Show PROPOSE INCREASE IN INTERNAL TAXES SECRETARY mcadoo WOULD INCREASE TAXATION ON UAL AND CORPORATE INCOME opposes issuance of bonds to meet first years expenses of national defense program would keep emergency tax and sugar duty washington increases in internal taxation rather than issuance ot of bonds to meet the first years expenses ot the administrations defense program are advocated by secretary mcadoo of the treasury in a formal statement issued thursday night giving an estl mate of 0 the federal governments reve and expenditures up to 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 secretary estimates that in additional revenue will be need ed for the expenditures for 1917 in eluding for new measures measure 2 for national defense this amount says the statement can easily be raised by internal taxa tion without appreciable burdens upon the american people mr mcadoo suggests a reduction in the income tax law exemption on sin gle persons from 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 |