Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1878-01-10
PROPOSED REVIVAL OF THE
INCOME Tx.

Correspondence of n. Y. Herald, 10Th. 1
WAsHINGToN, December 28.-The
argument which will be made in favor
of the reimpositiop of. the income tax
IS that this is the only way to make
the burden of internal taxes equal, or
nearly so, over the whole country
Mr.. Randolph Tucker, of Virginia.
one of the Committee of Ways and
Means, has prepared q statement on
this subject, in which it is shown that
in 1875 out of revenue from internal
taxes of somewhat over S103, 200, 900,
the Northeastern States including
Maine, New Hampshire, Vermont,
Massachusetts, Rhode Island and
Connecticut paid S4,OOQ,OOO, but In
proportion to population should have
paid S9,250,0O0, and according to
wealth nearly $4,000, 900. The
Middle States s-New York, New Jcr-
sey, Pennsylvania and Delaware
paid 1924, 100000. Their contribution
according to population would have
been the same amount, but their pro-
portion according to wealth would
have been S33.5OO,O0O. The North
western States and the Territories,
including Ohio, Indiana, Illinois,
Michigan, Wisconsin, Iowa, Minneso-
ia, Kansas, Nebraska, Montaua, Da-
kota, Colorado, Arizona, Idaho, Utah
and Wyoming paid $40, 100000
Their proportionate share according
to population would have been only
$50, 1888, 1888, and according to wealth
only S27, 100000. The Southern Mid
die States, including Maryland, Vir
ginia, Hest Virginia, North Carolina,
Kentucky and Missouri paid S26,00o,-
900, but their proportion according TO
population would have been only $17,-
100000, and according to wealth only
Guiding South Carolina, Georgia,
Florida, Alabama, Mississippi, Lou
isiana, Texas, Arkansas and Tenues :
see, paid S2,250,000, but their pro-
portion according to population would
have been S19.500,O00, but according
to wealth $17,OO0,0O0. The Pacific
States paid over S3,000,000, but ac-
cording to population should have
paid less than S2,O00,0O0, and accord
ing to wealth less than s2,250,000.
1t is asserted by the advocates of
the income tax that nearly all the un-
taxed government bonds are owned in
the Northern seaboard States, and
that the only way to make this kind
of property contribute its share TO the
general revenue is TO lay an income
tax. There is also determination to
lay high tax on large incomes. the
prevailing idea on this subject heing
to exempt all incomes under $4,000,
and to graduate the tax from one per
cent. up to five, and some wish 1t even
up TO seven or eight per cent. on in
comes exceeding $4,000 or 100000.
The general belief is that the North
west and the South will join together
to impose the income tax, and the
principal question seems to be about
its amount. A plan will he urged on
the House TO regulate the income tax
as to exempt all incomes derived from
salaries or professions, or the actual
labor of the individual, and tax only
the accumulated wealth which itself
yields an income to its possessors.-
This is to be the only fair way to levy
an income tax, and several Represent
atives will urge that a tax thus laid
on accumulated wealth ought to be a
constant part OF the internal revenue
system.