Evening star., 1925-12-13

The features Of greatest general in
terest are as follows:
Personal 800 for a
single man and 50 500 for the head OF
a family, as against $1,000 and $2.500
respectively under present law.
Normal taXes-One and one-half per
cent on the first 1000 of taxable in
come. 3 per cent on the next $4,000
and 3 per cent on everything above
$4,000. The present percentages are >
and 6.
Earned income--The first S.. 900 of
income is automatically regarded as
earned and SIS 900 additional may be
so proven. From the tax due on earned
income a deduction Of 25 per cent Is
allowed.
Surtaxes-New rates, commencing
$4,000 to $14, 1000 and mounting to
20 per cent on incomes above 800 900.
The present maximum Is 4G per cent
on incomes above 100000.
Estate taxes-A tremendous slash
(see text of bilD.
Excise taxes-The nuisance taxes al
| most eliminated. Many other elimina.
| tions, and many heavy cuts
Amusement taxes-The tax on tick
cts to "legitimates" repealed, the other
taxes retained.
1i1COluS ldA puDllCllS lS--fADOllSIleu
The President annual budget mes
sage. embodying the budget for the
| fiscal year ending June 80, 1927, went
to Congress on Wednesday. Total re-
ceipts are estimated at approximately
| $3,824 ,222 900; showing a surplus OF
approximately $500. .30S.000, as against
approximately $250.000. 900 for the f1s.
| cal year 1925, and $262, ,000. 900 (esti.
mated) for the fiscal year 1926.
| X X
The British Empire. Rudyard
| Kipling, down with bronchial pneu-
| monia. is doing fairly we'll. This is
| fifteenth day.
The Westminster and Ulster Parlia.
ments and the Dali Eireann have
ratified the agreement signed the other
day in London by representatives of
! Great Britain, the Irish Free State
and Ulster respecting the boundary
between the Free State and Ulster.
| Ratification at London and Bella st
was almost unanimous; the vote in
| the Dali was II to 20. De Valera
| agitated violently against ratification.
France.-Finance Minister Loucheur
| has presented to the Chamber two
bills, one providing for a sinking fund
! to care for maturing government
obligations; the other providing for
! additional revenue by taxation to feed
| the sinking fund. The dispatches are
! not very clear as to the details of
| these bills. Apparently one of them
| authorizes national lottery, the
| revenues from which should make the
| sinking fund operative at once. More
, detailed information Is much to be
| desired.
Senator Henri Berenger has been
| appointed French Ambassador to the
United States to succeed M. Daesch.
ner. The chief reason for the change
Is that M. Berenger Is a notable ffnan.
cial expert, a qualification much to be
desired in the French Ambassador
| now that the French-Amertcan debt
| negotiations are to be resumed. He
was, next to NJ. Caillaux, the most
prominent member Of the French debt
| commission which the other day came
and saw and did not conquer.
| The Greater Lebanon (Syria} has
been freed of Druse insurgents.
China.-The situation in and about
Peking defies analysis. Apparently
| Feng Yu Hsiang would fain assert
himself supreme, but can't quite screw
his courage to the sticking point. That
confounded weather cock, Gen. Ii
Ching Ling. governor OF the metro.
politan province Of Chilli. embar-
! rasses him. This fellow Ii, an ap-
pointee Of Chang Tso. Lin. I tmagdpduY