The Waterbury Democrat., 1932-03-30
$45, 900, 900 might be considered x.. = ! scat 1ax,a1 |

 moderate level.
 Ragon complied the possibilities of the taxes as follows:
 Airplanes $2,O00,000; pipelines s15.O00,O00; corporations $5,000.- coo; gifts $1O,000,000; and af1il- ated returns restricts $1S,000,000.
 It was apparent the committee was acting with such speed that exact estimates could only be ob- tained by compromising the op- posing sets of figures.
 Less than twenty-five minutes after the House met it adopted an amendment of the democratic pro- gram starting surtaxes at $6.000 instead of $10,000. The amend ment is expected to raise $7,000,000. It starts the graduated surtax scale at per cent at the lower figure. The 1 per cent will be effective on all incomes up to $12,O00 where a 9 per cent rate starts. It then goes on up to a 65 per cent maxi. mum on incomes of $5,OOo,Ooo ana more.
 The exemption for corporations was reduced from $3,000 to $l,ooo as proposed by democratic leaoerS' It will bring $6.000,o0o.
 Washington, March 30.-(UP)- Only two items appeared nkeiy to- day to cause any dissension Tn house united on a new budget pal. ancing tax bill that probably will be approved in detail before Thurs- day night. the one-fourth of one-per cent tax on stock transactions and the in- crease in letter postage to three cents. ..
 Republicans and democrats. 1t appears, however, were determined to push the entire program through the house with no more delay than that recorded after Speaker John Gamers dramatic appeal Tuesday for a balanced budget.
 Discordant forces a few days earlier had voted down their lead CTS, and led by rebellious demo- crats, has defeated a general sales tax bill providing about $bOO,00O,- 900 revenue. With that sales tax which would hit every individual voter back home, defeated. the re- bellious ones were ready for Gar ner's carefully staged appeal and the action that followed.
 After Gamers camp meeting ap- peal that those who wanted to balance the budget" stand, all stood. And in rapid fire order, the items presented for the house approval were passed.
 The house seemed determined to make all possible speed to assure frightened bankers and investors, domestic and foreign, that the budget would be balanced. It began to adopt the new taxes faster than clerks could draft them in the requisite legal language.
 In swift succession, the house accepted these special sales taxes: Three per cent on pleasure auto- mobiles; two per cent on trucks; one per cent on accessories; phono- graphs, candy and chewing gum. Ten per cent on cosmetics, furs. jewelry, sporting goods, cameras, yachts and motor cars.
 Four cents per thousand on matches.
 Aside from the stock exchange and postage items. the most inn portant provisions remaining to be acted upon were.
 One-eighth of one per cent on transfers of bonds;
 Ten cents per $100 on capital stock and bond issues.
 Five cents per $10O on sales of produce on exchanges. Five per cent sales tax on me- chanical refrigerators.
 Reduction of corporation income tax exemption to $1,000. New income surtax minimum be- ginning at $6,000 instead of ST. GOO.
 Republicans generally are doubt full about the stock transaction tax. New York forces have viz orously protested it. It was origin ally suggested by insurgent Rep LaGuardia, repn, N. Y. Some of the leaders insisted then that 1t would drive the stock exchange to Canada.
 An effort may be made to sub- stitute tax on electricity for this provision. Republicans yesterday offered such a substitution in the ways and means committee but were voted down. Private polls indicated the house would act sim ilarly.
 The increase of letter postage to three cents is the largest single item in the new program. It would raise s135.000, ,000 year. Poli- tlcians with an eye to reelection always have looked upon postal in. creases as the most irritating kind of tax. They insist that every time person mails letter he vii reflect that congress made him pay three cents instead of two.
 The general tone of the house however. is apparently strong enough to overcome these cbjec. tions. Even LaGuardia and hi