AMERICA AT WAR.
FINANCIAL WAR MEASURES.,
INCOME TAX TREBLED
PROFITS TAX DOUBLED
(Received May 10, 8.45 a.m.)
WASHINGTON, May 9. . The income tax has been trebled. An income of £1000 will now pay £16, one of £20,000 will pay £2400, and one of £600,000 will pay £300,000. The profits tax has been doubled. It includes transportation, insurance, and amusements. The War Revenue Bill is designed to raise 1,800,000,000 dollars. It is expected that Liberty Loan bonds will be redeemable, at the Gov- ; ernment's option, in 15 years, though due in 30 years. Provision is made for a small first deposit, the balance being paid in instalments. The minimum amount is 100 dollars, and the maximum 100,000 dollars. The Bill also taxes the free list 10 per cent, and adds 10 per cent, to the existing tariff. ■,' , * , ■■' ....
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Bibliographic details
Ashburton Guardian, Volume XXXVII, Issue 4054, 10 May 1917, Page 5
Word Count
136AMERICA AT WAR. Ashburton Guardian, Volume XXXVII, Issue 4054, 10 May 1917, Page 5
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