The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-05-12
Nh TAX BILL COMPLETED.
MANS AND MEANS COMMITTEE
Lars MEASURE BEFORE CON.
oRESs NOR ACTION.
tyoeeApslly Every Article Of Social and
Ooumsrcsal Use wnl be Taxed In
OeinH - Help Defray Gigantic E;x-
penees Incurred by War-Wnl
MaiBe Two Bnhion Dollars.

'|. .|.. |IIN.
Warrington. May s.---Thc war tax
htll. extending its excises to the fabric
of every American home. was formal
~ presented to the house today by
I. <11o ways and means committee with
\ blnne for quick passage.
~. ~ forecast OF what may come
1n1er. II proposes special taxes to
sons $780, .ooo,o 900 in addition to the
I, pfooent normal annual revenue of ST.
ooo.oo0,o00. When It's terms are ef-
}. l6etive the American people will be
payins direct taxes of ss3 per capita.
N The people Of the British Isles, half
4 - many. now pay per capita taxes
81 $50.
/. .%Whiie the principal features of the
y new war levy are increases in income
A oh1 pronts taxes. internal revenue
4 roses and customs duties. many of its
peovinions reach the innermost struc-
(, (ote Of every home and make up
~ OF taxes probably the most formi-
nbls ever faced by Americans.
The household. light. heat and tele-
yoone bills. admission tickets to
\ amussments. fire and life insurance,
railway tickets. automobiles. automo-
b1ls tires and tubes. soft drinks. pos
4ee rates. golf clubs and baseball
hats. club dues and host OF other
every day necessities or luxuries come
under the taxation.
Increased postage rates on news
papers. arranged In q zone system, are
such that publishers say they will
4orce many newspapers out of bus
nss. Already protests against many
toatures Of the law are pouring In and
( eetacks upon II will centre In the SEN
ots nnance committee which will con-
otet public hearings and probably
make some amendments.
Democratic Leader Kitchin
presented the bill to the house today
- announced that general debate
: would begin tomorrow. 1t probably
WI bs passed the early part Of next
week.
IN presenting the bill the ways and
means committee made report say
Inc in part:
after carefully considering the ex-
pcrisnce Of the European countries at
war. the committee believes II II sound
eccnomic policy for the present gen.
GRAFTON 20 bear fair and equitable
portion Of the burden of financing the
war and recommends that the remain
Ing contemplated expenses of the gov
srnmsnt for the remainder of this
and the whole OF the next fiscal year
b raised by taxation. The effect of
this recommendation is that about
ono-hsif OF this contemplated expsn-
diture viii be met by taxation and
the other half from the proceeds from
the bonds.
at is estimated that the receipts
Of the federal government. including
postal receipts for the next fiscal year.
under existins law will amount to
$500. .oo0.oeo. The proposed bill IL es-
tlmated to yield during q IL months
period $500. .o00. 900 additional This
viii make the total receipts of the
government OF the next fiscal year s3.-
3eo.ooo.Oo0 or about s33 per capita, as
compared to Great Britain with a
population less than half Of the Unit
% States. whose receipts including
postal receipts for tho year ending
March 81. 1917. amounted to s2.7s0.-
100000. or about $50 per capita"
The committee estimated the war
expenditures for the remainder of this
and the whole Of the next fiscal year
at about $500. .oo0. 900. exclusive OF
the bond issue to finance the foreign
loan
we have already authorized a
bond issue OF $4,000. 900. .o0o." It ad-
ded. ito provide portion of the nec-
essary funds to finance the war.
therefore the amount necessary to
raise by taxation or a further bond
Issue at this time Is $1,000. 900. .OOO."
The bill today is calculated to raise
In exact figures s1.sIo.42o.Ooo. 1t is
expected to produce this yield:
Income tax: New war income tax
ssss,7oo.ooo: retroactive tax on in
comes s1os. 900. 900.
600.
Liquors. Distilled spirits 500. .OOo.-
600; rectined spirits $500, 900; fer.
msnted liquors ss7. 900 900: wines Sc
600 non