The Bridgeport evening farmer., 1917-10-04
8 PER CENT. TAX
ON ALL EARNINGS.
.ExCEEDINC$6, 900.
"Joker" In War Revenue Bill
Adds Heavily to Income
Taxes.

Washington, Oct. 1.-The new war
taxes, designed to raise about $780,
100000 under the provisions Of the
revenue bill signed yesterday by
President Wilson. went into effect to-
day.
In the form of levies on incomes,
excess profits, liquor. tobacco, trans
portation and various Injuries and
amusements, the law either directly
or indirectly affects everybody in the
country. One of the first results is
the advance in distilled beverage
prices caused by an assessment Of
$2.20 a gallon.
It has been estimated by the treas
ury department and the senate fl
nance committee that the law dur
| ing the first year of its Operation will
raise from individual and corpora
ton incomes ss51,000.00o; excess
profits $1,000, e00.0oo; distilled spir-
Its S1S5,000,00O: tobacco, cigars and
cigarettes S61, SOC, 900; transportation
| $50, 0eA 900; amusement admissions
! $50, 900. 900; and automobiles and
motor cycles $40, eco, o 90
/ With the signing by the President OF
| the War Revenue bill, members of
both houses of Congress are awaken
ling to the fact that the individual ex
lcess profits tax, written into the bill
| in the secret sessions of the confer
ence between the two houses, will
provoke great criticism and, they fear,
bring about widespread injustice.
While 1t does not seem to have been
the intention to bring about that re-
suit a literal reading Of the law ap-
/ parently imposes upon every person in
the United States engaged in an oc-
lcupation,,' whether an independent
profession like that Of the doctor or
the lawyer, or the occupation of a
tsa1aried sufoardinate. tax of s per
ifcent. upon all his earnings above 5000
a year. and this in addition to the
4 heavy income tax. 49, s
1 This section, which has all the ear
marks of q legislative Joker" is No.
4 209, levying an 8 per cent. excess
i profits tax. on the incomes of men in
professions and occupations on all
Il money above Sc, coo a year The con-
4 ferees had in mind lawyers making
large fees, contending that the $100-
900 a-year corporation attorney should
: pay an excess profits tax. as well as
"a corporation earning that money
but the effect of the measure is to
discriminate heavily in favor OF the
& man who receives an income from in
tsSSotSu iAioiiCy, LIE Remittance man,
ana the loie ncn with plenty OF IN
come ana no occupation.
ms pat o. leglsiatlon Is the result
. 9. the nervous worry Of the last hours
j u lns eonlerence ana the determined
80. ~ sse 2 PHI III aNeIore Dotn houses
, alsills = Sereaih amount OF money
49, !. Aioss.5 u Soffsr sss now tooh
: pon - - al eAA hpie OF the evils tc
49,. go ION issls,ation framed IN
8 y. sa,.... 49, anu then suooeniy
- ~ aa i.,.o ssen Dranch OF congress
60 .. Z - -, q insn speed
.,a,,sa.,s.a p..as. ins s,t. OF Repre-
~, IS sr,a ,,saa1. snaiIln a OF the
r T4o,,sa 49, 20 elliliiittee OF Inc
aroIIy,d tba rrroa,s,.... vas luroW1
81 eI,ce and inn,,, 80. 20 - 'ne conier
were treated viii 49, 20 'ne Iios. par
4 lgr,,ff rafrsa1 patssd 'esy "
: wire the confarees -. ae-.l pe.r oee
wor,. in the 10 ~ bo,,,ss ao"l - " tneil
excess profits tax For. i,,5,,ri,,,,s,a .. =,
4 will work out as a nenai,zatsn,, ~.
Industry and talent.
a No member OF tho c.onfarono
J Committee claims authorshin ~ +,,t
: section. 1t appears that - xvss ~,