Evening star., 1925-10-19

~ ptltlUHeb from 7 ltSl fHESl
! 81 SOC 600 600. IN 1925. the first year
Influenced hy the 1924 act. il * esti-
mated that the collections will he
81 S33 600 900. In other words. in
! spite Of the very sweeping reductions
! carried by the 1924 act in the
( lower brackets and the comparatively
/ less reduction in the upper brackets,
! we will collect in 1925 more money At
! lower rates than We collected in lH-3
| AT higher rates.
"A reduction of the lower brackets
! in Itself means no increase in taxable
| income
| a man with s. 600 salary does
! not carry funds in non-prnductiVe in
! VestmentS. and a reduction of his
! taxes does not therefore. create ad-
I ditiona taxable income. A reduction
( in the surtaX. however. increases the
/ amount Of capital which is put into
! productive enterprises. stimulates
! business and makes more certain that
| there will he more 5000 Jobs To 70
| around. 1t seems to me quite clear
/ that IA man with a So. .00h job. who. if
! married and without dependents. pays
tax of hut $3.50 under the present
law. or A man with IS 600 ioh. who.
under the same conditions. paw tax
Of 80. is more interested in hav-
| ing he ioh than in having his taxes
! further reduced. What we mean by
( tax reform. is to have more of these
J Jobs -
! The Secretary estimated that the
/ recommended srrtaN reduction to a
I 20 per cent ma Ximum would cut reve-
nueS $40 .1h0. 600 the first calendar
year. and Sl00. 600 900 the second year.
/ The estate tax. whose repeal he now
advocated. now Yields about Sl0H 600,
I 900 annually. Thus, including s35.-
: 600 600 reduction in automobile taxes.
the reductions he specifically men
! toned would amount in the first wear
to S275 600. 900.
! Early Passage Seen.
! Chairman Green of the ways and
I means committee has declared q hill
! will he ready for the House upon rhe
! conVening of Congress in December
and predicts its passage there before
| the Christmas holidays. Senate lead
| ers declare the measure can he fnal-
/ ~ enacted into law by March !. -
! days before first tax payments of the
! new year are due.
! ~ a result of their Increased ma
! iority in the House. Republican merl-
! hership on the committee is increa sol
/ this session To a ration of u To 10
! 1t was IA to II at last session. with
! Representative f'rear of Wisconsin,
| who has since heen voted off the com
lmittee by the Republican caucus.
! counted on the ma iority side
The committee membership. subject
! to approval by the House now in
! cludes: Repuhica s-Representatives
, Green. Iowa. chairma n: Hawley. Ore
! gon; Treadway. Ma ssa chusetts: Racha-
/ rach. New Jersey: Hadley. Washing.
, ton: Timberlake. Colora do: Watson,
. Pennsylvania: Mills. New York: Nc
Laughlin. Michigan: kearns. Ohio
| Chindblom. Illinois: Crowther New
| York: RiXler. Pennsylva mia: Faust.
| Missouri. and Aldrich. Rhode Island
! Democrats-Garner. Texas: Collier,
Mississippi: Oldfeld, Arkansas: Crisp
, Georgia; Carew, New York: Martin,
louisiana: Rainey. Illinois, Hull
/ Tennessee: Dickinson. Missouri and
Doughton. North Carolina.
Early Action Pledged
Members of both parties assured
i Chairman Green at the committees s
executive session this morning OF a
desire to facilitate early action.
The program of Mr.. Green calling
for two weeks of public hearing wa :
approved. The chairman said a hill
will he ready to present to the House
on the opening day. early in Dec~m-
! Der.