The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1918-08-27
TAXES
AWAY Up IN
REVENUE BILL
WHISKEY ASSESSED
AT $40 A GALLON
Moore Plan For the Elimina-
tion of Extravaganza
Rejected


WASHINGTON. Aug. 26.--nffcrcnces
bet wcrn tho tr.a asury and :hc house ways
and means committee as 10 tho lcvying
OF q : Der cent dirrrcntiaI on unearned
incomes appeared tonight in b" the only
obstacle To completion of the drafting of
the rrvcnlIr bin resigned tn rais': SN.nOh.-
6no. 400 10y iaXatidn in the present fiscal
year.
steps toward bringing about IN agree
meni br;wrcn III" committee and the
treasury were, considered 1T u confer
enrr tu-day between Chairman ktchin
and Secretary McAdoo. Another confer
enc" will b. held tomorrow. frrausc
Of the temporary Disagreement. Mr.
KItChin Tonight INDICATED that thr COM
mlttcc might not br able I" report tho
bill /" rho house before Friday. instead
Of Thursday. rs had been planned.
Moore Plan Rejected.
Cuncidrnt with negotiations started in
The senate between prohibition and anti
prohibition leaders to postpone the ef-
rrction date "f the war time national
prohibition measure TO be taken up soon
provision of the revenue bill dealing
with taxes IN Intoxicating liquors be-
came known.
was marked by an attempt by Rcpresen-
tativr Moore, Republican. "f Pcnnsyl-
vania iu attach 10 tho bill an amend
mcnt authorizing the appointment OF a
joint congressional committee TO CO.
operate with th" President in eliminating
waste and extravaGance in the conduct
Of the war. The plan, which would
have authorized joint committee OF SIX
members Of tho senate and seven MEM
brrs Of the house to confer with the
President and heads Of departments on
all matters relating TO war expenditures
reporting 10 congress. was rejected by
the committee by n strict party vote.
McAdoo,s Contention.
In the controversy On the uncarned
income difrcrentiaI. Secretary McAdoo
has cont ended that failure u make tho
normal taxes as high as l. per cent
on earned incomes and IL per cent on I'M
rarnccd incomes. tho former rate being
on incomes derived from labor and per-
sonal exrrtion. may impcril tho success
OF the next Liberty loan. The commit
tee has fixed the rates at 10 and lS per
cent. hu, II has been stated opinion is
against writing into tho bill any provi-
sionS which might endanyer the Liberty
IDHH IcDlN tnt NbN 'S''
) inittrr are understood 10 have nErecd
that tho difIcrcntial is not To apply 10
incomes below $4,000 or above $4,000.
"Thn committee discussed number
ar things today. including provision
rcSn riding inadmiSsahl" assets III the
calculation nf capital under tho excess
profits tax" Chairman Kitchn said at
the close of tho session. "1nadmiSSab b!"
assets includ" stocks and bonds other
than Init cd States obligation from
which income and dividends arc not
used in computing invested capital.
May BE Modified
Tho bill as tentatively agreed upon
provides that borrowed capital 70 the
extent that il is vested in commonly
termed lnadmissahc assets may he
credited AS part nf the invested capi-
ial Til" COMMITTEES prpbably Will
modify This provision IN meet tho oh
lection raised In The committee that it
woud permit companies with largo
bonded indcht rdncsS to carry municipal
and other bonds and thus obtain unfair
credit Tor an over amount nf invested
capital.
High whiskey Tax.
Tho schedulc for the taxation Of hoy
"rnsrS proposes that all distilled Spir-
It's either in bond or produced nr I'M
(Conttuued on Page Teu-)