New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-07-16
AN EXPERT on THE INCOME TAX.
woRrrIINGToN G FORD SAYS THE NUMBER OF
PAYERS WILL RE SMALL AND THE REV
ENUE OFT OF ALL PROPORTION


yyashino,or Ju,v S-Inves,lga lions by Worthlng-
ton & Ford chief OF the Bureau OF Statistics,
Treasury Department. lead him TO conclude that
THE possible" revenue under the income tax pro-
vision OF the Tariff biz viii range from N2ooGO
a year. at the lowest point. 10 100000 at the
highest point. That is the opening statement OF a
conniIatlon he has made OF the probable results
OF the bill. 10 which are attached some complex
tables bearing on the subject. II also conclude
he saws that In the first year OF It's operation
I'M. loves, rather than the highest possibility VIII
be attained"
These conclusions were reached by Mr.. Ford
after n study OF the operations OF the Income TAX
law OF 1866 and OF the results reached by ue
oneratIons OF the laws in New-York State and In
foreign countries.
In 1870 the product OF the income tax was WI
-, on. Tho assessed valuation OF al property that
wear was SALTS 9S6. 732: the income tax therefore.
represented 1900 Of ! per cent OF the assessed
valuation OF the property III we suppose says
Mr. Ford that rate Of tax and limit OF exemption
81 90 TO remain unchanged. the valuation OF 1880
there would be collected s5Sl.12. but experience
shows that Only onc-nfth OF the taxpayers would
nav on Incomes under 1900 exemption giving
about tlO0o.0Co on a .iberal estimate -. ,,,r,o
tox will be six times the amount collected in New
York State. and computing the receipts IN thas
G,nt. uDon the basis OF the operation or those
features OF the State law which are similar to
hos in the spgSP bel asO bow 81 E5a Gs the
tax paid by the street railroad companies or bos,
ION To- the State of Massachusetts as basis or
coIculation and assuming II TO be upon one-slx-
teenth OF the whole street-car earnings or me
country the Government would receive from that
source S3i3 1880. The amount To be derived from
steam railroad companies as estimated py MT,
Ford Il 81 $50 1856 only "a per cent OF the amount
derived from the source In 1866 me tax then
however, being per cent Instead or az pro
v,ded in the pending bill. In Great Britain the
re- alive proportion OF railway property and profits
to the total property and profits is as one TO twenty
assuming that it Is the same In this country, the
of he Ia
after an elaborate examination of the workings
OF the Income tax laws In Great Britain and
Germany with exhaustive tables drawn there
from and upon cumulative evidence furnished by
returns from Saxony. switzerland. ita:y ana france.
ar Ford saws that with the exception OF Incomes
Of less than 5000 year. and with the other ibera
exemntions granted under the Senate Dill. the
number OF payers would be very small. and the
revenue out OF al proportion to the cost and DIM
cu'ties az collection Wherever an income tax mas
been in practice for any time. the small incomes
as vel as the large taxed, and 1t IL the smai
incomes which yield the largest revenue to the
State" -. -, .... n.
As the conclusion Of the whole matter ms n1
says that the revenue from private incomes "n'