Evening journal., 1918-08-05
4 BILLION MORE in
TAXES NECESSARY
All Schedules May be In
creased to Make Up
the Deficit
LIQUOR REVENUE
PROBLEMATICAL ONE

The Ways and Means Committee
which Is drafting the new Ss,000GO0,00C
war revenue bill, still has si,0000O0,0OC
in revenue TO find before II can report
the new tax measure TO Congress late
this month.
The new schedule OF taxation so far
decided upon by the committee Will
yield only about one-hslf Of the amount
needed for the coming year, according
to the committees estimates. The bill
as far as written by the committee,
provides for the following:
Excess profits and corporation income
taxes ranging from 20 TO so per cent
A normal individual income tax OF
10 per cent
Greatly increased manufacturing and
excise taxes on motor vehicles, gas0-
line and tobacco In all forms.
A greatly increased tax on brokers.
Double taxes on theatres and admis-
sion tickets and club fees and dues.
A greatly increased inheritance tax.
The total estimated revenue from all
Of these sources, although the rate Of
taxation has been more than doubled
over the existing law, is only $1,000
100000, leaving one-hslf OF the revenue
stlll to be found.
The committee, In addition TO the
above schedules. expects to adopt a
schedule Of taxes on luxurles, clothing
and household goods that will yield an
addition s2OO0OO0,0O0 1t also still
has to decide upon the schedule Of
surtaxes on individual incomes, and
this is expected to yield less than
$500 100000.
The best estimates Of the commit
tee, however, place the total revenue
from all sources so far decided upon,
and from those the committee has
under consideration, at only a little
more than s6.OOO0O0,OO0.
The schedule Of excise taxes on beers, |
vines and distilled liquors. which the
committee Will adopt as the last sched- |
Ie TO be written into the bill, Will |
'ield nearly S900,O0O,000, according to /
he estimates of the committee. The
however, is facing the
trong possibilities that all alcoholic
beverages vii be legislated out Of ex-
stence before the new bill becomes
law. and the committee members are
low casting about for other sources of
evenue TO take the place Of beers.
vines and whiskey.
After the taxes on luxuries, clothing,
household goods, whiskey and beer and
he surtaxes on incomes have been de-
,ided upon, the committee still Will |
nave 10 find some sources Of taxation |
Tor nearly S2000.OO0,OOO revenue, in |
order to make up the entire $4,000, 000,- |
900 which the Treasury Department
told the committed Il must have TO help
pay the cost Of the war during the
next year.
Chairman Kitchin has expressed the
opinion that s6,500,OO0.OO0 will be suf-
hcient revenue for the coming year and
has said that the bill as finally re-
ported to Congress by the committee
will not provide for a larger amount,
the recommendations
Of the Treasury Department.
According to Representative Moore. /
1f Philadelphia leading Republican
member Of the committee. the members
# that body will not consent TO re-
PORTING a bill that would yield any
um less than the ssOOOOOOO0O He
aid today that after the Injuries. sur
axes and other schedules still to be ,
ecided upon have been written into /
he bill, the entire measure will be gone f.;
yer again. and the schedules changed
o as TO provide the nearly $1,000
10000 that II will be short
The committee is undecided as 10
'hether to adopt a straight war profits
TX on strictly war profits, In add
on to the excess profits and corpora
IN fnronqna faxes or 10 increase all
( the schedules that have been
dopted, in order to make up the
elliott