Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-04-22
SENATE MAKES
PROGRESS ON
TARIFF ACT
MEASURE READ IN
DETAIL YESTERDAY
Senator CumminS Presents His
Amendment For Graduates
Tax on Incomes Over Five
Thousand Dollars Annually
ny Morning journal sDecia. LEASED wlr.I

|
Washington, April Substantial
progress vas made by the senate to-
day in considering the tariff bill No
senator being prepared 20 speak on
the bin. as whole. the reading ot
the measure by paragraphs was be-
gun. rhe various items in the chemi-
cal schedules We're passed over Tor
future consideration.
Tho reading was frequently inter-
rupted 10y the discussion of amend
ments and only eighteen pages Of the
bill were disposed OF Senator Cum
minis presented his income tax pro-
vision ana discussed it at length.
senator Cummins pointed out thar
his amendment differs in some impoe-
tant particulars from either the law OF
1894 or the amendment offered b.
senator Bailey II oXempts incomes
below 50. geo ana authorizes the de-
duction of that amount from every
dutiahlo income The rate provided
for Is as follows.
on incomes not exceeding $4,000.
two per cent, not exceeding 10000,
two aud a half per cent, not exceed
Ing 10000 three per cent, not cx-
ccding SG0,000. three and half per
cent, not exceeding $50 0.000 four per
cent. not exceeding Xl0o 0o0, five per
cents upon all incomes exceeding
100000. six per cent
Mr. Cummins believes that the
graduated tax SO provided for WIN
produce "A somewhat less revenue than
A flat tax of three per cent.
The duty Is TO be levied only upon
individual incomes. lie treats cor
4nrtfiapa fta tn4rts in4trufr1p ntatitipS for
Individual profit and the chief reason
for not including corporations Is that
to put q tax upon the incomes OF cor
poraticna Is 10 tax those who afe
stockholders or the corporations but
whose total incomes would not reach
81 600 precisely as though they hat
dutiablc incomes.
'rhc chief object OF a graduated
income tax law he said IS to put The
burden of government upon those Wac
are best able to bear ~ aHd - 10 -
il Is necessary to put a nigh rate upcN
the larger Incomes than on sns.i-
oncs"
The amendment proposed by Mi.
Cummins further provides that all cor
porations shan make annual reports
showing their gross ana net earnings
and the amounts paid as interest ana
dividends and the persons to whom
paVmonts arc made and also the
''',iis ',,it, q. aoo 4 ,rar or more. In
M en-, IN. ,ndivided profits of n
.,,r,,or,tinn ara nscprtained and thu
1titrn,,,tt,d shsrc nf rach stockholder
.,.',.a ,,s y ,srt - hts Income
Nr S,,n,,ins r,rerrlng TO newspa-
c,i,irienn said be had been rep
r.,..,,t.'d "a mnkinp un insiduous at
,,.i, ul,nn tbe nrinciplc of protection
~, III" rais,oe Of revenue from an in
,..,,,,,i a.,
~ t,sirn nn he a,,id "to dfsclaim any
.,,,l, i,,t.rtfon There is no senatot
'ioi,nins atleriancc 10 the republican
~, ,,si,s, tavoIty 10 rho doctrine Of
nrat '.,til,n Il ornatcr than my own. I
ii,nI,rst,nd maj came into the sem
w., III, t.,,,,. eusptcfon respectine my
,'t.,,i ,,,,n, ,rntprtion admit that
tr az, a. H. measured bv the teRts
in,,,o's,d Inv. ihot association of slandcr
i'mn,.n ~ the American Protective
i.,,,ot,,, .hcn I win bn found To be un-
sa prt n am measured BY the
ii,.,n 'tlotf,f.,n and by the dccla-
49,. t.rrls,p nun