Ogden Standard-Examiner | 1920-04-22 | Page 1 | Plan New Tax to Get Bonus for Veterans

FKois' All Stock Exchange Transactions Transac-tions Would Be Assessed by Republicans PRICE OF TOBACCO I LIKELY TO ADVANCE i Scheme Will Raise More Than Billion for Soldier Relief WASHINGTON. April 22. A tax onj all stock exchange transactions equal i to the brokerage charges of commission commis-sion houses have been agreed on tentatively ten-tatively by the Republican members of the house ways and means committee commit-tee as one of the new levies for rais-I ing money for the soldier bonus legis- il'itfnn Three other levies have similarly been recommended by the Republicans These are a one per cent levy on the final sales to consumers, a new levy on incomes, probably in excess of JfiiiQ.-ftnd .an-increase o.fapproximate-' ly lo per cent oC existing taxes an tobacco. to-bacco. These four forms of taxes would remain re-main effect two years and the Republican Repub-lican estimate that they would net about 1,500,000,000 for soldier relief. They will be incorporated in the leg-'ialation leg-'ialation to be presented in the house for adoption May 3. Committeemen predicted (hat the! four-fold plan of taxation would not! I be changed. j Committeemen declared that regard-1 less of1 the form, the taxation ultimate-! ly would be borne by the consumer. They estimated that more than seven-' ty exchanges, iuclding Wall street, the Chicago Board of Trade and the New Orleans Cotton Exchange would be affected af-fected by tho tox on stock transactions.