The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1924-05-14
review OF
current Events
Changes Tax Bill to
'B,cord With the Views
# the Democrats.
enmARn ~ PIcKARD

EDWARD w. PjCKARD
INKS rs If the Republicans
-a,, 10 before the country in the
.,1spt,al campaign with a tax re-
~, law mainly Of Democratic
&,,r,ng. This if the changes In the
!. measure made by the senate are
~,,ioe3 il conference and if the bill
!. n, vetoed by Mr.. Coolidge. The
.mmrsts then would have gained
]. Il The big political advantages for
Nh they have been striving.
/ vim the aid Of the radical Re
grsn senator's and the two Farmer
!, mttes the Democrats In the sen
!. lot week forced the acceptance Of
simmons substitute tax bill by the
nmltee of the whole, in place OF
Mellon plan. It fixes the surtax
i rlnum at 40 per cent, and the nor
tax rates at 2 per cent on net in
L h. I'd to $4,000, 4 per cent between
i No and $1,000. and 6 per cent above
NM
Under the Simmons SUrtaX schedule
n nte II l per cent applies on income
n tween $4,000 and $4,000, instead of
4 Der cent between $4,000 and $12,-
ii as IN the Mellon plan. and l per
between $4,000 and $4,000, as in
n present law. Tie rates then adj
- by | per cent I'm intervals Of
n nm and $4,000 until &c per cent is
chei N income In excess Of 100000
Dot 10 excess Of 100000. A rate
h 81 per cent applies between $780,
n cod 100000, IS per cent between
0oo0 aud 100000, 80 per cent be-
B Zen $4,000 and 100000, and 40
cent on that portion Of income in
'ess Of 100000.
Next the Democratlc-radlcal Repub-
NJ 10 combination put into the bill the
noTailc graduated corporation tax
he Democratic substitute for the
ae tax. The former provides that
po'ation earnings he subject to 2
tusI TAX Of 9 per cent, and undi.
lN earnings in excess Of specified
5lPlons would be subject to sur.
rs ranging from a fourth Of l per
~ 10 ~ per cent. This would be q
'Dluie for the IA per cent fiat tax
ivy approved by the senate in lieu
"T present tax of l2n per cent or
"'''0n earnings. and the present
'lI stock tax, which Is to be re
~ estate tax is changed to an in.
alVe TAX, and provides that on s
-,''i 10 a husband, wife. child
Nv vlllo' parent. or grandchild O.
,Mo 'Lelt a tax Of per cent UP Il
'"oll apply, with q graduated
On larger amounts M to = mav,
VI 50 per cent of the amount II
VI N'VOO,OOO. These rates shall
& ny - per cent In the cas-,
N n.u "auSIer to a brother, sister
I. or niece OF the decedent. Tn,
~, ~ increased by 70 per cent /,
n, n'' OF a transfer to any othe
IA exemptions are $4,000 70
hi ,5,. r wife, $4,000 for a parent
M ' ~ child or grandchfid, an,
/. Said in Washington. that wifi,
va ~ oOoIldge strongly disar
Ri ne me changes 10 the hin mad
81 r. Una 'ena'e' he Is not likely to vct
a,s, pes some Of the objectionnbI
s, Specially The rornor =" rOnt ,1
ny ,o, .sn and the amendment J nroy i
"a publicity OF tax returns.
Emigration rVm c~"nferees on tn
hD,, Providing complete ePcn ~
n nd , ,s. Immigration after .1u NV
nasp,, u'en. yielding to the earns.
,ass Of President '"[ Co earne'
an.D %elF minds and decided ,
Marc, p''tponement Of exclnsio
State ( Oh l, 1925. This ~ we @HE,"s $40
\ jana, ro'partment time to oT negot Tat
LIB Topl, ''F exclusion by treat
sapG u'a moIllfy the c,tize urs"' /,
Troa for empire considerably. TT !
: The f toT exclusion as agreed Il :
"a ,,o to- o, shall not take .
before exclusion aG until March I"%I :
M ''" tine tie rresjdeI