Democratic Sentinel, Volume 18, Number 1, Rensselaer, Jasper County, 19 January 1894 — VOTE TO TAX INCOMES. [ARTICLE+ILLUSTRATION]

VOTE TO TAX INCOMES.

The Democratic Majority Decide* to Levy a Tax of S Per Cent. The advocates of the individual Income tax proposition were triumphant at a recent meeting of the Democratic Ways and Means Committee, says a Washington dispatch. The eleven membeiswere present when the final meeting was held at the Treasury Department. Comparatively little time was wasted in discussion. The ground

had all been argued and fought over time and time again', and at this meeting the issue was joined on two propositions, one to levy a tax of 2 per cent, against individual incomes over $4,000 and against the incomes from corporations (that is, the difference between the gross income and the operating expenses, or, in other words, the net income); and, second, a proposition offered as a substitute by Mr. Cockran (N. Y.) to tax the incomes Irom corporations 1 per cent, and inheritance s 5 per cent., to place a tax of 10 cents on whisky and to lestore sugar to the dutiable list at l a cent a pound. The vote on Mr. Cockran's substitute proposition, which was taken first, resulted in its defeat—7 to 4—as follows: Yeas—Wilson, Cockran, Stevens and Montgomery. Nays—McMillin, Turner, Whiting, Bryan, Bynum, Tarsney and Breckinridge. The original proposition was then

submitted and carried by a veto of 6 to 5, as follows: Yeas—McMillin, Turner. Whiting, Bryan, Bynum ami Tar ney. Nays—Wilson, Cockran, Stevens, Montgomery and Breckinridge. It was also decided, in connection with the latter proposition, to increase the whisky tax 10 cents a gallon—that is. from 90 cenls to sl—to be levied against whisky in as well as out of band. Upon the representation that this increase would work undue hardship to the owners of whisky in bond it was decided to extend the hooded period from three to eight years. The tax on playing cards, at one time fixed at <S cents a pack, was reduced to 2 cents, and the contemplated tax on perfumes and cosmetics was discarded. No increase was made in the tax on cigars, but the increase on cigarettes—sl per I,ooo—was allowed to stand. The committee estimates that the tax on the incomes from corporations and individuals (corporations being treated as individuals) will raise $30.000.000 revenue—sl2,ooo,ooo from corporations and $18,000,000 from individuals. The increase in the whisky tax, it is estimated, will give an additional revenue of $10,000,000 per anuum. The propssed tax on inheritances, which was to be levied in case the proposition for an individual income tax failed, was not deemed necessary.

MANUFACTURES BUILDING.