Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1894-02-23
THE TAX ON MILLIONAIRES
Revenue That Could Be Derived From
New Yofk'S Money Kings.

nR. AST0k'S INCOME is $500, 900
John D. Rockefeller Has $751;, $50 q Year,
and by q Two Per Cent Tax Would
Have 10 Pay Si52,225.
New YORK, Feb. 1.-THE income tax
bill, which passed the house OF represent
tatives, and which is now in the United
States senate, provides, in its presen.
form, that incomes Of $4,000 and less shall
pay no tax. Incomes Of more than $4,000,
derived from whatever source, will pay
2 per cent tax only on the excess over
$4,000. The possessor OF an income OF
5000 must pay per cent on $1,000. The
tax upon corporations includes every
phase Of corporate stock. This tax is
general is without the $4,000 redemption
allowed to individual incomes. 1t is
provided that, in collecting the tax on
pay the tax and deduct the amount from
There are in New York City, at a con-
sentative calculation, the surprising num-
Der Of 1,157 individuals and estates that
lars There are in Brook n 1872 individ-
uals and estates each worth at least one
million. In these two cities there are,
then. 1919 millionaires But many of
these are worth much more thar one
million they are multi-millionaires. Let
us see how much are the annual incomes
of some of these millionairee, and, APP
also, how much they will
pay each year to the government. should
the income tax become law.
The nature OF these great fortunes is
and they therefore yield differ
ent incomes. The rates Of interest which
some of the more conspicuous ones draw
are reckoned in round numbers thus:
John d. Rockefeller's, 8 per cent ;
William Waldorf Astor's, per cent Jay
Gould's estate, which being wrapped up
in corporations, is still practically undi-
vided. per cent Cordelius Vanderbilt,
3 per cent, and William X. Vanderbilt, 3
per cent.
Calculating at the foregoing rates, and
compromising the interest semi anuaily
to allow for reinvestment, the yearly
and daily incomes of the four individuals
and OF the estate named are as follows:
Yearly Daily
income income.
John ID. Rockefeller..........s7 GIL 260 so s53
William Waldorf Astor...... S,s00,0Oo % "a
Jay GOuld's estate.............. 100000 II Ods
Cornelius Vanderb lt:;......". 4,0ls,too 900
William X. Vanderbilt ...... 795,00o 1887
Tie average rate OF interest is 5ls per
cent The incomes of the millionsires in
the list that follows here have been
calculated at the rate of per cent. The
amount of income tsx has been calcu-
lated without deducting $4,000 from the
incomes. Four thous and dollars is here
insignificant, and, besides, in many
cases, would be paid by corporations:
John d. Rockefeller, worth $125 600,
600; income ~ GIL ,250.
VIM. Waldorf Astor, worth 100000
900; income 81, 5000
Russell Sage, $4,000. 900; income "a,
500 900.
Gould estate, 500, 1000 900; income "a, ).
500 900.
Cornelius Vanderbilt, 800, 600, 900; in
come 81 O48, 900.
w. X. Vanderbilt. $50, 900, 900; income
1895, 900.
Ii. N. Flagler, $50, 900, 900 income So,
900 600.
F. W. Vanderbilt, $35, OOO, 900; income
$l,750,000
John Jacob Astor. $50, 900. 600; income
$1,000, 600
L. q. Tiffany, $s5, OOO, 900; income 81,
100 600.
g. P. Huntington, $40. oOO, 900; income
81, 900, 900.
William Rockefeller, $4,000, 900; in
come 80 .000, 900.
Mrs Eliot F. Shepar] J, $50, 600 600 In
come 81 100000.
Mrs. Hetty Green, 900, OOO, 900 income
81, 900 900.
Moses Tayl $50, OOO, 900; income 80,
500 900.
Robert Gole., s25, 200, 900; income 81,
$4,000.
Ogden Golet, 10000 900; income 81
900 900
Singer estate, $50, 900, 900; income 81,
SOC, 900
J. Pierpont Morgan, $25, 600 900; in
come 81 ,250,0 900.
Davis BOWS, 10000, 900; income 81,
OOO, 900.
Elbridge T. Gerry, 500 ,OOO, 900; incom
81 ,O0O, 600.
schermerhorn estate, $25, 900, 900; in
come 81, $50, 900.
J. A. Bostwick, $4,000, 900; incom
81 900 600.
Theodore Havemeyer. $50, OOO, 900; in
come 81, 900, 900.
Henry O. Havemeyer, $50 900 900; in
come 81 500. 900.
W. Sloane, $2O,OOO,OOO income 81,
600 200.
Mrs. W. D. Sloane, s2O.OOO,oOO in
come 81 900, 900.
Henry Hilton, 500 ,oOo, 900; income 81
600 900.
Andrew Carnegie, $40, 900, 900; incom
81 ,0O0, 900.
II. Victor Newcomb, $l5, 1000, 900; in
come $3.50. 900.
Mrs. II. Mex. Twombley, $40, OOO, 900
income 81 ,OO0, 900.
Geo. w. Vanderbilt, $40, 100000; in
come 81 SOC, 900.
William G. Whitney, 500. 900 900; in
come 81 900 900.
William P. Furniss, $40, OOO. 900; in
come 81 ,0O0,0 900.
Darius o. Mills, 500, OOO, 900; incom
81 ,O00, 900.
Percy R. Pyne, $50, 1000, 900; incom
81 500 900. -
Andrien Iselin, $4,000, 900; incom
5000, 900.
This includes probably all Of the mi
lionaires whose fortunes exceed $40
600, 600. There are over thousan
others in New York who can count thei
wealth at over one million dollars.
FUN ON THE NICrHEROY.
All Americans Have Left and Native
Hava TaENn THAR PlacAa.