San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-19
INCOME TAXES
WILL NOT PAY
DEBTS Of j. s.
Won't Pay Interest and Up
keep Of Veterans
Bureau.
1922 BILL ENORMOUS
Nation Depends on Other
Revenue to Cover In
debtedness.
1872 BILL ENORMOUS
BY HARDEN COLFAX.

DOWNRIGHT, by The Sen Antonio Light.
Washington. ID. C., March H.
The nations $500, 100000 income
tax bill for 1922, the first installment
of which was collected this week from
about 100000. individuals and cor
porations, is insufficient. by about
100000, to pay the interest on the
public debt and the upkeep Of the
veterans, bureau, two Of the immedi-
ate obligations arising from the World
War. 'se
Analysis of preliminary returns re-
ceived by the Treasury Department
and the budget bureaus estimate OF
governmental expense. shows the EN-
tire cost Of running the government,
less these two items. is to be met by
revenues obtained from the tariff and
miscellaneous internal revenue chief
ly. with receipts from other minor
sources filling in.
Estimate Is Conservative.
The treasury's estimate of $780,
000.0 600 in income tax receipts March
10, however. are regarded as conserva-
tive by many private tax specialists
here. The belief is expressed private
ly that the final figures will show an
excess over S40O, 000, 900.
Receipts this week indicate that the
total to be collected by the government
in income taxes this fiscal year. will
surpass 81 800 100000 by a few mil
| lions. The effect of last years reviv-
ing prosperity is hardly felt in this
! fiscal years receipts. The reason
assigned for this by treasury officials
is that real prosperity did not start
until the last shree or four months Of
1922.
To Collect Rack Taxes.
Approximately 100000. 900 in back
taxes, it is stated, will be collected
during the present fiscal year. The
| sum has been popularity stated in the
| neighborhood OF 5000, 900 900, but that
| figure, officials said today, Is incor-
rect. The higher sum represents col
lections, plus assessments on tax re-
turns going as far back IS 10IT. and
many firms owing are out of bust
ness.
Federal tax collectors are on the
| trail of the skilled workman who
earned high wages in 1922, but failel
to make out income tax returns as
required by law. Reports have reached
| the treasury that many thousands Of
wage esrners of this class failed tn
report their earnings TO The govern
ment or. to pay taxes
Estimates Arc Revised.
Estimates of waat the tariff will
I,;,. Lzn,. h.
last estimate was $3.50, 000, 600 for the
year. The new estimate boosts this
figure by S20.000.000 and il collec-
tons continue to come in as fast as
they did in February, another upward
revision will be in order soon. Feb
ruary receipts Appropriated S4S.00O.-
900, indicating total collections of
nearly 100000, 900 for the year.
Miscellaneous internal revenue re-
ceipts, consists largely of taxes on to-
bscco, distilled spirits. stamp taxes,
taxes on estates and corporation stock
taxes. will hardly exceed the $780,
600. 900 originally estimated, treasury
officials said todny. Although during
recent months, the tendency has been
for such receipts to 60 slightly above
the amount figured on in advance.
Other miscellaneous receipts. down
in the estimates fer about $500, O00.-
600. may be exceeded. although II is
regarded as unlikely that they will be.
Expenses Are Climbing.
With interest on the national debt
reaching $f.100.0O0,0 900 and mainte-
nance of the veterans bureau climb
ing up TO an estimated sac, 000.0 600
for the year. these miscellaneous re-
ceipts. plus the income from the tar
if. are counted upon as furnishing
the money necessary TO carry the gov
eminent during the yenr.