Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-05-10
NEW WAR TAX BILL
TO HIT EVERY HOME
When Ter ms Are Effective,
American People Will Pay
$33 Per Capita Excise.
REPORT IS MADE TO HOUSE
General Debate Will Begin To-
Day. and Measure May Be
Passed by Saturday.
REPORT is MADE TO HOUSE
fBy Associated rrca.l

BY Associated Frcss.l
WASii1NGTON. May 3.-Thc war tax
bill. extending its exercises TO the
fabric OF every American home. was
formally presented to tho House to-day
by the Ways and Means Committee
with plans for quick passage
II proposes special taxes to raise
$780, .oo0,o 900 in addition TO the present
normal annual revenue OF ii.5oO0o0 :
600 When it's terms arc effective. tho
American people viii be paying direct
taxes of *33 per capita. The people
Of tho British Isles-halr as many
now pay per capita taxes Of $50
While the principal features of tho
new war levy are the increases in in
come and profits taxes. internal revenue
rates and customs duties many of it's
provisions reach the inncrmost struc-
ture OF every home. and make up a list
Of taxes probably the most formida bic
ever faced by tho American people
The household. light. heat and telephone
bills, admission tickets TO amuscmcnts.
fire and life insurance. railway tickets
automobiles. automobile tires and
tubes. soft drinks. postage rates. golf
clubs and baseball bats. club dues and
host Of other everyday necessities or
luxuries come under the taxation.
MAY FORCE MANY PAPERS
OUT OF BUSINESS
Increased postage rates on news
papers. arranged in a zone system. arc
such that publishers say they will
force many newspapers out of bus-
ness.
Already protests against many fea-
lures OF the law arc pouring in. and
attacks upon ii will center in the
Senate Finance Committee. which will
conduct public hearings on it, and
probably make some amendments
When Democratic Leader Kitchin
presented the bill TO the House to-
day nc announced that general debate
would begin tomorrow. and that he
had hoped to pass IL by Saturday
There is some objection. however, to
hurrying the bill and il probably will
be passed the early part of next week.
In presenting, the bill. the Ways and
Means Committee made report say
ing, in part:
After carefully considering the ex-
pcriencc OF the European countries at
war. the committee believes il is sound
economic policy for tho present genera
tion TO bear a fair and equitable por-
ton of the burden Of financing the war
and recomm ended that tho remaining
contemplated cSDcHses Of tho govern
mcni for the remainder Of this and tho
whole OF the next fiscal year he raised
ny taxation. The effcc: Of this recon-
mendaton is that about onc-hait Of
TINS contemplated expenditure will he
met by taxation. and the other half
from the proceeds from the bonds.
ESTIMATED TO WELD
~ $500 nOO.O00 ADDITIONAL
1T is estimated that the rcccipts of
the Federal government. including
postal receipts. for tho next fiscal year
under existing law viii! amount 10
S,'"e."oo.ooo. The proposed bill is
estimated TO yield during a twelve
month period sl.S0On00 900 additional
This Will make the total receipts of
tn" government for the next fiscal wears
$1,000, 100000. or about S3a per CAPITA
AS compared TO Great Britain, with a
population Of less than half of tho
United states. amount, : to s..7oo 900
ooo or abou, $50 per capita
The committee believes that the
American people were never in a more
favorable condition TO pay reason
able amount of taxes for war purposcs
IN addition to those for normal pur-
poses. than At tho present time. The
committee has tndcavored TO distribute
e1uitahly this additional burden of
taxation. and so to levy the proposed
taxes as 10 nccesSitatc as little re-
adjustment or disturbance TO business
as possible"
The committee estimated tho war
expenditures for the remainder of this
and the whole of tho next fiscal year
at about $500. .oro.eoc. exclusive of
the bond issue TO finance the foreign
loan.
we have already authorized "A bond
issue "f $4,000. 900. .00O." il added ITO
provide portion of the necessary
funds to finance war Therefore. tho
amount necessary to raise hy taxation
or further bond Issue at this time is
81 500. 900. 900"
Tho oill to-day is calculated 10 raise.
in exact figures. sl.S1o,42O,OO0
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