DRASTIC REVISION
AMERICAN INCOME TAX LAW ; i ALL LOOPHOLES BLOCKED; Prsss Association— By Telegraph—Copyright. . ■ ..' WASHINGTON, January 25. - .Jhe House Ways and Means Committee voted for a j drastic of the income tax law to increase the yield by 200,000,000 dollars.' _ The > new schedule provides for increases to graduate upwards to 59 per cent, on net incomes above dollars. There ■re also provisions for plugging loopholes whereby the wealthy, such as Mr Mitchell, a former bank manager, •scaped taxation. A Bill embodying the committee’s recommendations is expected to receive l the right of way; in Congress next week. '
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Bibliographic details
Evening Star, Issue 21630, 27 January 1934, Page 13
Word Count
97DRASTIC REVISION Evening Star, Issue 21630, 27 January 1934, Page 13
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