The daily banner. (Cambridge, Md.) 1897-2008, 1920-04-23
BOOST |NCOMETAx
TOPAY BONUSES
Three Other LeViSS Adopted
BY RepuJ leans.
Big LEVY ON BROKERS'
Ways and Means COMMITTEES of the
House Also Decides to Raise To-
bacco Impost 1s, Per Cent.

Washington, April 23.-A AK on all
stock exchange transactions, equal TO
| brokers commissions, has been agreed
! on tentatively by Republican mem
| bers of the house ways and means
committee as one of the new leVleS FOR
raising money for the soldier bonus
legisIa ion.
Three other levies for raising tho
money have been adopted by the Re
| publicans.
These are l per cent levy On the
| final sales to consumers, new levy
on incomes, probably in excess of So
600, and an increase of approximately
Is per cent of existing taxes on to-
bacco and cigars.
These four forms of taxes would
remain in effec+ two years. The he
publicans estimate they would net
about 81 900, 100000 for soldier relief.
| They will he incorporated in the legis-
lation to be presented in the house for
adoption May s.
Committeeman said the final agree
ment on all details of the relief bill,
! including the methods of taxation,
were open TO revision, but pred ed
the four-fOld plan of taxation would
not be changed.
Treasury experts, working with the
Republican committeeman, estimate
| 800. 100000 a year will be raised by
the sales tax; S2OO.OO0,OO0 from the
stock exchange deals: 100000 $50
from , per cent tax on the part of
incomes exceeding $4,000; and So
| coo 900 by the Is per cent increase
o. tobacco taxes.
C"n'rr:-tep said regardless Of the
form of taxation Ultimately would he
| ne hv the consumer. They eSti-
."a'pa more than So rntr pvrh"n %
! inclnd;rg Wall street. the Chicago
hoard If trade and the New Orleans
Cotton exchange. would be affected
| bv the tax on stock transactions.
The exact levy on incomes had not
been fixed. Members of the commit
zee believe the levy will be fixed al
ner cent on the amount of all in
cores over 5000
Rpnnh3ican leaders, after a meeting
with he insurgents" against the re
I1ef announced the party caHr:7S So
for last n:aht had heen poS+n9""l IN
| Ill April 30 The pn@tnnnemPnt. If vs.
sa'l was necessary because the so
der relief measures were not T.
shane for the conference PIE on ~
The "inSurgentS" ann0rn. q b
stand against certain provisions o.
the bill. especially the tax fcaure was
unaItcred.
Party leaders still predicted the
original plan to bring the bill before
the house May 3. under a suspension
of the rules and limited debate, would
be carried out.
Charges "the millionaire steering
committee of the house supports the
proposal to raise revenues for soldier
relief through a sales tax, so corpor-
atoms which made excessive profits
during the war twill be tenderly cared
for" were made in the house by Rep
resentativeS Henry L. Rainey, Demo
crat. Illinois.
Mr. Sainev said a sales tax would
Increase living costs % per cent and
force former service men and their
parents TO pay at Least one-fourth Of
the bonus.
"Thc tax which the Republicans pro-
pose would he a return to the fuedal
ages" !ainev said. We propose to
tax war profits"
The Illinois members further charg-
ed The Republicans wanted to use the
bonus as a suhterfuge in the coming
election He said they could not hope
to get the bill through both house ana
senate before the election, and they
intended 10 drop It as soon as it hal
been passed by the house