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Show WAR REVENUE BILL PLANNED TO . RAISE $1,800,000,000 IN YEAR Ten Per Cent Increase Added to All Existing Duties and Articles Nuw on Free List Are Taxed 10 Per Cent Incomes Are Hit Hard An Extra Tax of One-Third Added to -All Individual Incomes for 1916. Following are some of the articles in daily use which will be taxed under tne now war revenue bill : Stock Exchange Transactions On each sals future delivery for each $100 2 cents Capital stock on each original issue of $100, 5 cents; on transfers on each $100 face value 2 cents Bonds, debentures, etc., on each $100 face value 5 cents Indemnity bonds, 50 cents; where premium Is in excess of $100 1 per cent of premium charge Drafts, checks, notes (and renewals or extensions) for each $100 2 cents Deeds, conveying lands or realty, for the first $100 to $500, 50 cents; for each $500 or additional or fraction 50 cents tlfe Insurance policies (except industrial or weekly) 8 cents on each $100 Marine, International and fire insurance premiums 1 per cent Casualty policy premiums 1 per cent Freight bills 3 per cent Passenger tickets tO per cent Steamship tickets for foreign port, $10 to $30, $1; $30 to $60, S3; exceeding ex-ceeding $60, $5. Seats, berths or staterooms, rail or water...-. 10 per cent Express rates 10 per cent Automobiles and motorcycles 5 per cent on wholesale price Tires 5 per cent Light, heat and telephone Mils 5 per cent Telephone (long distance) 5 cents on each toll message over 15c Musical Instruments 5 per cent on those costing over $10 Talking machines 5 per cent on those costing over $10 Jewelry 5 per cent Cosmetics and proprietary medicines 5 per cent on wholesale price Amusement tickets (charity excepted) . .1 cents for each 10 cents of admission ad-mission price, except where maximum is 5 cents. Washington. The administration war revenue bill as unanimously agreed upon by the house committee on ways and means and reported to the Vlouse Wednesday, Is estimated to produce $1,800,000,000 a year. If the framers overlooked any tangible tan-gible article upon which it is possible to Wvy a tax, It was not becnuse of any desire to do so. Incomes, Inheritances, business profit, prof-it, amusements, liquors, tobacco, automobiles, auto-mobiles, moving pictures, baseball games, medicines, letter postage, transportation trans-portation and jewelry are among some , of the things which will feel the burden bur-den of taxation. Tariff Will Yield $200,000,000. The committee found it necessary to .go to the tariff to make up a deficit o something like $200,000,000. This was done by an agreement to a tax of 10 per cent upon all articles now on the free list and 10 per cent additional upon all articles now upon the dutiable list Income-tax increases as made public hy Chairman ICItchln follow : Taxes for the year ending December 31, 1916, have been increased exactly ore-third. These taxes are due in June. Exemption limits have been reduced to $1,000 for single men and $2,000 for married men. The normal tax on new classes of Incomes to be taxed, those between $1,000 and $3,000 for single men and between $2,000 and $4,000 for married tnen, has been fixed at 2 per cent. Normal taxes on all incomes formerly former-ly taxed, those above $3,000 for single men and $4,000 for married men, have been Increased from 2 to 4 per cent. Increases In All "Surtaxes. The increased surtaxes are as follows: fol-lows: $ 5,000 to $ 7,500 1 per cent 7,500 to 10,000 2 per cent 10,000 to 12,500 3 per cent 12,500 to 15,000 4 per cent 15,000 to 20,000 5 per cent 20,000 to 40,000 6 per cent 40,000 to 60,000 8 per cent 60,000 to 80,000 11 per cent 80,000to 100,000... 14 per cent 100,000 to 150,000 17 per cent f 150,000 to 200,000 20 per cent 200,000 to 250,000 24 per cent 250,000 to 300,000 27 per cent 300,000 to 500,000 30 per cent 500,000 and upwards 37 per cent The inheritance tax starts with one-half of 1 per cent as the basic tax on all estates of $50,000 or less. The remainder of the schedule is applied ap-plied to the various excesses in graduation grad-uation as follows : Inheritance Tax Scale. On excess of more than $50,000, but not exceeding $150,000, 1 per cent. On excess of more than $150,000, but not exceeding $250,000, 1 per cent. On excess of more than $250,000, but not exceeding $450,000, 2 per cent. On excess of more than $450,000, but not exceeding $1,000,000, 2 per cent. , , On excess of more than $1,000,000, but not exceeding $2,000,000, 3 per . cent. On excess of more than $2,000,000, but not exceeding $3,000,000, 3 per cent. On excess of more thnn $3,000,000, but not exceeding $4,000,000, 4 per cent On excess of more than $4,000,000, but not exceeding $5,000,000, 44 per cent On excess of more than $5,000,000, but not exceeding $8,000,000, 5 per cent. On excess of more than $8,000,000, but not exceeding $11,000,000 7 per cent. On excess of more than $11,000,000, but not exceeding $15,000,000, 10 pel cent. On excess of more than $15,000,000, 15 per cent. The income tax schedules were not changed except for the determination to place an added tax of one-third on individual income taxes which are due In June of this year. Under this provision pro-vision those who already have paid their income taxes for the year ending December 31, 1916, will have to paj another one-third of their taxes again and those who have not paid will have to pay one-third more when they do pay. The tax on excess profits was not changed and stands as printed previously previ-ously at 16 per cent on profits over 8 per cent and $5,000. Liauor Touched Ud. The tax on spirits, whisky and similar sim-ilar beverages has been increased to $2.20 per gallon. The tax on beer Is $2.75 per barrel. The tax on rectifiers is 15 cents per gallon. The tax on tobacco has been doubled. dou-bled. The taxes on cigars have been advanced ad-vanced to a new schedule ranging from 50 cents to $10 per th'ousand, retnil value. The bill specifies that purchasers shall pay the 10 per cent tax on amusement, theater, and baseball tickets. tick-ets. A new tax of 5 per cent on heat, light, and telephone bills was inserted in the bill. Under this section when the householder goes to pay his monthly month-ly bills for these articles he will have to pay an additional 5 per cent of the amount of the bills for the support of the government. The stamp tax on telephone and telegraph messages was fixed at E cents ou each message the toll of which is more than 15 cents. Commuters' tickets were exempt from the passenger ticket tax of 10 per cent tax where the one way fare is less than 25 cents. Mail Rate Increases. The second-cluss mail rate increase was decided on according to the zone system. On motion of Representative Dixon of Indiana, this was reduced to the following:. Two cents n pound on. second-class mail in first and second zones. Three cents a pound on second-class mail in the third and fourth zones. Five cents a pound on second-class . mall in the fifth and sixth zones. Six cents a pound on second-class mall In the seventh and eighth zones. Religious, fraternal, labor and agricultural agri-cultural papers not operated for profit were put on a straight one and one-hnlf-cent-a-pound basis. The old regulations concerning the free distribution of small papers within with-in the county were unchnnged. A tax of 5 per cent was inserted (n the bill on pleasure boats. Musical Instruments costing less than $10 each, were exempted from the provisions of the 5 per cent tax on these articles. A motion was made in committee to reduce the automobile tax to 3 per cent, but failed by a large margin. |