Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1917-10-04

HE OF UNCLE SANS WARS NOW AND OF OIL
The enthusiastic opening of the great popular loan of the
United States for the support Of our war for world freedom
that That Congress Co. res will will, pass pass At tt. 0nse the s new war re- revenue ssGs. BILL ill:
day as a people in patriotic units of billions of dollars.
noDu WE i nOw witness vi the Iss the fh Offering RI 'So BY the ed Tn lit fos States nss of Of =
BBo onds wi isso the OF u nc ,ss rsin s that the issue SvU IN will nHf BE- e ss % Ss"i;
in excess of the figures stated, in the discretion of the secre-
ssF Ss sy s ses ds sssssdr sdv de 81 o"s TSsse q Son nds SSSFi BE- in dsnS%.
nations of $50 and multiples of that sum with interest pay
able semi-annually, on May Is and November 10 respectively.
These bonds are to enjoy exemption extended to all
forms of federal and State taxation except estate and inherit;
United nj States t t''1 Interest : on not n to exceed c! 5000 t%t Of bonds q : will iii
first Liberty Loan at three and one-haif per cent: are convert
i@s a into c tns pfsssnt ;d fSur ssx So So these fh bonds a.U Of IT. the ;.s second dis is
bearing a higher rate of interest.
subject to redemption at the option Of the United States at par
ana accrued interest I after ten years. Only two per cent. of
cent: ;, November Der: l5 > forty per cent u t.o on JANUARY i Il, 1915, and
the balance later on.
for tD pss asw Tss 5sssns' tax %si rs ssJ RsSy1d ss t Il tAs s, fs:t place iSe
posed. The present income tax law, enacted September 8,
thereto war income taxes will be Collected under erG the 1s new eT'I law
t i Individual vi "a an additional iassii normal a + T tax ' of s%e 1 per cent. ma Gn
ing ing . 2 t1tai normal tax Of tour per cent, and on corporations
six per cent on the entire net income Of corporations.
~ Under the war income tax the exemption tiSon will be $1,000
sons and heads of families, Returns will be required Of sin
gle ha persons receiving incomes Of 81 900 { or more, and Of mar
tNCu pcISOuS VI ~ u abilities IL SL,UUU II more. Inc war
YAK T IN getting Ss ias!s ct ps4s ,af'n fsd desS' income 1ss% st tas. e viii Vi 1S BE- nec-
tax allows an exemption to married persons and heads Of fam
lies Of $4,000. The war revenue tax exempts $4,000 and also
$500 for each child under 18 years, dependent upon the par
ent or incapable OF self support, because mentally or physically
In addition to the additional normal tax there is a sur
tax upon individual incomes as follows, One per centum up,
up to % $500 BOO from $500 7sa to $1,000 ! i two f per- cent sts;f from &c. i
ter Bs s ssV5; f' ss9: s1G 1 GOO st sS s?3 3!s% i szs, ese i ss sSo tSSn ss sn Sse
cent; and so on up to 81, 900, when the tax is fifty per
cent.
A person paying a tax on S., 900, for example, would pay
: normal u ! tmt tax x Of two per cent: under the law Of 191e, a normal
tax OF one per cent. under the proposed law, making a total of
The COM orence report provides that the graduate tax Of
1 ne2ahi IN to s % ; per cent; on LEX Excess IS profits profits II s0 Spo;. II ;s,I part;
years Of 1sif. 1912. 1918. The graduated ex xe p rates
Of the e Invested y ed capital taI for the Raet taxable able " YEAR sre snd so Sc on j to pe a maS.
1 n mot Of $ sixty VI per c cent. on profits in excess Of thirty-three
In addition there are war profits taxes, stamp taxes on
parcels = Post packages slaag and indemnity bonds, in addition to
by manufacturers producers and importers of sporting goods,
musical Instruments and jewelry, perfumes and patent medi:
eight eMiat per cent: on passenger Transportation, three per cent. on
t tio e SIR s1sD a ss1ien on d tn Rts I sp;rjt Sn fd 1u1 baveps %sseG 9n1nosss
and $1.OO less for manufacturing purposes, $3.50 a barrel on
m nssr; t tIsn yhlss cents Danndp per THOUSAND fSsandn on Gig cigars 5, Weighing we h not
sand on cigars weighing. over that and to sell for not more
a! cards $ will si' cost t' two @o cents as and f iettsr pr po psSper three e a1ss.
Moving pictures will be one-tenth the cost of admission.
A more comprehensive idea of the sources taxed can be
gained from the statements of sums estimated to result from
each as follows:
nm. Income 9.@S. tax, ss42, 900 900; excess profits tax, $1,11oyooo,-
600; distilled spirits, $135, 00,000; rectifed spirits, $5,OOO,-
600; fermented liquors, $4,000, 900; wines, etc, SO! oooo 900;
soft drinks, syrups, ETC., $14,000,000; cigars, $4,000, 900; Gig
a%rettes, $50, Oo0y 900; tobacco, $3.50 900; snuff, $~1,5ooO00;
cigarette papers, 100000; freight transportation, $77,5OO,-
tation, $500 900; pipe lines, $4,5 SOC, 900; seats and berths,
$~2,25O,000; telegraph and telephone messages, $1,000 600; in
surance policies new, $1,000, 900; automobiles (sale of), $4O,-
100000; musical Instruments (sale of, $4,3 900; motion pic
t lure films, s., 900 o.. 600 ; j je y y (sale by manufacts srec $500
f fun eso and cosmetic, $ 81 goo, 900; proprietary medicines e So
dues, $1,000, 900; schedule A, including playing-cards, $9o,00O-
GOO; war estate tax, S5,ooo,0oo; Virgin Island products, $50:
matter, $4,000 900; total, So, COG, 800 900.
The striking feature about this whole war revenue sit
uation is that the financing of our struggle with Germany is
largely on direct tax or loan basis instead of a customs tar
if foundation. In connection with the war of 1912 there was
little difference between the federalists and donoocrots o. n