Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-09-10
REVENUE BILL. WILL GIVE
BILLION ABOVE ESTIMATE
Congressman Fordncy, OF Michigan
Says His View Is Predicatcd
OH Last TaN Law.
RESULTS FAR ABOVE MARK SET
Senate Finance Committee Hears
Protest OF Virginia Tonacco Inter-
csts Against Proposed Tax nn
Sales of Cigarettes.
tBy Associated Press.

WASHINGTON. September e.-A bill
lion dollars more than the SS.lli.0OO.-
900 estimated by the House Ways and
Means Committee Will I've raised by
the war revenue bill, declared Repre-
sentative Fordney. of Michigan. rank
ing Republican committee member, in
addressing the House to-day when it
resumed consideration of the measure
Mr.. Fordney said his estimate was
predicated on the returns of last years
bill. which " the basis of the pending
legislation. Designed to raise s3,73o.-
Yielded s44ii 900. 600, and i tha, - the nns in
ternal revenue bureau estimates
another $1,000 100000 will be collected.
was due TO different interpretations Of
the laws provisions. anu does not IN
clude any penalties for tardy payment.
Inequalities and Inconsistencies il,
levyinE taxes characterized as unnec-
essarily high, and charges of waste
in government expenditures were the
speeches by Representatives F'ordney.
of Michigan. and Moore, Of Pcnnsyl-
vanin. ranking Republican members of
the Ways and Means Committee. Both
however,. promised to vote for the bill
in nonpartisan furthcrancc Of American
success in the war. despite their criti-
Committee on the bill. resumed TO day.
were confined TO objections TO minor
provisions.
MOORE WANTS CHAIRMAN
CREf.L "PIrCHED" OUT
Among instances of alleged waste of
government money. Representative
Fordney included certain publications.
issued by Chairman Crecl. of the COM
said. should he kicked out" Repre-
sentative Moore called attention TO tho
aircraft expenditures and cost plus"
Representative Moore. citing Presi-
dent Wilson's revenue address to Con-
gress declared the presidents hand in
the preparation of the bill Is plainly
evident"
AS an inequality. he cited that rs per
cent OF all corporation and income
taxes in isi6 were paid by ten North
crn.. Midnorthern and Western States.
I'VE might suggest" he added, that
me admmisira"m recSHe" sro ts @ asIons
which pay but one-ffth OF the taxes.
States are most heavily taxed"
Vocing one Republican complaint
against the bill Representative Ford
ney declared. This is The first time in
essery ~ tha, nori maiGn nt war did not in
Now is the most appropriate time
for tariff for revenue" said he. Great
IS eoec,ng $S7o per eapta from f@"m'fx rs
4a.ooo.o00 people. and we are collecting
MIR. Fordncy criticized several sec
tions Of the bill. saying that capital
should be more literally defined. and
that the per cent tax should not
apply TO undistributed dividends.
DECLARES ADDITIONAL. TAN
PENALTY on BUSINESS
Capital. he contended. should be re-
garded as the value of a property as
OF March. 1918. instead of the origi-
nal invested amount. Some businesses
particularly many smaller ones. he
said. were organized years ago on
small original Investments. and since
that time have increased in value by
the owners putting profits back into
them. tHL sE,,Ia
Tho q per cent additional tax on
undistributed earnings. provided inn The
bill Is virtually penalty on 3 busi-
ness. declared Mr. Tordney %Ranks
he said. will he prevented from put-
tins money into surplus aud undivided
profits because OF tho higher rate OF
taxation. and that he deClared, ,"is q
serious menace to good banking"
Mr.. Fordney also opposed the pro-
vision permitting either branch Of Con.
gress TO obtain by resolution the tax
statement of any company or, indivld-
ual, declarins such reports unneces-
sary, and calling attention to the fact
that when sent to Congress they be-
come public propetty, .t -
The Senate Finance Committee con-
tinued its heatinRs on tho revenue hill
to-day, The first witness was tisoEge
n A(Continued on Second pags,y sss