The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-28
81 100000 VOTED TO TRAP
DODGERS OF INCOME TAX
Underwood Cites Figures to House to Show hat
Nations Revenues Have Not Dropped
Under New Tariff.

taxes, as Is shown by the difference be-
tween Sh per cent. and v per cent
Mr.. Underwood then turned his atten-
ton to statements which he SAID nave
been made recently with reference to the
condition Of the Treasury. all pointing
out that the present tarif law would leave
great deficit.
"As matter Of fact" said Mr.. Under
wood, instead of the law being disap-
polntment as a revenue measure II has ex-
ceeded the expectations OF those who
wrote the law"
The Democrats applauded this state
ment and then Mr.. Underwood began to
read from u statement which he said was
furnished by the experts or the Treasury
Department yesterday. As he went along
he added to the statement from his own
Information.
When the recent tarifr bill was writ
ten" he said. 'the committee estimated
that receipts from the customs duties
under the FIRST year OF that bill would
amount to @270,0Q0.00o. That amount
has been exceeded by the returns that
have been received by the Treasury In the
last eleven months. and the Treasurer's es-
innate of the moneys that will be received
from the customs for this fiscal year
amount to S2s2 900. 0O0 or an excess In
customs receipts Of 322.o0O,oOo above the
| estimate that we stated to the House when
the bill became a law.
Under the last year OF the Payne bill
the receipts from customs dues amounted
to s3is,o00, 900. so that II Is seen the fall
ing on In customs dues between the pres
| ent law and the Payne law will amount TO
| the difference between s31s 200, 900 and
| S2s2, 900 900, or about s26, 200, 900. OF
course We expected there would be fall
Ing on In the receipts from customs to
| some extent, or IL we had not we would
not have proposed the income tax.
The Treasury reports that at the end
OF this fiscal year the internal revenue
will amount to about S309. 900. which
Is u falling OF OF $4,000, 900 In our esti-
mates, but II is equal to the amount OF
the Internal revenue taxes that were re-
celved under the last year OF the Payne
raw exclusive OF the corporation tax,
| which In that year amounted to $780,
| 100000, exactly the amount the Internal
revenue receipts will amount to this year
so far as millions are concerned"
In summing up the Information given
by the Treasury experts Mr.. Underwood
| showed that the total revenues of the
Government from all collections this year
Will amount to s733.0OO 900, with only a
| ten months exercise OF the income tax
| feature OF the tariff law. while the Payne
| law In 1914. he said. raised only s724,-
| 100000.
Mr., Payne On His Feet.
But there is nothing In having deficit
| in the Treasury" said Mr.. Underwood
II call attention to the fact that at the
| end OF the fiscal year OF 1909 under the
Payne hill there was a total deficit OF
| SIS. 700. 900"
| This statement brought the veteran New
York member, Mr.. Payne, to his feet.
Well, now" said Mr.. Payne. 81 wan,
! to call the attention OF the gentlemen 10
the fact that the Payne bill did not go into
operation until the end of the fiscal wear
1903. You cannot blame the Payne bill"
The Payne bill was partly in operation
and the Dinvley bill was partly in opera
ton" replied Mr.. Underwood
Mr.. Payne then said that June 30, 1909
ended that fiscal year and the Payne bill
did not go into operation until after tina,
date.
II will correct my statement" said Mr.
Underwood. THE deficit of $llS,00O. OOC
was under the Dingiey law"