UNITED STATES TAXES
GREAT REDUCTIONS FORECASTED BIG SURPLUS EXPECTED (Rec. March 20, 5,5 p.m.) Washington, March 18. President Coolidge announced that next Congress will initiate a vast reduction in taxes, the estimated total being in the vicinitv of 500,000,000 dollars, provided there is no recession of the present : Unrivalled business prosperity. The income tax returns for 1926 paid on March 15 indicate that the totbl will exceed 1,500,000,000 dollars, and probably will be the largest in. American history, assuring the Treasury of a surplus over the Budget expenditures in the vicinity of 600,000,000 dollars, which probably will be used in the reduction of the National Debt and radical revision downward of taxes, particularly corporations and individuals paving'medium income surtaxes and so-called “nuisance” taxes on automobiles, club dues, amusements, etc.
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Dominion, Volume 20, Issue 149, 21 March 1927, Page 10
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129UNITED STATES TAXES Dominion, Volume 20, Issue 149, 21 March 1927, Page 10
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