The Waterbury Democrat., 1935-06-20
Redistribution Of
 Wealth Plan IS Ln
tcontInu sa trom Pars il

among administration consrosnIonal leaders appeared to favor immedl. ate action on the tax program. Neither he nor hle colleagues waA certain whether the president wanted the ieglsiatiUn now or in the session which convenes in Jan- uary, 1ese.
 Normal tax procedure is for leg- islatlon to originate In the house after Long ways and means conn mittee hearings. But parliRner-. tnry rules would permit the Roose- welt tax plan or any other such as that sponsored by Sen. Robert x. La Toilette, D. Wis, to be offered in the senate as an amendment to the nuisance tax bill. Byrns said that to exact general tax legislation at this session would keep congress here alt summer.
 It was explained informally at the White House that Mir. Roose- welt would be glad to get his new taxes at this session If he could" Political implications of the tax plan are significant. Senator George W. Norris, T.. Neb., high tax advocate, said he believed Mir. Roosevelt's message sounded the keynote" of the New Deal cam paign song. Further New Deal Move
 Political observers interpreted the message as q further New Deal move to more radical reform ob- jectives. Mir. Roosevelt said de. pression had placed disproportion ate burdens on small business. Without such small enter. prises," MT. Roosevelt continued, "our competitive economic society would cease. Size begets monop- oily. Today our smaller corporations are fighting not only for their own local well-being but for that fairly distributed national prosperity which makes large-scale enterprise possible
 The message did not include the phrase "share-our wealth" as pop ularised, by Huey P. Long, d., La. But the Roosevelt "wider distribu. tion of wealth" expresses kindred thought even if methods proposed do not coincide. The tax bill prom. ises to accentuate the cleavage be- tween conservative and New Deal democrats, probably forcing the latter into coalition with republic cans against the program while maintaining progressive republican support for the Roosevelt adminis- tration.
 Aimed at Mlllionaicrs Washington, June 20--(UP)--- New deal congressional leaders passed the word on Capitol Hill to- day that President Roosevelt's new personal income tax recommenda- tions are aimed at the nations "naillion-or-more" men--of whom there were only 48 last year. The small income taxpayer as we'll as more wealthy ones earning up to q million dollars e year were not likely to be. affected by Presi. dent Roosevelt's plan to increase income taxes on "very great" in- dividual net incomes.
 Latest treasury figures showed that 40 persons received net in. comes of $1,000,000 or more in 1888. Of these 20 received s1,00O,. 900 to $1,500.000; six from $1,- 500. .000 to s2.000,000; eight from l $2,000, 900 to S3,00O,0o0 one from S,0Oo, ,O0o to $4,0oo,O00; one froir $4,00o,000 to s5,O0O. 900, and one over $5,000,oo0. Their identities were not disclosed.
 In 1892, the previous year, treas- ury figures revealed 20 million dollar incomes. They were distrib. uted among the states as follows: Delaware, |; Illinois. g; Michigan, |: New Jersey, {: New York, 8; North Carolina, ?. and Pennsyl- yania, ?.
 The 4e persons who received million dollar incomes in 1888 re- ported income of yS1,55s,9S1 and paid an aggregate tax of $25,- S4S,046. Nearly a third of their income went for federal income taxes.
 A typical case of married man with no dependents who received | $1,000,000 a year us learned in. come" shows that he would pay $574,394 as federal income tax at present rates.
 Federal income tax rates now stop at 63 per cent when the in- come reaches a million dollars. 1t Is proposed that the sliding scale be increased over this figure so that incomes of more than mill lion would be taxed at still higher rates. As 6 rate hears 100 per cent, there is virtual confiscation of income. No rates have yet been
 proposed.
 Tn times of depression this would not be a lucrative source of revenue as only few more millions could be squeezed out of the peak in- comes which already pay 6S per | cent.
 on the basis of 1929 boom levels however, when 5i3 persons report ed incomes of million dollars or more, tens of millions of dollars of new taxes might be collected. The SIS million dollar taxpayers In 1929 received an aggregate net in- come of $1,212.o9s,7S4, on which they paid an aggregate federal in- come tax of $1si,054,006. New Tax Reservoir Washington, June 20--(UP)- Administration officials hoped to- day to tap . new tax reservoir