Selected Articles On the Income Tax With Special Reference to Graduation And Ex
Selected Articles On the Income Tax With Special Reference to Graduation And Ex
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It is very conservative to estimate that our appropriations for the fiscal year ending June 30, 191 1, as before not including the regular post office appropriation or the Panama canal, will amount to $840, 000, 000.
Allowing for the natural increase in internal revenue, that receipt will be $260, 000, 000. From other sources admitting $65, 000, 000, and allowing $340, 000, 000 from customs, which is nearly $8, 000, 000 larger than it has ever been, the deficit for 191 1 will be $175, 000, 000....
Even if we were to assent to a policy of despoiling the sinking INCOME TAX 73 fund and should we deduct $30, 000, 000 for the currency fund, we should still have a deficit of $66, 168, 677 and $85, 000, 000, without the least hope of increasing our receipts from accustomed resources, or of diminishing our expenditures. It is, therefore, manifest that we must adopt some system that will permanently add to our revenue — and add to it more than the $25, 000, 000 estimated as the result of a tax on the net earnings of corporations.
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You can find similar books in the "Read Also" column, or choose other free books by Edith May Phelps to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It is very conservative to estimate that our appropriations for the fiscal year ending June 30, 191 1, as before not including the regular post office appropriation or the Panama canal, will amount to $840, 000, 000.
Allowing for the natural increase in internal revenue, that receipt will be $260, 000, 000. From other sources admitting $65, 000, 000, and allowing $340, 000, 000 from customs, which is nearly $8, 000, 000 larger than it has ever been, the deficit for 191 1 will be $175, 000, 000....
Even if we were to assent to a policy of despoiling the sinking INCOME TAX 73 fund and should we deduct $30, 000, 000 for the currency fund, we should still have a deficit of $66, 168, 677 and $85, 000, 000, without the least hope of increasing our receipts from accustomed resources, or of diminishing our expenditures. It is, therefore, manifest that we must adopt some system that will permanently add to our revenue — and add to it more than the $25, 000, 000 estimated as the result of a tax on the net earnings of corporations.
What to read after Selected Articles On the Income Tax With Special Reference to Graduation And Ex?
You can find similar books in the "Read Also" column, or choose other free books by Edith May Phelps to read onlineMoreLess
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