Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1918-08-20
NEW TAX BILL IS
CLOSE TO LIMIT
OF $8,OOO,OOO,OOO
Practically Complete Draft
Shows Greatest Revenue Bill
in HiStoy-Eveything but
Necessities Included

+ WASHINGTON, Aug. 16.-Within less
than half a billion or its $4,000, 100000
goal the new revenue bill was rapidly
nearing completion today.
The house ways and means committee
still has to decide the excess and war
profits question.
Some few minor taxes will have to
be added. Some of the language of the
bill and perhaps some of the less i'm
portant rates may have to be changed
as the committee writes it's report in
preparation for submitting the bill to.
the house.
But the practically complete draft of
the measure made public for the first
time today, and which will stand in all
its essentials, gives an adequate idea
of the greatest revenue bill in history.
Income taxes are in some cases dou-
bled and in the cases of intermediate in
comes trebled in the present bill as
compared with the one passed by con-
gress year ago.
Exemptions of $1,000 for a married
man, with $500 additional for each 1hild
under eighteen stand.
The normal rate on the first $4,000
of taxable income is per cent. After
that the rate goes up to 10 per cent
WIN the IOllOWluS Schedule VI SuI lehASS.
Scale of Rates
On portions of income between $4,000
and 81 1908 per cent.
Between $500 and $4,000, per
cent.
Between $4,000 and $4,000, 10 per
cent.
Between $4,000 and $4,000, Is per
cent
Between 10000 and $4,000, 20 per
cent
Between $4,000 and $4,000. rs per
cent.
Between $4,000 and $4,000, 80 per
Between $4,000 and 100000. 40 per
between $4,000 and $4,000, As per
cent.
Between $4,000 and $4,000. AZ per
cent. -.st H..
between $4,000 and 100000, As per
cent.
Between 500, 900 and 100000, so per
Between $4,000 and 100000 So per
Between sSOo,OO and 100000, so per
cent
Between 100000 and 100000 IS per
cent. ooo nm N
per cent l-.
Inberitance taxes are boosted more
than 90 per cent and Representative
Raipev Illinois, has warned That ne VIII
lead the fight for a program amountihs
to virtual confiscation OF large esIa1ea
ruben the bill comes before the mousse
inheritance Taxes
The rates agreed upon AFTER an eN
emption of $4,000 are: -oooo G
Fifty thousand dollars 70 %A'0'''O'
per cent So .,..,,so,d dol
lars to S25O,O00, 9 per cent
Two hundred and fifty thousand DOL
lars to $3.50, 900, IL per cent.
-Four hundred and fifty thousand doI-
lars 10 81. 1000 Is per cent
One million dollars to $2,ooO,OOo' 10
per cent. ooo ooo o.
Two million dollars to $S,oOO'OOO' Il
per cent s,oon ooo
-Four million dollars to $5,OOO,OOo, u
per cent. mn %
per cent s,o mn mn
Above 1O,0OO, 900, 40 per cent.
Life insurance policies above S4O'OOo
are included in the inheritance tax Tor
the first time.
Next come luxury taxes hitting prac-
tically everything of everyday life ex-
cept necessary minimum of food and
clothing. ..-,.-. .- -.-..r. ~
On II articles; including jewelry,
monographs, pianos, electric rams
Therrlos bottles, tapestries, athletic
goods. brass ornaments and paintings
regarded by the committee as out and
out" Iuxuries, a tax of 10 per cent is
levied. Platinum jewerly is taxed 10
per cent extra g..
On perfumes. cosmetics and practically
all other toilet articles there is levied
a tax of one cent for each 10 cents in
sale price or fraction thereof. The same
tax applies to proprietary medicines,
Sboyiff Killed and