REDUCING TAXES IN U.S.A.
President Coolidge’s Proposals. AMERICA’S RECORD SURPLUS. By Cable—Press Association—CopyripbL Australian nnd. N.Z. Cable Association. (Received March 20, 5.5 p.m.) WASHINGTON, March IS. President Coolidgc has announced that next congress will initiate a vast reduction in taxes, the estimated total being in the vicinity of 500,000,000 dollars, provided there is no recession of the present unrivalled business prosperity. The income tax returns for 1926, paid on 15th March, indicate that the total excess will he 1,500,000,000 dollars, probably the largest in American history, assuring the Treasury of a surplus over Budget expenditures, in the vicinity of 600,000,000 dollars, which will probably be U£ed in the reduction of the national debt, and a radical revision of downward taxes, particularly corporations and individuals paying medium income surtaxes, and so-called “nuisance” taxes on automobiles, club dues, amusements, etc.
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Bibliographic details
Timaru Herald, Volume CXXIII, 21 March 1927, Page 9
Word Count
138REDUCING TAXES IN U.S.A. Timaru Herald, Volume CXXIII, 21 March 1927, Page 9
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