Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-05-09
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TO War Chest.
NEW REVENUE MEASURE
APPROVED BY COMMITTEE
Designed to Raise 81 ,8O0.OO0,OO0
by Taxation During
Coming Year.
MANY NEW SOURCES FOUND
Under Proposed System, Ncwspn-
pcrs VIII Bear SiD,O00,000
More OF the Burden.
inr A..nciatcLrrrn.. A

Try Associated pr-s~l
WASiiN';TON. May S.--.A var rcvc
= nuc hill designed to raise Sl.soc.ooo. 600
hy taxation during tho coming year
was approved finally In tho House
Ways and Means Committee late to-
day ny unanimous vote. Chairman
Eitchin announced that tho measure
Will be reported TO tho House to-mor-
row to bc brought up for consideration
on Thursday. Tho Senate Finance Com
mittcc will begin public hearings on
tho bill on Friday.
To brin. the amount to hc raised UP
TO tho desired total, tho House com
miitcc at to-,iay's session wrote into
the bill Hat increase Of 10 per cent
in all existing tariff duties and 10 per
cen, duties on all articles now ad
mittcd frcc--aii estimated 10 brin= in
$40. 900 o0Q. this more than doubling
the present tariff revenues In addi-
tinn. 1t was decided 10 maze all income
tax increases retroactive. beginning
with the present calendar year. other
taxes provided for would become cf
fcc,ivc upon tho signing OF the bill.
The income TAN increases applying
to both personal aud corporation in
comes. are designed to produce S133.-
100000 more than the present income
tax receipts.
LEyIEs WILL REACH
INTO MANY NEW SOURCES
Most OF the new revenue viii come
from the income. excess profits aud
inheritance taxes and additional tariff
duties but the icVies of the bill would
reach into many other sources. Letter
mail rates would be increased from
10 cents an ounce, and postal cards
fro m Nyh
would hc added to charges against
newspapers under a new system based
upon the present parcel post zones.
Internal revenue iaHcs upon liquor and
tobacco would he materially Increased,
and there would he taxes on ainuse-
mcntS. and stamp taxes OF vide scope.
The war incomr tan section would
double the present normal tax OF
per cent on individuals and per cent
on corporations. I. would lower the
exemption OF individual incomes from
$4,000 TO $1,000 in the case Of married
persons, and from $1,000 TO $1,000 for
| the unmarried. In addition. beginning
with incomes az S5.ooo. graduated
supcr,axcs would he imposed in addi-
ton TO the normal per cent. bringing
i; up 10 SO per cent on all incomes
over 100000 Il year
sIRTAN SCHEDULE A.
FINED BY COMMITTEE
The surtaN schedule follows: per
cent. from s.. 900 TO S, 800; : per cent.
81. 800 TO $4,000; ) per cent $4,000 20
$1,000; ( per cent. ZOO To $4,000;
:, nc. cent. $1,000 TO >2o,ooo; 6 per
cent 100000 TO 10000, per cent.
$4,000 to sso.o0o. II per cent, sto.ooo
a 10 $4,000: !; per cent, 10000 10
sloo. 900; l. per cent. Slon, 600 10 Sl5e.-
400. 20 pcr cent sl5unoO 10 100000.
"A pcr cent 100000 TO s25",o0o; >,
per cent. sa5 y00o 10 $500, 600: 80 per
cent, 100000 10 iJ0r.0o6. $3 per cent
on all exceeding 100000.
The provisions recurring tho normal
tax OF individuals TO he deducted and
withheld ~ the source of income would
not apply To the new normal tax pre-
scribcd in this bill until after Jan
uary l. 1915 and thereafter only 10
incomes exceeding $4,000.
In addition 10 the inheritance tax
now in force the bill imposes :, tax
equal to the following percentages OF
it's value upon the transfer OF each.
net estate.
one half OF per cent Of the amount
not in excess OF $4,000; per cent
between o.oOo and si5oo00; ~. per
cent. 100000 and s25o,oo0: per cent.
s:5o.00O and sijO.04o; ~ per cent.
slao 900 and $1,000. .0oo, per cent,
81 900. 600 and $1,000. .00,: SO per cont,
s., 0o0. 900 and S3.l0o.00c; { per cent.
$4,000. 600 and 100000 -. por cent.
81. .o1o.U 900 and $4,000 900; per cent.
So. 100000 and sS.000,00l; per cent.
SIS 900, 900 and sl1.)oo,ooo: 10 per cent.
81 900. 900 and s15.oO0,0o'; ID per cent,
81 ! 600 600 and over.
EXEMPTION rs LOWERED
AND NEW TAN LEVIED
Tho exemption is lowered from $jt.-
600 to $4,000 and new tax Of | per
cent levied on estates between $4,000
and $4,000
The bill proposes to bring in $500
100000 by doubling the present per
cent tax OH excess profits.
On distilled spirits the present tax
of SI10 per gallon is doubled to tho
rcctiier's tax. IL cents IL gallon Is
added. and fcrmcntcd liquors are as
scSscd S275 per barrel, instead Of
i5o.
The tobacco tax Is doubled. except
as TO cigars. which arc graduated from
90 cents TO $40 a thousand. according
10 retail value. Cigarettes, made in
Continued on Second Pagc0
II Ia n Errnt comfort to get "a good
trnt ON n fast through trnln bctwccn