Jasper County Democrat, Volume 20, Number 25, Rensselaer, Jasper County, 23 June 1917 — PUBLISHERS’ TAX AGREED ON [ARTICLE]

PUBLISHERS’ TAX AGREED ON

Postage Rate Raised and Levy Made . on Net Profits. Washington, June 22. —The senate finance committee took what the members expect to be final action on publishers’ taxes injthe war revenue bill, adopting by a vote of 8 to 6 an increase of one-quarter of a cent a pound on second class postage rates and an additional levy of 5 per cent on publishers’ net profits over $4,000. Revenues of $3,000,000 annually from the increase in postage rates to I*4 cents a pound, which most' publishers have vigorously opposed, and about $0,000,(MX) from the profits tax are expected. "The committee also decided to re"tain the house increase of 50 per cent on letter rates, but tentatively agreed to strike out the doubled postcards rate. , In revising the excess profits tax deferring a decision regarding the rate of taxation, the-committee decided to extend its operation to individuals in trade as well as corporations and partnerships. From individuals at the house rate of 16 per cent it is estimated sloo,'000,000 additional revenue would be secured. It also was deCided ( to give an exemption of 6 per cent to corporations having subnormal profits during the three-year prewar period and a similar exemption to new corporations organized since the war began.

We made a fortunate purchase of 250 straw hats, worth $2, $2.50 and $3, hut the weather has been against us and the entire lot will be placed on sale today, June 23, at 98c for your choice. Take advantage and take home a bargain. —THE CLOTHING HOUSE OF WILLIAM TRAUB. An armload of old papers for five cents at The Democrat office.