The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1923-02-01

will relieve sSneral property from
practically one and one-fourth mills
of tax.
"This will amount to relieving
property owners of from to 8 cents
out Of every dollar of taxes paid in
cities and villages to from 8 to 20
cents out Of every dollar of taxes
paid in country to@ns.
Provisions Of Severson Bill.
l. Retention Of the personal prop
erty tax Offset to the ircome tax.
2. Creation of surtax on all In
comes above $4,000 year.
8. Retention Of the present nor
NAL income tax.
4. Repeal of university, normal
school and common school funds, mill
taxes, and repeal of teachers retire
ment fund surtax.
5. Creation by these surtaxes of a
S6,5o0,000 fund out of which the in
stitutions supported by the above tax
would be financed.
6. Increase tax exemption from in
come tax law from $1,000 to $1,000 for
man and wife; from $500 to $500 for
each child; and retention of present
exemption Of $500 for unmarried men.
z. Leave repeal of the secrecy
clause of the state income tax law to
separate bill.
s. Distribute income tax funds as
follows: All Of money raised under
new surtax to the state; receipts I'M
der present income tax to be dis
tributed 10 per cent to the state; 20
per cent to the county; and 70 per
cent to the locality.
9. New surtaxes to. start at the
$4,000 year incomes for both individ-
uals and corporations.
10. All SURPRISES up to the $1,000,-
600 mark collected under this law to
be reserved as safety fund, to guard
against a slump in income tax rev.
enues. All surplus over S1,000,000 to
be placed in the common school fund.
II. Severson bill will raise $780,
600 a year, relieving property taxes
by the same amount, and money will
finance state education.
Provisions of Dahl Bill.
/. Repeal of the personal property
Offset to the state income tax.
2. Adjustment of present income
tax rates, and establishment of new
and higher schedule of rates, begin
ming at the larger incomes.
8. Repeal of university, normal
school, and common school funds mill
taxes, and the repeal of the teachers
retirement fund surtax.
New schedule providing increased
rates on higher incomes along same
lines as bill announced prematurely
as Governor Blaine's" last week. In
dividuals and concerns not corpora
tions to pay fiat ak per cent rate.
5. Creation by this new tax of a
$6,500,000 fund out of which the in
situations supported by the above
mentioned taxes would be financed.
6. Increase income tax exemptions
from $1,000 to $1,000 for man and
wife; from 5000 to $500 for each
child; and the retention of the pres
emit $500 exemption for unmarried
| men. o.
| z. Repeal of the secrecy clause of
| the income tax law.
! 8. Distribution of money collected
under this new schedule as follows:
( so per cent to the state; 10 per cent
| to the county; 40 per cent to the To-
| eality.
8. All SURPRISES collected under
this tax up to $1,O0O,0O0 mark to be
retained as a safety fund to guard
against slump in income tax rev.
enues. All surplus over $1,o00,000 to
be placed in the common school fund.
10. Dahl bill will raise $13,000,000,
displacing present raising of about
$6,500,OO0 from personal property tax
and like amount from present in
come tax. Fifty per cent, or $780,
900 of the amount raised for the
state will go into the state educa-
tional funds to replace the present
mill-tax revenue.