The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1918-07-17
BIC BUSINESS"
Goes IN FAVOR
or MORE TAXES
National Chamber Of Com
merCe Offers Suggestions,


alternative war profits tax yicldn1
frequently even greater tax, are re
garded in the light OF developments
as assured features of the war reyenu'
bill which the ways and means com
mitiee of the house began framing yes
terday.
All dpubt that the war prosperity o
American business will be levied upor
for the major portion OF the addluona
SSOOOOOO00O revenue wB swept away
when' il became known that the chamber
of commerce oi the United States, ha'
swung into line for this program The
step was taken under the vigorous
leadership Of the chambers president
Harry A. Wheeler OF Chicago
Chamber Makes Suggestions.
The chamber has submitted clever
revenue recommendations to the bust
ness organizations which compose IL
membership for A referendum vote anC
il is regarded as a foregonc conclusion
that the program will he indHhcd al
most unanimously The recommenda
tions are:
That exemptions allowed before
war taxes are imposed should be
ADEQUATE for the safe conduct OF
business enterprises and that power
10 make adjustments that will pre-
vent inequities should be given to
the administrative authority under
the tax law.
That liberal provisions for amor
tization of plants used upon war
work should be made, with oppor-
tunity for subsequent readJust-
ment to correct errors.
Board of Review Planned.
n That there should he limited
number Of regional boards of re-
view appointed by administrative
authority and making recommenda-
tions upon rccommendments.
That there should he equalization
OF federal taxes.
3 That in computing tax income,
corporations should be allowed 20
make two deductions Onterest ana
charitable gifts) which they are
now denied
On condition that proper exemp-
tions and opportunities for adjust
ment are allowed, that a war proiits
tax should be imposed at a high
rate. and should be levied when 1t
would exceed the excess profits
tax
That. upon the present general
has, but with inequalities re-
moved the excess profits tax
should be increased.
To Boost Income Levies.
The rates of income taxes should
he increased and uncarned incomes
,hould be taxed at least as much
rs earned It,.
Heavy taxes upon few articles
of widespread consumption, =,
Haeyy taxes upon selected ii't
Of luxuries. ,u..
Heavy taxes upon a selected h't
of war extravagances,
These recommendations were
framed BY a special committee OF
the chamber,
p,s.rr;n0 TO the S24OOOOOOOO0 to
= raised during the fiscal year th'
ommittee suggests that the best pos
ME scheme of taxation should OF
ouqht in the hope it will raise at leas
B,0OO 100000
Direct Tax on War Profits.
Tn. chief sources OF new revenue a.
utlined by the committee should D'
,e income tax, tax on the eNCes'
{ profits over the present exemption
nd direct tax on all war proilt'
boye a certain return sufficient l,
.rmit business TO be carried on VIII
lfety.
IN taxes and the tax on IuNuries h'
aced upon few articles and that theeA
made heavy in preference 10 hgh
lxes put upon large number oi com
odities. Some suggested consumption
re, are. tea, 20 cents pound; coffee
cents; tobacco, 50 cents; beer SlO
,rrel A moderate tax is proposed OF
4 use of gasoline. Articles cla'Se'
iuxuries include jewelry and muS'ca
struments.
On Changing Back Plants.
Proper allowances from earnings io'
nortization, especially Of plants ere
Id for war work, the committee con
Hers of great importance. It suggest
10 methods In the first place,
Inks that If taxpayer engaged upoi
ar work was not satisfied with th'
rcentaee allowed BY the treasury de
rtment for amortization, he might b'
rmitted to take any higher percentag'
chose, either giving bond for IN
fference in taxes or paying the an
renee 10 the treasury department
here il could be held in a trust iunl
either event the proper Amortization
be determined according to the TACT
sciosed after the end Of the war, wheI
propriate adjustments might be made
Might Issue New Bond
As another subject for discussion III,
tnmittee puts forward 'econom'
nds" An extra income tax, say o
percent, would be imposed, with Z
lvilkge in the taxpayer TO avoid thi
bitionalPtax by buying three or tou
~ Il, amount in "ecotusy bonds.
- bonds would be registered an'
k.transferabe until after the war
CsI - .-i:...kI. for rediecOuut a