The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1918-09-04
,ATrIEBoRo DAILY REFoRNER; WEDNESDAY. SEPTEMBER 1918

The exemptions under the new bill
are the same as under the old-$1 900
for single persons and $4,000 for mar
1ied persons, with 5000 additional al
lowed for each dependent child under
is years of age. An exemption Of $500
for each dependent incapable of self
support because of mental or physical
disability also is allowed.
The estimated yield from sources
other than incomes and excess and war
profits lincludes:----. u
ITransportation:, Freight, $75,000,-
900; express, $4,000, 600; passenger
fares, s6o,000,0oo; seats and berths,
s5,OOo,o0o; oil by pipe lines, 1880
| oo0
Telegraph and telephone messages,
1$l6,O00,000; insurance, $l2,000,0o0;
! admissions (theaters, eircuses, etc. 1,
| 800, 100000; club dues, 100000
/ Excise taxes, automobiles, etc, $685.
100000; jewelry, sporting goods, etc,
! $s0000,00o; other taxes ON luxuries at
10 per cent, $ss, 100000; other taxes
on luxuries, apparels, etc, above GER
tain prescribed prices at 20 per cent,
$751; ,095, 900.
Gasoline, $4O,ooo,oo0; yachts and
I pleasure boats, $L000,0o0; beverages,
4 81 ,l37 900, 900; stamp taxes, 49,, o00,-
4 900; cigars, $61,36f,000; cigarets
$780,, 100000; tobacco $1O4 100000;
snuff, So, 100000; papers and tubes
: 81 100000 1
f Special taxes: Capital stock, $40,
81 10000 brokers, $1,765.o00; theaters
II etc, +sS2, 143,ne0 mail-order sales, So,
oOO,000; bowling alleys, billiard ant
pool tables, $4,000, 000; shooting gal
+ leries, 100000; riding academies, $50,
: 900; business license tax, $10,000000
manufacturers of tobacco, $4,000
c manufacturers of cigars, ss50,oo0
s manufacturers of cigarets, -S240,000
c use of automobiles and motorcycles
$72,92o, 900.
The report, which will be made pull
, lie today by Chairman Kitehin, e1
planned the provisions of the bill i
detail. 1t said the committee detel
mined what proportion of the cost c
the war this year should be finance
by taxation and by bond, not frol
previous experience, as there was Il
analogy in history, but upon thoroug
consideration of the effect on the m,
rale of the people, upon price inflatio
upon production and upon relatiN
ability of the people to pay taxes no
and after the war.
The committee explained that ii hs
decided upon the raising of $4,000
100000 by taxation because il had a
eepted as a sound fiscal policy the re
ommendation of Secretary Mead
that third of the government
estimated expenditures of $24, o00,0
600 this year be obtained from til
source and the remaining two hir
By bonds. -
While under existing law, only pr
sons of lawful age have to make j
turns, the new bill requires perso
under the lawful age and having
net income for the taxable year
81 900 or over, If Single, or If MARI
and not living with husband or wi
and all married persons living wi
: husband or wife having a net incol
"a of $4,000 or over to make returns.
Ii Partnerships are not liable to pay
come tax but each partner will p
his income tax upon his share of
partnership profits whether distri
uted or not.
The bill applies the war and exec
profits taxes to corporations on
Provision is made to protect eorpo
tions whose invested capital is |,
than $4,000 and those corporations
which invested capit1l is not a ma
rial producing factos.
Increases also were made in /
estate tax which will range from
r per cent to 40 per cent. The inerea
as compared with the present bin t
low: Not exceeding $4,000 from .
per cent; $4,000 to $150,000, 4 to
$4,000 to $250,000, 6 to 9; $25o,t
to S45000o, to -; S450,000 to 4
II 900, ZOO, 10 to Is; $l,00o,0 900 to S2,0(
600, IL to IS; s2,000,0o0 to So ,000,0
II to 90; $3,0oo.000 to $4,000,o00,
to q: $4.o000o0 to $5.0000oo. Is
81; $5,0oo,000 to $s,oo0,o0o, 90 to
SS,o0o,o00 to 100000 % to 30. q
exceeding $10,00o00o, % to 40.