Show SECRETARY McADOO'S REVENUE SUGGESTIONS SPECIAL interest naturally attaches attaches attaches at at- to the suggestions regarding revenue legislation made by Secretary Secretary Secre Secre- tary tory of the Treasury McAdoo In In aletter a aletter aletter letter to Chairman ln of ot the House Ways and Means Committee now entering upon the task of framIng framing fram tram ing lug a new tax bill bUl Mr McAdoo estimates es- es estimates estimates es es- that If the present rate of Increase in expenditures should continue continue continue con con- for six months the Treasury will wUl actually have hove to disburse approximately approximately ap- ap approximately ap ap- proximately during the next fiscal year Of this amount he ho advises that or one t third one hi r rand d e should ou d be e raised by t. t y taxes and the remainder by loans loam n. n His principal prin prin- principal cipal recommendations recommendation In addition to this are that a 1 real reat war profits tax taxat taxat at a high rate should be levied upon upon up up- on all war profits and nd should be superimposed upon the th existing excess excess ex ex- cess profits tax tax in such a way that the tax payer should pay whichever tax lax is greater that there should be bea bea a substantial s Increase in the lie amount of normal income tax upon call so ed ad unearned Incomes so as to bring the rate rato above 12 per cent ent which he suggests as the rate rale for earned orned in In Incomes comes and that bat heavy taxation be imposed upon all luxuries With these recommendations he advises the amendment of the existing excess excess excess ex ex- cess profits tax so 80 as all Plans for attaining that end are now being prepared by Treasury Bradstreet experts |