Norwich bulletin., 1921-09-23
AMENDMENTS PROPOSED
 TO TAX REVISION BILL

Washington. Sept. o9. 22.-Reductions in. the normal tax rates on individual incomes of S15,000 or less and a grad uated tax of from 10 per cent. 10 26 per cent. on the incomes of corpora tions in place of the suggested fiat rate of 15 per cent. were proposed in amend ments to the republican tax revision bill offered today in the senate by Sena- tors Walsh of Massachusetts. and Gerry. of Rhode Island, democrats on the f. nance committee.
 To make up the s105. .Ooo. .ooo loss from the tax on individual incomes. it was proposed that a tax of one cent a gallon on gasoline be imposed at the SIrrce and that the capital stock tax. yielding around S6O.OoO.O0Q annually he retain cd. The majority bill provides for re- peal of this tax, effective in 1922.
 Under the Gerry amendment. individu- al taxpayers whose net income is less than s5.Oo0 would pay a normal rate of two per cent. instead of four per cent on S4,0oO as provided in the revised bill {: taxpayers whose net income is between 8 1000 and s1o,000 would pay a normal tax of four per cent. on the excess over S, ooo. instead of eight per cent. on all over s4.0Oo, and taxpayers whose net income is between s10, 900 and 5000  On the excess over S10,0o0. instead of eight per cent. on the excess over s4.- 900.
 Incomes in excess of s15.00o would pay at the rate of eight per cent. on all over that amount but, it was explained. they would receive the benefit of the lowest normal tax up to S15.0oo. The sur tax rates as fixed by the finance com mittee would remain unchanged.
 Under the corporation income tax amendment offered by Senators Walsh the rate on the first S1O0, 000 of corpora- ton net income would be 10 per cent. that on the income between s1oo ao0 and s3O0 O0O would he 15 per cent. and that on the income in excess of S3o0,o0o would 1 be 2O per cent.
 | issued by Senators Walsh and 1 Gerr. Twill reduce the tax on the net income of 195,OOO corporations upon which the republican majority bill in- ' creases the tax from 10 per cent. to 15 per cent, while it increases the tax on | only about 100000 corporations which have net income of more than $500, ,00C 1 each year.
 The fairness and advantage to all l corporations of this graduated corpora | tion income tax. if the excess profits tax [ is to be abolished. are self-spparent i Experts in the treasury inform us that | this graduated income tax. which w | propose in lieu et the excess profit. tax and the fiat IS per cent. corporation | income tax will yield an amount substan tially equal to that contained in thu bill of the republican majority.
 "We believe our programme is mor' 1 equitable because 1t provides that cor porations like individuals of small in
 comes shall bear less tax burden thar those corporations with large incomes.
 Discussing the proposed reductions il l Wthe normal income tax rate on individ ual incomes below S15,oO0, the state ment said:
 This change will reduce materially tn tax bills of over 5000, 900 taxpayers. il plan of cutting. in addition to Lowering the sur-tax bracket the high sur-taxe from taxpayers whose income is owe
 s66 900, which affects not more thai
 5000 of the wealthiest class.
 The loss te the government by ou
 plan will amount to about S105. .000 .0OC
 yet the republican majority have wit
 one fell swoop eliminated the exces
 profits taxes and thereby reduced tn
 revenue of the government s450, 900 ,OOi
 There should be no reduction of tn l
 publican ma jority. leading to such tre mendous reductions in the needed reve
 nue of the government in the interest c
 excess profit making corporations with
 out providing for just and equitabl
 reduction to the individual whose incom is less than s15.000.
 The statement by Senators Walsh an
 Gerry was concurred in, it was ar
 nounced, by Senators Simmons and Rec
 the other two minority members of tn
 finance committee now in Washington
 It made a general attack on the tax rC vision bill as reported yesterday by tn
 finnace committee, declaring the measuT . to be "unsound, inequitable and inds : fensible."
 The bill,' said the statement. retain . and continues in the main, all the annoy ing and burdensome income and other ia provisions of the old war revenue bil
 The people of the country want and al entitled to a peace plan taxation prt gram.
 'The bill will continue to subject ot . people to the annoyance uncertaint:s
 and burdens of taxes that only war COT ditions justified. To lift the burden , 2 taxation from those that are best ab to bear it has apparently been the so l consideration of the republican majorit