The Dawson news. (Dawson, Ga.) 1889-current, 1925-02-10
weeds ENTIRE NET EARN
7Ncs OF ALL CORPORATIONS,
RuREAU REPORT SHOWS.
pITRDEN BECOMES EXCESSIVE

Than Four Billion Dollars State
And Local Taxes.
In two official statements issued
this week by widely separated federal
bureaus, the United States govern
,,en+ announces that the tax burden
throughout the country has grown to
srcb proportions that the entire net
earnings of all the corporations in the
nation would be insufficient to pay
tbe bill, Harden Colfax, the we'll
known Washington newspaper CORE
spondent, says in copyright article.
The record for 1922, latest period
for which figures are available, is, ac
cording to those statements, as fol-
lows
Amount collected in taxes, $780,
"A 6O8,000.
Net earnings of corporations, $6,-
963,S1l,000.
The first statement was issued by
the census bureau. 1t embodies the
result of the census of wealth, debt
and taxation. 1t lists tax collections in
E 1922 exclusive of federal taxes, as fol-
& lows
States, 1907, $4,000
Counties, $745,000000.
Incorporated places, $1,627, $4,000.
Specified civil divisions, $98O,825,-
OO0
Total, state and local taxes, $4.220,
$4,000.
It will be noted that the figures COW
er only collections made by other
forms OF government than the federal
Federal taxes collected in 1922, accord
ing to figures previously made public
by the bureau of the budget, totaled
Sj,569696,000, which, when added to
state and local taxes, swells the grand
total of tax collections to the sum OF
S7,79060S,000
Federal collections of 1922 taxes
were subdivided as follows:
Income and profits taxes, $2,0o0,-
N l2S000.
Other internal revenue taxes, ST.
l4il25,000.
Customs, $356,442,000.
Total, federal tax collections, $5,-
569.696,000.
The second statement was issued by
the bureau of internal revenue. 1t says:
Corporation Taxes and Income.
The number OF corporation income
tax returns for the calendar year 1922
was 3S2883. OF these 212,535 reported
net income amounting to So,9o3,Sl l.
"A I43." The remaining l70,348 corpora
tons operated at loss or without net
income. Returns must be made to the
bureau by all corporations so that the
net figures cover all activity through
out the country.
As a matter of fact the bureaus
statement shows in tabulations that
appear to have been generally over
looked thus far that the net loss OF
the l70648 corporations which did not
enioy any income. ran to the total OF
$2.l93,776.356. When the losses OF
these unfortunate ventures are deduct
ed from the profits of the corporations
which made money the net proht OF
all American corporations IN W.
taking them as whole, IS cut to ap-
proximately S4,770,03500O.
And that sum, when checked against
the total tax collections made III the
]. United States during 1922, represents
only 81 per cent of the tax burden. In
other words, if net corporation earn
ings alone were turned over to the va
rious tax collectors in full they would
fall so far short of meeting the tax
collectors demands that it would be
necessary to raise two-thirds as much
again to meet the BILL
The internal revenue bureaus hg-
ures are even more illuminating when
the personal returns are considered as
we'll as the corporation earnings. Inc
net income enjoyed by the o,7S7, 4ol
individuals who earned $1,000 or more
& apiece in 1922 is placed by the bureau
at $2l,3S6212, $50 The figures also IN
clude $4,000 persons, many unln mar
ried, who earned less than $z,0oe
apiece, gross. during the year
Total net income of all these indi-
yiduals and all the nations corpora
tons, nearly 100000 separate entries
ran to $4,000, 100000. This represents
the cream of American earning power
and, in addition, goodly share OF inc
8 milk 1t is believed here that TINS
great total is from two to three times
The amount OF the net earnings Vi .he
other classes of citizens who, working
Tor smaller annual wages, made less
thar $1,000 a year in the case OF mar
red men and less than Sl,00O year
IN the case of single persons, through
out the country.
Individual Net Incomes.
II such is the case the American
people enjoyed net ndisidual income ON
IN 1922 OF not more than $35,Oou'UOo'--
UOO, all told. The gross income o.
Course, runs to somewhat larger ng-
tres, but it is noteworthy that the D Duc
reaus computation OF $21,33o,Z lz,oot
OF net income of persons making re-
turns in 1922 includes the amount o.
personal exemption allowed under t tnS
iaw-Sl000 for single persons, Szool
Tor married persons and $500 Tor each
dependent child or relative-as
stood in 1922.
oo these exemptions ran to nearly ,Slo',
V,uV'OOOO00 When they are considered
me net income of individuals su6lee'
10 10 normal taxes was but $o,38l, ooz,l
" men this net income, less prior De
uucube losses, it added to the net IN
ooiae OF all corporations for the year
I AL ~