Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-05-10
Is, MORNING JOURNAL .pso,.. .s..so Was,

| WI, nhhy Hcs4 Wal tdA
bill extending its excuses to the fab
ric of every American home was for
mally presented to the house today by
the ways and means committee with
plans for quick passage.
| AS a forecast of what may come
later, it proposes special taxes to raise
$500 100000 in addition to the pres
ent normal revenue of $500. 600, 900.
When its terms are effective the
American people will be paying d.
rect taxes of $33 per capita. The
people of the British Isles--half as
many-now pay per capita OF $50.
| While the principal features of the
new war levy are the increases In in
come and profits taxes, increases In In
ternal revenue rates and increases Of
customs duties. many provisions reach
the innermost structure Of every home
and make up list of taxes, probably
the most formidable ever faced by the
American people.
Hits Everything Hard.
4 Tho household light, Feat and Ae-
phone bills, admission tickets to
lamusements, fire and life insurance.
railway tickets, automobiles. automo-
bile 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.
Increased postage OF newspapers.
arranged in a zone system are such
that publishers say they will force
many newspapers out OF business. Al
ready protests against many features
of the law are pouring In. and attacks
upon it will center in the public hear
ings before the senate finance COM
mttee.
Democratic Leader Kltchin an
nounced that he hoped to pass the
bill by Saturday.
In presenting the bill, the ways and
means committee made report say
ing in part:
! Report on Bill.
after carefully considering the
experience of the European countries
at war the committee believes 1t Is
found economic policy for the pres
ent generation to bear fair portion
oS the burden of financing the war
and recommend that the remaining
contemplated expenses of the govern
ment for the remainder of this and
the whole of the next fiscal year be
raised by taxation. The effect of this
recommendation is that about one
half of this contemplated expenditure
will be mex by taxation and the other
half from the proceeds of bonds.
"It is estimated that the receipts of
the federal government. including
postal receipts for the next fiscal year
under existing law will amount to
$1.50O, 100000. The proposed bill Is
estimated to yield during a twelve
months period of $1,000, 100000 s.ddi-
tional. This Will make the total re-
ceipts of the government for the next
fiscal year sS,300.OO0,O 900. or about
$33 per capita as compared to Great
Britain, with population less than
half that Of the United States. whose
receipts, including postal receipts, for
the year ending March 81. 1917,
amounted TO $2,7g0,00U,0 900. or about
, $50 per capita. a.N g
Can stand the Taxes.
| Inc COliHiitttc DciStS6 stioS tu0
American people were never in a
T,ore favorable condition to pay q
reasonable amount Of war taxes. The
committee has endeavored to dis
tribute equitably this taxation" +'o.
The committee estimated the war
expenditures for the remainder of this
and the whole of the next fiscal year
at about $4,000. .O0O. 900. exclusive Of
the bond issue to finance the foreign
'oans.
We have already authorized q
bond issue of $4,000. 300, 0,000." It ad.
ded, ''to provide a portion of the nec-
sary funds to finance the war. There
fore the amount necessary to raise by
taxation or by further bond issue at
this time is $500, 900. .o00"
The bill today is calculated TO raise,
in exact figures, s1.s10,420,000. in
cluding:
Where Taxes Arc Placed.
Income tax, new war income tax,
s532. 700. .000; retroactive tax on In
scomes, $10S, 900, 900.
/ Additional excess profits. 0S,000,-
600.
] ! Liquors-Distilled spirits, 100000
900: rectified spirits. $7.600.oO0; fer