Ogden Daily Standard | 1920-01-23 | Page 2 | One per Cent Tax on All Purchases Urged

One Per Cent Tax on All Purchases Urged WASHINGTON, Jan. 23. Subslitu-1 tion of a one per cent tax on all ' mer-i chandise sold for consumption" for the existing war and excess prorits, ineur-anoe, ineur-anoe, soft-drinks, excise and stamp taxes, wns proposed by a bill introduced intro-duced by" Rep. Bacharach, Republican, New Jersey. Although the measure was said to have received the liformal approval of several members of the house ways and means committee as thi basis of revision of the revenue laws, no agreement, however, has been made for committee consideration. The one per cent tax, to be paid by the consumer, would apply to all purchases pur-chases ranging from fifty cents to ! $500, and be increased to five per cent for purchases over $500. In addition the Bacharach bill would place a tax of one-hnlf of one per cent on all real . estate sales and of one per cent on sales of raw materials, such as products prod-ucts of mines, wood lands, waters and other natural resources. Representative Bacharach estimated estimat-ed that his bill would raise three to( four billion doll!rs of revenue annually) land repeal taxes amounting to about i itwo billions. ' j ! oo I