New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-05-15
PUBLIC TO PAY $4,095, 100000
IN TAXES FOR WAR THIS YEAR
Secretary McAdoo Complies
With Request From Senate
to Furnish Estimate of
Revenue Receipts.

Washington May 15.-Revised esti-
mates of revenue receipts in the cur
rent fiscal year ending next June 80
place at $4,095, 5,699,0 900 the sum which
the American people will contribute
to the government mainly in taxes
I for prosecution of the war. These es-
Inmates, reported today to the senate
by Secretary McAdoo in compliance
with a request for specific informa-
ton throwing light on future revenue
needs, shows that about one third the
expense Of the war this year has been
met by taxation and two-thirds by
Liberty bonds
The report disclosed that about So
7,1S5,000 will be collected on the
basis of income and excess profits tax
returns on file May 4, about S348, OOO,-
600 more than the yield estimated
when the war revenue law was en-
acted last October, but less than the
$3,000,0 100000 recently estimated.
The total now expected from internal
revenue is $3,643, 500, 900; from GUS
toms, $50, ,O0O,O00; from miscellane-
Gus sources, including $40,0O0,OO0
age, $27o,000,0O0; and from sale of
public lands $1,SoO,O0o. Estimates
of internal revenue receipts last fall
were about $3400,OOO,00O These
figures, although not based on actual
collections, represent quite accurately
what may be looked for from Or
dinary revenue sources this year, the
treasury believes
The report will be examined care
fully by members of congress in con-
nection with the pending question of
whether new revenue legislation shall
be taken up at this session as urged
by Secretary McAdoo. The fact that
its figures are fairly definite is ex-
p'ected- to have some influence with
some members who have argued that
the results of existing revenue legisla-
ton should be determined before new
bills were framed.
Actual collections up to April J. and
estimates of receipts to June 80 now
show that $S6S,714,0O0 may be ex-
pected from internal revenue sources
other than excess profits and incomes |
The taxes are distributed as follows:
From distilled spirits, 1884, $40, 900; |
from fermented liquors, $131, ,434 900;
tobacco, $154, ,909, 900; rectifed spirits, |
So, ,5Ul ,UUU, wines ana liquors, 99, o0o,- |
900; freight, express, telephone, tele- |
graph and other public utilities taxes, |
$67, 7,9S1 900; estate taxes, $50, 900; |
excise taxes on automobiles, jewelry, |
moving picture films, |
sporting goods, cosmetics, proprietary |
medicines, chewing gum, cameras and |
pleasure boats, $36, 3,O00;. admission |
to places of amusement and club dues, |
$3O,79S,O 900; corporation capital stock |
taxes, $24,802, 900; stamp taxes on |
futures, bonds, certificates, bond Sc /
curities and playing cards, $18;564,- |
600; insurance policies, $6,O78,O0O;
soft drinks, $2,5S2, 900; miscellaneous,
taxes on brokers, bowling |
alleys, pool tables and theaters as bus
mess places, s3,237,000; oleomargar-
inc, $2,13O,O0O; compromises on de-
linquents, opium distributors and 9TH
er sources, $1,302,000. From the old |
m munition manufacturers tax, 0,O00,-
600 is expected, and from capital
stock and other special taxes under !
the revenue act of September 8, 1915, |
$2S, S,039, 1000.
Actual collections on income and
excess profits taxes, including advance
payments amount to $47,0S5, 600 and
S2,72S.1O0, 600 is expected before the
end of the year.