The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1922-02-23
1919 GREATEST PROSPERITY
YEAR IN HISTORY OF U. s.

That prosperity throughout the
United States, both individual and
corporate, smashed all records in
the calendar year of 1919, is clearly
Indicated by report Of the Internal
Revenue Bureau, just compiled, con-
tanning figures showing the earnings
of the American people and Of all
Aemrican business during that per-
iod.
While complete statistics are not
yet available for comparison Of the
1919 figures with those of 1920 and
1921, treasury department officials
admit that preliminary surveys are
sufficient to show that the business
momentum of the war period began
to decline in 1920 and has continued
to slacken ever since.
1t is now believed, however, that
the bottom was reached about last
Christmas and that the trend is now
upward again. This opinion has been
expressed in official statements from
the White House and other admin
istration sources.
Among the outstanding facts con-
corning the business done in the
United States in 1919 are the fol-
lowing:
Total net income of individuals
reported to the government amount
ed to the enormous sum Of SIS, 1885,
49l, 44S. This was nearly $4,000
100000 more than the total net in
dividual income of 1918. In all
5,332,760 persons received incomes
in 1919 that were taxable, which
was 907,647 more than received
taxable incomes for the year 1918.
The total tax on these incomes which
was paid to the government amount
ed to $1,269, $3.50, 1O4,263 over 1918,
the last year of the war.
Turning to the corporate earnings
for 1919, the report shows the fol-
lowing:
The total net income reported by
corporations in the United States
was $9,411, 418,5S5, or an increase
of more than $1,000, 100000 over
the previous year. No figures
showing the gross income are con-
tanned in the report. The total tax,
income and profits, paid to the gov
eminent by corporations in 1919
amounted to $2,175, ,779.
The report also contains some in
teresting figures on the income re-
turns from Kentucky. The highest
individual income in Kentucky dur
ing 1919, according to the figures,
was between 100000 and $500,
900. Only one Kentuckian reported
an income that large, but under the
law, the treasury department is pro.
hibited from disclosing the identity
of the taxpayers making certain re-
turns. Two Kentuckians had incomes
of from $4,000 to 5000. COO; eight
had incomes ranging from 100000
to $3.50, 900; four had incomes rang
ing from 100000 to 100000 and
seventy four had incomes ranging
from $4,000 to 100000.
| A total of 59,332 Kentuckians re-
Iported incomes above $1,000; 9,433
reported taxable incomes up to 3d.
900; 1876 taxable incomes between
$4,000 and $4,000; 9,088 taxable
incomes between $4,000 and $4,000;
6,523 taxable incomes between ST.
900 and $4,000, and $685. between
$4,000 and $4,000.
The net income of the people of
Kentucky amounted to $215,977,-
422.
The most money made by any
class was by those having incomes
between $4,000 and $4,000, while the
next greatest amount was made
by those having incomes from 3d.
900 to $4,000. The third group of
Kentuckians, in point of money
made, was found in those reporting
incomes from $4,000 to $4,000.
Kentuckians paid on individual
incomes a total of $7,595,3S4. OF |
this amount $4,568,179 represented
the normal tax and $3,O77,2O5 the |
surtax. In other words, the persons
with incomes ranging from $4,000
to $4,000 paid a larger amount of
the tax collected than did those with
larger incomes.
Corporations in Kentucky report
ed a net income for 1919 of $780,
588,761. This was not, however, the u