2,000 TIMES HIS WEIGHT IN GOLD
Under tho scale of Income Tax impoKid by the recent Revenue Bill, every American in receipt of £30,000 or more a year" must pay at least half of it to the State. If his income is £40,000 a year, his annual contribution will be a few, hundred pounds over £20,000: the- tax on a yearly £60,000 will bo £33.000 ( and ao on, In ascending scale, until the man who 'has £200,000 a year must pay just undsr £130.000 in Income Tax alone, while the forttinat« possessor of a million pounds a year must contribute the enormous sum of £705,419.
There are not a few men In the States ■who would count themselves lucky to escape with a cheque for half or thre-D----quavters of a million pounds. Mr Henry Ford, for example, is said to have an income of £6,000,000 a vear, of which the revenue authorities will claim between three and four millions—a sum sufficient to ke«p 1,000 families in modest comfort for ever.
But even Mr Ford gets off lighter than Mr John D. Rockefeller, who is reputed to have an income of £20,000,000 a year' Mr Rockefeller's contribution to the' Exchequer, it. is said, will not fall short of £16,000,000 for the current vear-a sum which represents 2,000 times his own •weight in gold, or as many sovereigns as would form a carpet of gold on which the entire population of Carlisle, to the number « 53,000, could stand in comfort. '
2,000 TIMES HIS WEIGHT IN GOLD
Evening Star, Issue 17234, 26 December 1919, Page 6
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