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Show Levy Affects Every Individual and Business Concern in United States. WASHINGTON, Sept. 2. The new revenue bill with a levy affecting every individual and business concern in the country, was approved unanimously unani-mously today by the house ways and means committee. Chairman Kitchln will Introduce It in the house tomorrow tomor-row and ask for consideration Frldaj. Leaders hope to send it lo the senate within ten clays after debate begins. The final committee estimate of the revenue to be yielded under the new bill is $S,012,792,000, as against $3,9-11. 633,000 last year, under the present law. Tho largest source of estimated revenue is from taxes on excess profits including war profits ?3, 100,000,000 and the next is from taxes-on incomes ?1,482,1S6,000 from individuals and ?828,000,000 from corporations. The increase in the taxes on the specified Incomes of married persons without dependents is shown by the following table: Incomes. Tax Under Ex Proposed isting Law. Tax. $ 2,500 ? 10 $ U0 3,000 20 GO 3,500 ,J .: 30 90 4,000 f ' ' -10 " 12Q 1,500 CO 150 5,000 - SO . ISO 5,500 105 220 G.000 130 260 G.500 330 7,000 e. -nso 100 7.500 - V205 470 8,000 ' ,f; 235 545 S.500 , r, . 2G5 620 9,000 : 295 G95 9,500 325 770 10,000 355 S45 12,500 d, - 530 3,320 15,000 ; 730 1,795 iu.uuu ...v-i.-iou -,oyo 25,000 -4 1,780 4,245 30.000 . 2.3S0 5,595 35,000 ;j 2.9S0 7,195 40,000 4 3.5S0 S.795 45.000 ' '4.3S0 10,645 50,000 - 5,180 . 12,495 55,000 ' y 5,980 11,695 60,000 ' ' G.7S0 16.895 70,000 r. 8.880 . 21.895 80,000 10,980 27,295 100,000 .-" 16,1S0 39,095 150,000 s 31.6S0 70,095 20,0.000 49,180 101,095 300,000 92.6S0 165,095 500,000 192,680 297.093 1,000,000 475,180 647,095 5,000.000 3.140,180 3.527,095 Exemptions Under New Bill. The exemptions under the new bill are the same as under the old. ?1000 for single persons and $2000 for married mar-ried persons with $200 additional allowed al-lowed for each dependent child under eighteen years old. An exemption of $200. for each dependent incapable of selfsupport because of mental or physical phy-sical disability also is allowed. Tho estimated yield from sources other than incomes nnd excess and war profits include: Transportation: Freight $75,000,000; express $20,000,000; passenger, fares $60,000,000; seats and berths $5,000,-000; $5,000,-000; oil by pipe lines $4,550,000. Telegraph and telephone messages $16,000,000; insurance $12,000,000; admissions ad-missions (theaters, circuses, etc.,) $100,000,000; club dues $9,000,000. Excise taxes: Automobiles, etc., $123,750,000; jewelry, sporting goods, etc., $S0,000.000; other taxes on luxuries luxur-ies at 10 per cent, $S8,760',000; other taxes on luxuries (apparel, etc., above certain prescribed prices) at 20 per cent. $181,095,00U. Gasoline $40,000,000; yachts and pleasure boats $1,000,000. Beverages (liquors and soft drings; $1,137,600,000; stamp taxes $32,000,-000; $32,000,-000; tobacco, cigars $61,364,000; cigarettes ciga-rettes $165,240,000; tobacco $104,000,-000; $104,000,-000; snuff $9,100,000; papers and tubes $1,500,000. Special Taxes Capital stock $70,000,000; brokers $1,765,000; theatres, etc., $2,143,000; mail order sales $5,000,000; bowling-alleys, bowling-alleys, billiard and pool tables $2,200,-000; $2,200,-000; shooting galleries $400,000; riding rid-ing academies $50,000; business license li-cense tax $10,000,000; manufacturers of tobacco $69,000; manufacturers of cigars $850,000; manufacturers of cigarettes cig-arettes $240,000; use of automobiles The report, which will be made public pub-lic tomorrow by Chairman Kitchln ! explained the provisions of the bill in j detail. It said the committee determined deter-mined what proportion of the cost of the war this year should be financed by taxation and by bonds, not from previous experience ir- there was no analogy in history, but upon thorough consideration of the effect on the morale mor-ale of the people, upon price inflation, upon production and upon relative ability of the people to pay taxes now and after the war. The committee explained that it had decided upon tho raising of $8,000,000,-000 $8,000,000,-000 by taxation because it had accepted accept-ed as a sound fiscal policy the recommendation recom-mendation of SecreLtry McAdoo that one-third of the government's estimated esti-mated expenditures of $21,000,000,000 this year be obtained from this source and the remaining two-thirds by bonds. No Fixed Policy adopted "While the committee," the report added, "makes this recommendation for the current year it realizes that no fixed policy as to relation of taxes to bonds for' the future can be determined deter-mined at this time and that the amount that would be raised by taxation in any given year must necessarily bo determined after due consideration is given business and financial conditions condi-tions existing In such year. The committee com-mittee further adopted the policy that so far as practicable the $8,000,000,0u0 should be raised from taxes on incomes, in-comes, excess and war profits and luxuries lux-uries and semi-luxuries. The committee com-mittee has endeavored to distribute I equitably the new tax burden and to levy the taxes In sucha way that the burden should bo met by those most able to pay. It has endeavored to wipe out all inequalities in the operation opera-tion of existing internal revenue laws so far as deemed practicable will be In one act and thereforo more readily accessible to the taxpayers." The report s'aid that the bill on all citizens or residents of the United States a normal tax of twelve per cent upon the amount of Income in excess of exemptions except that on tho first $4,000 of the taxable amount the rate shall bo six per cenL The' measure I also increases the surtaxes all alon- 1 t the line. 6 There is no reference to the im- h minencc of prohibition legislation la V what the report said about the bey- erage lax. Somo new administrative i S; provisions are imposed in liquor. In- M eluding elimination of every exemp. 2 tion such as the present law'provlsion 1 1 that retail liquor dealers may hold fif. 0 ty gallons of distilled spirits and twen. ty-five gallons of wines froe from the ' ; floor tax. i The tobacco rates, the report said, ( are fixed at approximately the high ! ? est revenue producing rates that can ' I safely be levied without greatly re tluced consumption of ' tobacco and consequent reduction in revenue. : So far as practicable the committee 1 I has placed the excise taxes upon the , manufacturer, producer or importer. In the second group of articles regarded re-garded as a luxury when sold over a fixed price, the committee believed that these taxes should be paid by the consumer and collected by the retailer. " I oo |