The Hartford republican. (Hartford, Ky.) 18??-1926, 1918-08-23

feet the amount OF revenue to be OBJ
tanned. The committee is watchin,
the outcome of the effort to pass ;
national wartime prohibition meas
ure, which the Senate is to take III
August "a. If a prohibition measur,
is enacted, revenue to be obtained
under the bill will be decreased con.
siderably.
Tax on Liquors.
The new tax on liquors may not be
announced until the bill is reported
/ to the House. but il is understood to
provide a substantial increase on
whisky and other liquors and soft
drinks. a total revenue of $1,000
100000 or more. The liquor tax
rates are being withheld from publ
cation to guard against Withdrawals
of whisky from bond.
The committee finally approved the
tobacco schedule unchanged from
rates heretofore announced.
In the 10 per cent. tax on articles
deemed luxuries above a certain
price it made the tax apply to wo-
mems waists in excess of SIS. in
stead of $40. az previously agreed to,
and to women's hats at Sis, instead
of S25.
Motor boats and canoes were added
to the 10 per cent tax on yachts and
pleasure boats. but exempted motor
the exemption being to protect
thew exemption being to protect
home-built craft.
Considerable interest has been
manifested in the normal tax on per-
sonal incomes, and the committee an
nounced the text of the schedule as
follows:
Normal taxes: Section 21O. That
there shall be levied. collected and
paid for each taxable year upon the
net income of every individual
normal tax as follows:
"a. In the case of citizen or resi-
dent of the United States 10 per cent.
of the amount of the net income in
excess of the credits provided in Sec
ton PIG; provided that upon the first
1900 of this amount the rate shall
be per centum.
"b. In the case of a nonresident
alien, 10 per cent of the amount of
the net income in excess of the cred
its provided in section PIG"
Credits Allowed.
Section 216, as agreed to, reads:
Credits allowed: For purposes OF
normal tax only. there shall be allow
ed the following credits:
"a. The amount received as di-
vidends from corporations which is
taxable under the corporation income
tax upon its net income
"b. Amount received as interest
upon obligations of the United States,
and State. Territory, or political sub
division. or the District of Columbia
&C. In the case of a single per-
so no personal exemption of $1,000.
or in the case Of the head of a fam
lily, or a married person living with
husband or wife. a personal exemp-
ton of $4,000. A husband and wife
living together shall receive but one
personal exemption of $4,000 against
their aggregate net income, and in
case they make separate returns the
personal exemption of $4,000 may be
taken by either or divided between
them.
ID $500 for each person 10Th
er than husband and wife) dependent
on receiving his chief support from
the taxpayer if such dependent per-
son is under eighteen years of age,
or is incapable of self-support be-
cause mentally or physically defee-
tive"
The committee has agreed by a
very close vote to a dinerential of 3
per cent against unearned incomes
and has sent back to the Treasury
The latter's draft for this purpose for
redrafting, with the probability II
may be dropped on reconsideration.
Chairman Kitchin explained that
HE committee has referred its decis-
ion in favor OF an excess profits tax
Of 40 TO 60 per cent after $4,000
exemption and per cent deduction,
10 the Treasury for its approval. He