The Oklahoma miner. [volume] (Krebs, Okla.) 1912-192?, 1913-04-17
LIVING COST IS HIT
NEW DEMOCRATIC TARIFF BILL
PLACES RAW WOOL ON FREE
LIST.
REVENUE is CUT Sso,ooo,ooo
Sugar Duty ls Heavily Reduced-AlI
Incomes from $4,000 UP Taxed
Underwood Says Revenue viii Aid
Legitimate Competition.


Washington, d. c., April s.-Carry-
ing sweeping reductions in every
schedule of the tariff law except to-
bacco aud spirits, schedules Of the
Democratic tariff revision bill was In
troduced In the house by Chairman
Underwood of the. house ways and
means committee. 1t was automatic
ally referred to the committee, by
which it will be reported to the house
within several days. Several articles
of food and clothing classed as neces-
saries of life are placed on the free
list or greatly reduced in duties. Ac-
companying the bill is an income tax
on all incomes of $4,000 q year or
over
The bill will take effect the day
after the president signs 1t. The
main features Of the bill are
Sugar would be free of duty in 1916,
the bill proposing an immediate 70
per cent. reduction and the removal
of the remaining duty in 1916.
Raw wool would be made free at
once, with a corresponding heavy re-
duction in the tariff on all woolen
goods.
Placed on the Free List.
Other articles are put on the free
list as follows: Meats, -four, bread,
boots and shoes, lumber, coal, har-
ness, saddlery, iron ore, milk and
cream, potatoes, salt, swine, corn, corn
meal, cotton bagging, agricultural I'M
plements, leather, wood pulp, bibles,
printing paper not worth more than
az cents q pound, typewriters, sew
ing machines, typesetting machines
cash registers, steel rails, fence wire,
cotton ties, nails, hoop and band iron,
fish, sulphur, soda, tanning materials,
acetic and sulphuric acids, borax, lum-
Der products, including broom handles,
clapboards, hubs for wheels, posts,
laths, pickets, slaves, shingles.
These principal items are taken
from the free list and taxed: Rough
and uncut diamonds and precious
stones, furs, coal tar products, 10 per
cent; volatile oils, 20 per cent; spices,
from / cent to cents per pound.
ChaIrman's Comparative Table.
Chairman Underwood OF the ways
and means committee, in his state
ment accompanying the new bill, gave
a comparative table to show reduc-
tions in tariff duties made upon neces-
saries. In each item both the present
tariff and the proposed tarir had been
reduced to an ad valorem basis.
THE new rates are estimated to re-
duce the customs revenue approx
mate4y $80,O00O0 a year. This is ex-
pected to be made up by the income
tax.
Indorsed by President Wilson, the
measure represents the efforts Of the
president and house tariff makers to
carry into effect Democratic pledges
of downward revision and of conces-
sions to the American consumer
Protection to the farmer would be
cut throughout by more than 30 per
cent. in an effort to reduce the cost of
food. Protection to the steel and i'm
plement manufacturer would in turn
be cut by fully as wide a margin.
Heaviest reductions fall upon food
stuffs, agricultural products, woolen
and cotton clothing.
Free Wool and Free Sugar.
The free wool proposal backed by
President Wilson and accepted by the
house committee, Is expected to pro-
woke severe fight within the Demo
cratic ranks of both houses. 1t had
not become clear whether the Demo
cratic opponents of free wool and free
sugar in the senate would be able to
force a compromise on one or both
these provisions.
The decision to make a gradual re-
duction in the sugar tariff was reached
by the president and the house com
mittee after Louisiana cane growers
declined a compromise that would
have established one-cent per pound
tariff for three years, with free sugar
in 1916.
Direct Tax on Incomes.
The income tax which will transfer
indirect taxes levied through the tar
If into a direct tax upon the incomes
OF individual citizens and corporations
exempts all sums below $4,000. In.
comes in excess OF that amount will
pay 1 per cent. tax up to $4,000.
per cent from $4,000 to $4,000;
per cent from $4,000 to 100000, and
4 per cent .sabove ehat figure. The
present corporation tax levying ] pei
cent. on corporation incomes above
$5000 would be retained as part oil
the income tax.
To encourage trade with foreign
countries. the bill would reverse the
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