Show PROPOSE INCREASE IN INTERNAL TAXES SECRETARY mcadoo WOULD I 1 IN N CREASE TAXATION ON UAL UALAND AND CORPORATE INCOME oppose opposes issuance of bond bonds to meet first year years expenses of national defense Program Would keep emergency tax and sugar duty wash washington ington in increases creases in internal taxation rather than issuance of bonds to meet the fina years expenses ot of the administrations defense program are advocated by secretary mcadoo of the treasury in a formal statement issued thursday night giving an estimate of ff the federal governments reve and expenditures up to the end of the fiscal year beginning next july assuming that congress will con dinue in effect the present emergency tax law and customs duty on sugar the sec secretary y estimates that in additional rev reve enu nuo will be need ed for the expenditures for 1917 including for new measures measures for national defense this amount says the statement can easily be raised by internal taxation without appreciable burdens upon the american people mr air mcadoo suggests a reduction in the income tax law exemption on sin gle persons from 3 to 2000 and on married persons from to 3 changes in the surtax imposed on incomes above a certain figure and new taxes on gasoline crude and re fined oils horsepower of automobiles other internal combustion engines and various other things |