The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1917-05-10
war TAX Will
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Continued from Page One.
duct public hearings on it and prob
ably make some amendments.
When Democratic Leader Kitchin
presented the bill to the house he an
nounced that general debate would
begin today and that he had hoped
to pass It by Saturday. The bill
is calculated to raise. in exact
figures $1,S1O,420,O0O.
Expected Yield.
It is expected to produce this yield:
Income tax. New war income tax
1892, 700, 900; Retroactive tax on in
comes $1OS,000.000.
Additional excess profits $10S.000,-
900.
Liquors-Distilled spirits 500, 900, =
900; rectified spirits $7,500,000; fer
mented liquors $37.OO0.O00: wines S.
O00, 900.
Soft drinks, syrups, etc. $40, Ooo, 900;
cigars $11,000,000 cigarets $25, 900;
tobacco $50, 1000, 900; snuff $4,000, 900;
cigaret papers 100000.
Stamp taxes, including documents
and playing cards $SS,000,00O.
Increase in customs duties. $780,
900, 900.
Increase in first class mail matter.
$40, 100000 in second class mail mat
ter, $1s,OOO.O0O
nsportation-Freight bills. ST.
500, 900; passenger tickets, ST., 900, 900 (;
express bills, $15,000,000; pipe lines,
S4,500,000 seats. berths and state
rooms, $750.O00.
Electric lights, gas. domestic. tele-
phone service, $S0,000,000.
Telegraph and telephone messages,
81, 00O, 900.
Advertising, $7,500.00O.
Insurance. 100000.
Automobile trucks and motorcycles,
$6S.o0O,0 900; tires and tubes. $12.5o0,-
900; musical instruments, monograph
records, $7,0o0,oo0; motion picture
films. $7,0O0,000; jewelry, $1,000, 900;
sporting goods, golf clubs, baseball
bats, billiard and pool tables and balls,
81. 900, 900.
Pleasure boats, $500, 900.
Perfumes and cosmetics. $4.750.000.
Proprietary medicines. $S,500,000.
Chewing gum, $1,O00,00O.
Admissions to theatres and other
amusements, $60,000,000.
Dues in clubs and other organiza-
tions, $1.500,000.
war estate tax $4,000, 900 ESTIMATED
that the increase will yield $3S, 500, 900
when in full operation.)
600.
Excess Profits.
One of the hardest fights on the bill,
it is predicted, will center about the
increases in the excess profits taxes.
Representative Fairchild. of New
York, who opposed these increases in
committee, and other representatives
will carry their opposition to the SEN
ate If necessary. The committee
explanations of the involved language
Of the bill show that its practical
operation would be as follows:
1T proposes a normal tax Of 2 per
cent on individuals having incomes
$4,000 and 81, 900 If married, or the head
of family. An additional normal tax
of per cent would be added in the
case of larger incomes. At $4,000 an
additional surtax graduated until at
$500, 900 and over it reaches SO per
cent would be imposed.
A married man with $500 income,
for example, would pay a tax Of $205.
1t would be assessed in this manner:
An exemption Of $4,000; a tax of 2
per cent, or $40 on the next $4,000 up
to $4,000; a tax Of per cent on the
difference between $4,000 and $500 or
$40; a surtax of per cent on all over
$4,000 or SIS. A single man with a
would pay $40 at per cent on income
between $1,000 and $4,000; $3.50 at 4
per cent between $4,000 and $500 and
a surtax of $25 at per cent on the ST.
500 above $4,000. r
Surtaxes under the present law do
not begin until $4,000 is reached and
exemptions begin at $4,000 and 81, 900
for single and married persons respec-
lively.