Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-07-02
DEMOCRATIC TAX BILL
Is BEFORE CONGRESS
AS introduced by Chairman Kchn Expected to Raise
S25O,000,000 of Annual Income for Govern
ment-Provsions of Measure

Especial to Tho Timcs-D,spatch.]
WASHINGTON. July 1.-The Demo-
cratic general tax bill designed to
raise revenue. to fill the Treasury, and
pay for preparedness, was presented to
Congress to-day.
The bill, as introduced in the House
by Majority Leader Claude Kitchin.
chairman of the Ways and Means Com
mittee, is expected to raise S25O,O0o.-
GOO of annual income for the govern
men,. Its provisions are:
/. a revision of the present income
tax. doubling the rate on all incomes
from $4,000 up, and imposing an adj
ditional SurtaX on incomes above 500
oo0. This provision is expected to
add $l1o,o0o,c0 to the revenue.
o tax on munitions of war, i'm
posing n graduated excise on the gross
receipts Of manufacturers of gun
powder and other explosives. ammuni-
tion and fire arms, and smelters and
refiners of copper This tax is ex-
pectcd TO raise S5o.00000O.
j. y tax on inhcritarces above $50
ooo graduated from ! per cent on
the first $4,000 to per cent on the
amount above S45o.O0O. This provi-
sion is expected 10 add $4,000, 900 to
the Federal income.
!. y re-enactment of Il portion of the
present war revenue act continuing
taxes on beers, wines and LIQUORS
bankers and brokers. thcaters. NOV
ing picture shows, and other aniusc-
ment places. and manufacturers OF to-
bacco. The stamp section of the war
revenue act will be repealed by the
new bill. This provision, II is esti-
mated, viii raise S4O.000.00O.
>. The administration proviso Great.
( ing tariff commission to take the
tariff out of politics.
d. y provision imposing protective
duties on products that would COM
pete with the infant" dye industry
in this country. The President would
he authorized TO eliminate the duties
at the end Of five years if the infant
Industry is not producing GO per cent
OF the domestic consumption of dyes
I: An antidump law, prohibiting the
underselling of American manufacture
ers, under actual market price, by for
eigr competition and making such
undcrsclling unfair competition" pun
shable as Il misdemeanor
NONE OF MONEY TO HE USED
IN MEXICAN EMERGENCY
None of the money to be raised by
the new bill is TO be used in expen-
ditrres due to the Mexican crisis. An
issue OF bonds TO be authorized here
after will take care of these nppro-
priations, which SO far amount to moro
than Sl50.0C0, 600.
OF the $25o,ooo,oOo estimated to be
| raised by the revenue bill, $4,000. 900
Is additional revenue, S4o,00O,000 al
ready being available under the nres
cnt war revenue act. The new income
| tax section increases the basic rate on
an incomes from per cent. under the
I present. TO per cent. 1t retains, how
ever the exemption of $4,000 a year
income for single persons and ST O0o q
year Tor married persons. The surtaX
rates are largely increased by a system
OF rcc!aSSiicationS. which lowers tho
amount upon which the various pcr-
cchtaSes OF surtaN must be paid Under
the present law. surtaX is added m
the basic rate of per cent MS fol-
lows:
one per cent on incomes that exceed
$4,000 and do not exceed $4,000;
per cent on incomes in excess of $50 600
and not IN excess Of $4,000; 3 per
cent on incomes in excess of $4,000
ana not in excess OF 100000 per
cent on incomes in excess of S1Oo,oO0
ana not in excess of $250,000: : per
cent on incomes in excess of s25o, 0o0
""" not IN excess of 100000. and
$685. 900 u
Under the proposed law tho surfaces
to be imposed In addition to the
norma! rate of per cent are:
one per cent on incomes that ex-
coed $4,000 and do not exceed $4,000;
o"p ana not in excess of 100000; per
| cent on incomes of 100000 and NOT In
excess OF $4,000: per cent on incomes
IN excess OF $4,000 and not in excess
"i Si"",ooh: per cent on incomes in
excess of 100000 and not In excess
OF 100000; per cent on incomes In
excess Of $4,000 and not in excess
OF Sztp'"oo; per cent on incomes in
/ excess Of 100000 and not In excess
OF $4,000: per cent on incomes IN
eNcess Of $3.50, 600 and not in excess
OF 5000 per cent on incomes in
eNceas of 100000 and not In excess
OF 100000; 10 per cent~on incomes in
excess Of $4,000
The munition tav will he imposed
rs follows:
manufacturers of gun powder and
o,hef explosives. except blasting pow
I der and dynamite: per cent o! tho
gross receipts not in excess of $1,000.
"V"; Pc! cent of the amount by which
SuHh receipts exceed S1G00OoO
manufacturers of cartridges cans
pr"Jecti!es, shells, torpedoes shrapnel
| fuses. firearms or any OF their parts:
per cent OF The gross receipts not in
excess of S25o,ooo; per cent Of tho
gross receipts exceeding So50, 900 and
not exceeding 100000: per cent of
The amount of gross receipts between
| 100000 and $1,000. 600; : nor cont Of
| the amount by which gross receipts
exceed 100000
Shelters, refners and alloyers OF
copper: per cent on gross REGENTS
| between S250.o00 and $1,000, 600: per
cent on receipts between 1000, 900 and
] Slo,oNOoo0; 3 per cent on the amount
| by which receipts exceed sl000O,O00.
The munitions tax would not he col
Atcted. under the bill. in cases where
I nTOnt