The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1913-04-08

ever be called into question. Owing to
fects in personal property taxation the
larger incomes in the United States
have for many years been able to
escape with less than their share of
the general burden Of taxation and
this inequality will be, it is believed,
in part overcome by the plan pro-
posed"
The bill provides that all taxable
persons shall be notified Of the amount
for which they are liable under the
law on or before the first day Of June
o. each year and assessments be paid
on or before June 80. For delay in
making payments, and ten days after
notice, there shall be added the sum
of five per cent on the amount of tax
unpaid and interest at the rate of one
per cent a month from the time the
tax falls due.
The corporation tax provisions, 1t is
directed, shall be computed on the in
come for the year ending December 81,
1918, and for each calendar year
thereafter. 1t is provided. however,
that corporations may designate the
last day Of any month as the day OF
the closing of the fiscal year and may
have the tax computed on, the basis
of net income ending on its designated
day. Ali labor, agricultural, horticul-
tural, fraternal, religious and mutual
benefit societies are made exempt
from this proposed tax.
THE FREE LIST.
Removal of all tariff from many ar
| ticIes of food and clothing: broad reduc-
lions in the rates of duty on all neces-
saries of life; an increase of tariff on
that would touch the pocket of every
American citizen whose net income ex-
ceeds $4,000 the striking features Of
the new democratic tariff revision bill
presented today to the house.
| Sugar would be free OF duty in 1916.
/ the Dill proposing an immediate 20 per
cent reduction and the removal of the re-
| naming duty in 1915
| Raw wool would be made free at once
with a correspondingly heavy reduction in
! the tariff on all wooden goods
free list namely: Meats. flour. bread
boots and shoes lumber. coal. harness
saddlery, iron ore. milk and cream. po-
ton bagging. agricultural implements
leather woodpulp. Bibles. printing paper
not worth more than ? IL cents per
pound. typewriters. sewing machines,
type-setting machines. cash registers
steel rails. fence. wire cotton ties nails
hoop and band iron. fish. sulphur. soda
tanning materials. acetic and suiphuric
acids, borax. lumber products including
broomhandles. clapboards. hubs for
wheels. posts. laths. pickets, slaves, shin
Thee principal items are taken from the
free list and taxed: Diamonds and
precious stones. furs coal tar products
10 per cent; volatile oils 20 per cent:
spices from 1 cent to cents per pound.
$50. 900. 600 REDUCTION
The new rates are estimated to reduce
the customs revenue approximately $50
100000 year. This is expected to be
made up by the income tax.
Endorsed by President Wilson, the
measure represents the efforts of the
president and the house tariff makers
to carry into effect democratic pledges
| Of downward revision and OF concessions
to the American consumer
Protection to the farmer would be cut
| throughout by more than so per cent
! in effort to reduce the cost of food
Protection to the steel and implement
m man would in turn be cut by
Heaviest reductions fall upon foodstuffs
agricultural products. wooden and cotton
| clothing.
ident Wilson and accepted by the house
committee. is expected to provoke a. Sc
/ we're fight within the democratic ranks of
| both houses. 1t had not become clear to-
/ free wool and free sugar in the senate
would be able to force a compromise on
one or both those provisions.
| The decision to make gradual reduc-
/ ton in the sugar tariff was reached by
1 the president and the house committee
after Louisiana cane growers declined to
| accept a compromise that would have
established a one cent per pound tariff
/ for three years with free sugar in 1916
| THE INCOME TAX
The income tax which will transfer in
direct taxes levied through the tariff into
a direct tax upon the incomes of indi-
| vidual citizens and corporations exempts
all sums below 81 600. Incomes in excess
of that amount will pay ] per cent tax
/ UP to $50 goo per cent from $4,000 to