Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-12-07
INCOME TAX RETURNS SHOW TO-
TAI OF 22,ese NOW IN
AMERICA
WHOLE REGIMENT IN
MULTI-MiLLoNAiRE CLASS
Many Annual Incomes Of $4,000 to
$4,000 per Year-British Millionaires
Total 5154, but Their Greater For.
tunes Many Times outnumber Ours.

=
vision OF the Internal Revenue Bureau
which became available today and will
be published as an appendix to the re-
port Of Daniel C. Roper. commissioner
of internal revenue, show that IN tne
last income tax year, 1915, the num-
Der OF American millionaires Increased
1925 over the previous year
The income tax returns for the year
ending December, 1915. showed grand
total Of 14,771 miuionaires. The re-
turns for the year 1916, show tnat
there are 1885 American mflltona!res.
These figures are not the result OF
census, bat Ire the returns that nave
Welded the government a very large
revenue during the asst year, and they
NAV therefore, be accepted as authen-
TIC. 1t is possible that they are rather
under than over the actual NUMBER
The experts of the Internal Revenue
Bureau, in making the estimate OF MIL
lionaires, employ the simple rule OF
capitalizing the fortunes OF men VINO
nay the tax by assuming that the aver
age rate OF income is around per cent
and beginning with the class OF IN
comes that range from $4,000 to $685.
600 and goiny on up to the last c'ass
under the Law. whic-. IS the income
ranging from $1,000. coo Up. !. is an easy
matter to calculate the number OF mil
honairesL But there Is class OF In
comes ranging from $4,000 to $4,000
a year, and no doubt there are many
miIlionadres within this claas-men
who only get 8 per cent on their In
vestments. or who have periodical re-
verses, and so claim exemptions That
for the time being set them back OF
the million mark.
Regiment Of Multimillionaires.
The class OF multimillionaires is not
SO easily estimated. There are ten
persons in the country who have an
annual income OF over S5,oO0,o0O each.
Reckoned on the rule Of per cent
rate OF income, they are worth $12o.OO0.-
900 each. There are nine persons who
were. taxed last year for an income OF
100000 to $5,000.000. These may be
regarded as having fortunes OF about
500, 600 600 each. There are fourteen
who reported having an income Of
from $3,000,000 to 100000; thirty
four who enjoyed incomes ranging
from s2,0O0,00O, to 5000. 600. If all
persons who in the various classes
made by the income tax law received
incomes ranging from $4,000 up to the
highest class are to be described as
multimill ionaires, we have in the
United States s,7s2 Of them, which h
almoet exactly the strength Of q regi-
ment Of infantry under the new United
States army organization. Z,
The annual blue book of the com
missioners Of his majesty's Inland
Revenue for the year ending March
81, 1916, shows, following the system.
of estimating employed here, that there
are in the United Kingdom 5.154 mill.
Honaires. There is, however, a very
significant difference apparent in the
higher classes. Where the United
States has ten muMimillionaires with
$125 100000 each to their credit, the
United Kingdom has seventy nine.
Where we have nine with S100,000,000
Great Britain has sixty eight. Where
we have fourteen with $75,000,00o to
$100,000,000, Great Britain has forty
five, and where we have thirty-four
who possess from $,o00,6o0 to $4,000
900, Great Britain has seventy three.
To our forty-two who have from $751;
10000 to $50, 00O.O 900, Great Britain has
sixty-one.
Whsrs the Line 10 Crossed.
In the next lower class we begin to
show an average with ninety-seven TO
Great Britain's eighty three, the 1imita
of fortunes being from $25,000,000 to
5 S2,500,000. A striking showing is that
the income talk revenues derived from
millionaires is less than per cent Of
the total revenues derived from taxing
individual incomes.
The fact that collections Of income
were $3.50. 100000 in 1916, as compared
with $67,943.000 in the preceding year,
is held to show the great importance to
the country of this source Of receipts
The Internal Revenue Bureau will pub
lish early in January a supplement- to
the commissioners annual report in
which some very significant percent
ages will be worked out, and the great
number of incomes in the twilight zone
between one class and another and
subject to peculiar ideas of exemption
will be shown. This work, which has
been in progress during the last year,
is regarded as of the highest import
ance. It will be sent to congress for
consideration as the basis for COM
pletely co-ordinated income tax law,
Wilich will probably be enacted in time
to govern the returns for the year 1919.
Tables showing income tax collec-