The Bingham County news. [volume] (Blackfoot, Idaho) 1918-1930, 1921-06-10
INTRODUCED NEW
REVENUE PROGRAM
Congressman From Minnesota Makes
Distinction Between Earned"
and "Unearned" Incomes.

Congressman Oscar +. Keller OF
| the fourth district of Minnesota has
introduced into the house four reve-
nue. bills.
The first bill repeals all existing
transportation and sales taxes eX-
cept those of tobacco, distilled spir-
its, OleOmarglrine, habit forming
drugs and products of child labor.
The bill also repeals the excess profit
tax and the ten per cent tax on the
incomes of corporations.
The second bill amends the income
tax law so as to distinguish between
learned" and "unearned" income.
The tax on "unearned" income to-
gether with the super taxes is retain
ed, but the tax on earned incomes
is cut in two.
Earned income is defined as in
come derived from personal services
or from business personally conduct
ed
"Unearned" income is defined as
income derived from rents of land or
other property, interest on mortgages,
notes Or bonds, dividends on shares
of stock whether in the form of mon
ey or stock dividends, and from any
source other than from the labor,
skill or business or industry person.
ally conducted by the person receiv-
ing the income.
The third bill amends the inheri-
tance tax. Beginning with estates Of
100000 to $4,000 there is tax of
one per cent; $4,000 to $4,000
two per cent; $4,000 to $15O,O00
four per cent; $15O,OOO to $25O,OOO
six per cent. The taxes then gradu-
ate on an increasing scale until the
point Of 100000, 900 is reached, af-
ter which the tax is 80 per cent.
The fourth bill provides for tax
of one per cent on land values in ex-
cess of $4,000, after exempting
buildings and improvements, and in
the case of farms, cost of clearing,
and draining and maintenance of
fertility. This bill aims to tax
monopoly holders of natural resourc-
es, valuable ''sites" in cities and the
holding of land out of use. The ex-
emptions are so applied to farms as
to exempt from taxation, according
to Mr.. Keller's estimate, approxi-
mately SO per cent OF all actual
farmers.
The four bills are sponsored by the
Committee of Manufacturers and
Merchants on Federal Taxation,
national association OF business men
of which Otto Cullman, 1346 Alt
geld Street, Chicago. is chairman;
and by the Farmers Federal Tax
League of which Lieut. Gov. George
F. Cummings Of Madison, Wisconsin,
is President.
Accompanying the bills Mr.. Keller
presents a detailed estimate showing
that the three bills together with
customs and other miscellaneous rev.
enue. would raise funds sufficient to
meet the government budget, and in
addition, provide sinking fund
which would pay off the government
debt in thirty years
In statement to the press Mr..
Keller says, my revenue program
will relieve producing business OF
$1,73O, 100000 annually and the
people of from three to five times
this amount in inflated living costs"
Il am in favor" says Mr.. Keller,
OF the removal of all taxes on bust
ness and industry, including the ex-
cess profit tax and the corporation
income tax, but only on condition
that my revenue program is accepted
in it's entirety. If my new revenue
bills are rejected l will withdraw my
amendments repeating the corpora
| tiOn taxes