent Roosevelt had opposed ti exemption Wednesday Adoo D Night Sessions may Cal) and customs duties Bronson Reunion Set Lemon Bronson and his children Edwin Ruthveen Bronson Clintor Doneral Bronson Wilmer Whartor Rronson Mrs Martha Annyftron son Fermi and Mrs LorcndalEliza hrth Rmnson Thompson arTll hoi' Us annual reunion Tu o'jjdy Angus ?o al 10 n m at Liberty peik i The greatest hridge in all Ai crosses (hr Yalu a Antung eon netting Manchuria with Chosen erAfr-genc- King Joins Vote Opposing House 11 1935 A LeGrand Ward Plans Outing in Liberty Park 9 New Entrance to Fish Lake Highway Change to Resort To Eliminate Present Dugway Route Under Construction Takes Off From U 24 e Near County Line Piute-Wayn- as Fate of Complete Measure (Continued from Pace One) AUGUST ’ A new entrance to Utah’s famous mountain resort at Fish lake which will eliminate the hazards of the present dugway road is now being constructed by the §tate road commission and will be ready for use this season f" U Known as the Fish lake connec- - road connecting Richfield with 24 at a cost of $27000 -tion it takes off from U 24 near This means an expenditure during e the county line and the last two years on roads leading meets the present road a mile or to Fish lake of nearly $200000 This so southwest of the lake The con- is not entirely for the benefit of nection is about four miles in Fi9h lake travelers because most length and is being built up to U S of it has been spent on U 24 and gravel standard at a cost of nearly connections and this road serves a number of communities in bpth $60000 New Route Longer Sevier and Wavne counties The new route will be longer In miles hut shorter in traveling time than the present route and will eliminate the sharp curves and heavy grades which traveler to the lake must negotiate The old road is spectacular and has served its LOS ANGELES purpose well for about 15 years Aug 10 UP -but the road commission decided Filing of a grand theft charge in a thnt-ithe interest of comfort and rather peculiar case was mwirted safe driving the new connection by the sheriff’s office today should be built James W Bayles movie eound The road commission has been technician was accused of stealing carrying Put a program of imprqve-me- a "racket” The missing racket Is on U 24 since 1933 which ex- 207 feet long— a piece of sound film cept for a stretch in Sigurd canyon on which is recorded an assortment will give the Fish lake traveler a of noises ranging from the grunting high standard gravel road right to of hogs to the squeaks of chiplake from U S 89 He can munks The map shows Ihe new Fish lake connecting road which will the leave U S 89 either at Sigurd or Bayles is charged with stealing route a and safer old faster road and provide eliminate the dugway Richfield and find good traveling the film from into Utah’s famous mountain resort The connection is now under conditions all the way as soon as studio and selling it to anconstruction and will be finishrdthis season the connection is finished other studio for $1 a foot He has been arrested near Sonora where Othfer Sections Improved he went with a film troupe Vault Defies Expert On U 24 from the Koosharem reservoir to the point where the WEST PLAINS Mo (UP)-- L Swan Roundup Held Scott Little St Louis safe expert new Fish lake connection takes off is road the LONDON this (UP) —Swans not cate being brought year worked three days and was unable Licenses to practice dentistry in to open the d steel globe up to U S gravel atandnrd at a tie figured in a novel roundup on U 24 from the Thames Six skiffs of markers Utah were granted to eight men safe In the West Plains bank The cost of about $70000 Saturday by the state board of bank borrowed money to carry on Sigurd to Hanksville through Loa embarked for the annual “swan dental examiners business until funds from federal has this year been placed on the upping” in which men capture the The newly licensed dentists are reserve banks in Springfield and federal system young and cut distinguishing marks Reuben St Louis arrived Last year the commission com- on their bills Swans belonging to Clare T Budge Logan Clark Coalville Llewellyn P Leigh pleted Improvements in Sigurd can- the king are left unmarked but his Conrad M Stutznegger and Rex D S Nielsen Ferron Wendell H Tay- yon at a cost of $24000 and also men In red coats must accompany Stutznegger Salt Lake City Harry lor and John T Westwood Provo on the Glenwood dugway on the the expedition Piute-Wayn- Film Theft Laid To Noise Expert nt 18000-poun- The Bennett Ready To Renew Work s Returns From Coast Miss Mildred Meacham of 2 East South street Mrs Taylor Parkinson of Benjamin Elsie Johnson of Berkeley Cal and Miss Edith Selin of Benjamin have just returned from a motoring trip to points of interest in California returning here by way of the Columbia River highway ning Improved Health Two Bound Over Special to The Tribune NEW YORK Aug 10- -"I am in very myjch better health today than when I left Salt Lake City1 four months ago and I expect to take up and resume all of my duties upon my return there” John E Bennett well known Salt Lake City business man said this morning in the course of an interview Mr Bennett who returned from Europe Thursday described his trip with Mrs Bennett as one of "education and pleasure” adding that "it without saying that we had a How many more persons goes WASHINGTON Q Aug 10 (A)-- A vacation” splendid subwould the the lowered senate finanre at what exemptions glance He explained that "I have been income tax schedule ject to taxes? committee A This has not yet been determeans to the average taxpayer: continuously on the streets of Salt ine mined exactly by experts but is ex- Lake City in excess of 50 years I Question: How much come is a married man without pected to run Into many thousands haven’t been off a payroll in 50 children now allowed? Q' What is the difference be- years So I think that you will agree tween the normal income tax and that I earned my vacation” Answer: $2500 Q How much would he be al- surtaxes? Reviewing his itinerary Mr BenA The normal 4 per cent tax ap- nett recalled lowed under the senate committee leaving Salt Lake City bill? plies to all income above the ex- several months ago “to join our A level The senate surtax $2000 emption son Richard who has been working Q How much more in taxes schedule would start' at 4 per cent for the L D- S church in London! of net on would that mean? the first $1000 above $3000 for two and a half years" His son A The levy on that $500 differ- income and mount to 75 per cent returned to this country with his! inence would be at 4 per cent or $20 on the excess over $5000000 of parents on Thursday come It is in addition to the 4 per How about the single man? Q In response to another question A The new schedule would re- cent normal rate Existing sur- Mr Bennett said: "We are on our duce his exemption from $1000 to taxes start at 4 per cent above $4000 way home now We expect to reach On $2000 of net income he and mount to 59 per cent above there $800 during the present month” At would pay $48 instead of $40 $1000000 the moment the Bennetts’ plans is for How the the What surtaxes?' about Q Q exemption call for them to remain in New York A The initial surtax rate would children? until next Wednesday when they inA deducFor each child a $400 apply after $3000 of net income probably will entrain direct for Salt stead of $4000 as at present That tion from net Jncome is allowed Lake City This program however would make an extra $1000 subject The senate bill would continue this is "not definite yet" Mr Bennett to surtaxes and add $40 in taxes to until the child is 20 years old The said ' a $4000 net income present law limit is 18 years Mr Bennett declined to comment on foreign and international affairs or on the domestic situation his son declaring that "father went abroad only in search of rest and a vacation you know” WASHINGTON Aug 10 (AP) — Following is the new income surtax schedule approved today by the senate finance committee compared with the house bill and existing law: Thirty-thir- d Gilbert O’Connor 20 and Hugh Osborne 26 were bound over Saturday by City Judge A H Ellett to answer in Third district court to charges of second degree burglary of the garage of Mrs Darlene Allison 1321 East South Temple street on August 4 What New Levy Plans Mean to Average Man tax-fre- Heres Table of Surtaxes Outing Will Aid Park Fund Drive Opening the drive tn raise compensation insurance funds for the completion of the work on Fairmont park Salt Lhke City's newest recreation renter the Sugarhouse Busi- ness Men’s league sponsored an outing at Saltair Saturday afternoon and evening The featured billing of the outing was a group of wrestling matches under the direction of Ray Forsberg city director of recreation and R Vcrn McCullough The program also included a number of sports events among both young people and adults followed by luncheon at the pavilion Fairmont park when completed will contain 102 acres the largest recreation center in the city Approximately 60 acres are being used for a municipal golf course Forest Dale and the remainder divided into grounds for more than 50 dif- ferent activities The work already completed at the park inrludrs the installation of a sprinkling system the construction of three lakes end the e planting nf shrubs and tr-The v uun holomrtrr ihe hr it of the solar spectrum to a millionth of a degree for st opportunity of the year to buy fabrics later! Thrifty women will slock up at these great it means money in your pocket! Get here early m Save! Hundreds of Odds and Ends! Table No 1 You’ll know this table by the crowd around it— but our advice is to come early for hundreds of desirable materials in patterns and fabrics Lengths from fast-sellin- t2 to 3 g will be sold while they last at yards each Remnant Table Ho 2 Remnant Table Ho Included are remnant to 4' from 1 yards’ Prints rayons white goods etc Grand buys ath mixed lot nf higher priced prints hroadcloths draperies and outings! Pieces up to 5 yards long to go at m each 3 A ieh Remnant Table Ho 4 Remnant Table Ho 5 I to 7 yard lengths In flaxons printed piques nets rurtaln dimities monks etoth and drspery Priced by the piece Plain rough rayon never 1 to I AS each and printed silks crepes woolens and We’re drapery seen better values! yard lengths! 78? each to 6 Yard Lengths in SUMMER SHEERS Maryeloua bargains— you’ll want them for next summer as well a this! These pieces have all been far more expensive summer fabrics! 6c to 72c markdowns to clean out this lot! We 1 have Uken drastic iy2 to Cool Yard Lengths SILKS and RAYONS 6 summery silks for many rayons In plains and prints! '? early! Look for the Remnant Price Tags-O- ile smart uses You’ll want Durable wearing several so eome tM Uj A'J JQ A Way Tickets to Savings! |