Evening star., 1925-11-22

bill. The full effect of the revised
act of 1924, however, became ef-
fectlve on incomes of 1924, and the
taxes paid on them during this year,
shown in the report just out.
Increase in Surtaxes.
Champions of the principle of cut
ting the surtaN were expected TO find
much qualification in perusal of the
figures. which show substantial in
creaseS III the incomes and taxes
paid by persons in the SurtaN class,
where the reduction was effective.
The maximum surtaX had been cut
down from 30 per cent in the 1921
revenue act to 40 per cent in the
1924 act The House ways and
means committee has just agreed TO
cut this figure down TO 20 per cent
in the new bill. Proponents Of Il
lower SurtaX have contended that it
would bring much wealth out from
the TAX exempt securities and en-
courage its investment in productive
enterprises, which would return
profit. and consequently a tax to the
Government.
The American taxpayers of modest
means We're shown IN the preliminary
reports Of statistics to have been
fewer in number in 1924 than in 1928.
up to and including the class of those
making between $4,000 and s. 900 Il
year.
The trend of tan returns. however,
turned from a decrease from the prior
year, to an increase over the prior
year at the 50. 900 mark. and without
exception there was an increase IN
the number of taxpayers in every
class between the - .G6u marx up 10
those with an income OF 81 u)0,0pO
and over There were II of the
latter. both in 1924 and 1923. They
were differently grouped, however.
Nations Richest Taxpayers.
These "A wealthiest persons in the
United States, with incomes Of more
than $1,000, 900 a year, were grouped
as follows for the two years: be
tween $1,000 and $500. 900. IS IN
1924, 80 in 1928; Sl.50O 900 10 $4,000
coo. 3 in 1924. l. in 1928: 81 ,0e0, 600
to S3,000.000. 10 in 1924, IL in 1928;
$4,000 900 to S4,000O00. 4 in 1924, 3 in
1923; 81 900 600 to So 900 900. 3 in 1924,
l in 1923; So 900. 900 and over, in
1924. in 1923. -r
There were 40 persons in 1924
-
600, as compared to only 14l in 1928,
while the class from S400, 900 TO $500,
600 was 13I in 1924, as compared to
III in 1923.
The number of incomes in the
classes under these groups in 1924
was as follows: 322 incomes OF 5000
900 TO S400, 900: 249 incomes OF $3.50
600 to $500. 900; $40 incomes N S20o,-
900 to s250,O00; 1,o7s incomes of
Sl50,000 to 100000; 1864 incomes of
100000 to S150,000; 1874 incomes Of
100000 to 500 900: ! 1893 incomes of
$4,000 to $4,000; 2,55l incomes of
$4,000 to $4,000; 1880 incomes of
$50, 900 to $4,000; 5,946 incomes of
S5O,OOO to $4,000; lG,O43 incomes of
$40 900 to $4,000: 19,261 incomes of
100000 to $4,000; 1920 incomes of
S25 900 to 100000; 27,445 incomes of
100000 to S25, 1000; 49, ,l45 incomes of
$4,000 to 100000; IA sos incomes of
S14 900 to SIS, 1000; 17,71S incomes of
s13. 900 to 1000; 21.214 incomes of
S12 900 to $4,000: 26.237 incomes of
s11 900 to $4,000; 32.0S1 incomes of
$4,000 to s11 1000: 43,005 incomes of
$4,000 to SIC, 1000; 3,639 incomes of S.
900, to $4,000; 74,955 incomes of 81 900
to $4,000; 107 $50 incomes of S6 900 to
$1,000; 154, ,903 incomes of 900 to
$4,000; 553,096 incomes of $4,000 to
$1,000; ,051.346 incomes of $4,000 to
$4,000; 2,308,S62 incomes OF $4,000 to
$4,000; 1850, 494 incomes of $1,000 to
$4,000.
Change i'm Trend.
The trend of total net income re-
ported for 1924 was downward as COM
pared to 1928 for all classes of tax
payers up to and including those
making $4,000 a year, but it turned
sharply at that point, and was on the
increase for all the rest of the classes
up to and including those with in
comes of 100000 and over.
The trend in amount of taxes col
lected, however. was downward in
1924 as compared to 1928 for all
classes up to and including those re-
Here the downward curve turned up
ward, and all classes of incomes
above that figure paid more than they
had during 1923.
Tax-Exempt Securities.
Persons having net incomes of
S., 200 or over reported possession of
wholly or partially tax-exempt securi-
ties in the grand total sum of
s5,21S. .559.394. on which they received
interest of 1892 ,977 500.
on earned net income, as the result
of the credit provision of the revenue
act of 1924, applying to the tax on the
first $4,000 of net income, whether
earned or otherwise, and If specifically
earned, to the tax on an amount not
exceeding $4,000. amounted to
S27.538,273.
Distribution of personal income by
sources is shown under the heading
personal Industry and Property" as
follows:
Personal industry
Salaries. wages. commis-
siOns. bonuses. directors
fees etc. Sl3, Z Ob. l3b 0oI
Business. trade. commerce:
partnership. farming and
profits from incidental
sale of real estate.
property ........... 1874 1856 591
Total s21. FAC, ,5O3. 81
Property c,o,o
Rents and royalties. ...... S1.S04 .65S.SS
Interest on bonds. notes.
incomel 2.462. 2.42O.321