Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1913-09-03
GOING AFTER BIG INCOMES.
All Incomes Over 100000 to BE Hit
BY Increased Tax.

Washington, Aug. 31.-The burst
of Democratic insurgency which
lifted the tariff revision struggle out
Of the routine channels in the Sen
ate during the last week is to have
its final hearing in a caucus Of Sen
ate Democrats to be held late to-mor-
row or Tuesday. The Democratic
members Of the finance committee,
who have undertaken to compose the
differences in the party ranks and
devise compromise income tax pro-
visions to meet the demands Of the
insurgents" worked throughout to-
day over those and other features of
the tariff bill, and will be ready to
report to the caucus by tomorrow
evening.
AS a result Of the fight led by
Senators Reed, Vardaman, Thomp-
son, Ashurst and others Of the So
called "insurgent" forces, the bill
will be revised as to it's income tax
provisions, and heavier tax levied
on large incomes. This change will
be against the judgment Of many OF
the party leaders who helped to
frame the bill and who point out that
its proposed 4 per cent tax on in
comes over 100000 is as high as
insurgents" hold enough votes to
control the situation and to force the
adoption of some of the radical
amendments proposed by Senators
La Toilette, Bristow, Borah and 9TH
ers.
After the Big Incomes.
1t is expected that the caucus will
adopt rate graduated up to per
cent additional tax" on incomes
above 100000, with graduations
from that figure up to per cent on
those above 100000. AS this lat
ter tax would strike only few in
comes in this country, many of the
insurgents insist upon, greater in
| crease after the 100000 figure is
| reached, so that the tax would be 10
per cent, or even more, above $780,
600. To this additional tax"
| would be added the regular normal
| tax" of ] per cent.
The income tax fight is the last big
contest before the final passage of
the tariff bill. Many items are still
to be considered, including the pro-
posed tax on trades in cotton flu
lures; but with the settlement Of
the income tax rates 1t is expected
the tariff bill will proceed rapidly to
its final passage. It's first reading
was completed late yesterday, and
some of the Senate leaders still be-
lieved to-day that its final passage
would occur next Saturday
The Currency Reform Fight.
Meantime preparations are under
way for opening. up the currency re-
form fight in the Senate at an early
date. While consideration Of the
new bill has not yet started in the
house, the Senate committee on
banking and currency will begin
hearings Tuesday, with representa-
tives of the American Bankers Asso-
|ciation as the witnesses. Bankers
who Joined in the recent conference
at Chicago and who adopted resolu-
tlons demanding many changes in
the currency bill, are to be heard at
length beginning Tuesday.
Some Changes Arc Likely.
The Senate leaders expect TO sup
port the bill now before the House in
it's essential details, but some
changes are likely to be made in GER
tain features OF the measure. None
of these changes, 1t Is claimed, will
afect the vital principles Of the bill.
House leaders expect consideration
of the currency reform measure to,
begin late in the week. The bill as
recently approved by the Democratic