Taxation And Taxes in the United States Under the Internal Revenue System 1791
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142 THE INTERNAL REVENUE SYSTEM.
1. The Tax Rates and the Revenue.
Contrary to all expectations and all known rules of calculation, the advance of the rate to $1. 50 and $2. 00 per gallon produced no corresponding increase in the revenues. During the ten months of the fiscal year 1863, the tax was uniformly twenty cents per gallon, and the revenues therefrom $3, 229, 990, collected from 16, 149, 954 gallons of spirits. Accepting as accurate the census figures on the production of the country, w...hich placed the annual output in 1860 at upwards of 90, 000, - 000 of gallons, this was rather an unsatisfactory show- ing. There is reason for believing this an over-estimate, however ; for even in 1864, when the desire to anticipate the tax gave a decided stimulus to production, the num- ber of gallons upon which the tax was paid was but 85, 295, 391. The rate for this latter fiscal year was sixty cents per gallon, although during the earlier months the old rate reigned, and the receipts there- from rose to $28, 431, 797.
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To quickly assess the difficulty of the text, read a short excerpt:
142 THE INTERNAL REVENUE SYSTEM.
1. The Tax Rates and the Revenue.
Contrary to all expectations and all known rules of calculation, the advance of the rate to $1. 50 and $2. 00 per gallon produced no corresponding increase in the revenues. During the ten months of the fiscal year 1863, the tax was uniformly twenty cents per gallon, and the revenues therefrom $3, 229, 990, collected from 16, 149, 954 gallons of spirits. Accepting as accurate the census figures on the production of the country, w...hich placed the annual output in 1860 at upwards of 90, 000, - 000 of gallons, this was rather an unsatisfactory show- ing. There is reason for believing this an over-estimate, however ; for even in 1864, when the desire to anticipate the tax gave a decided stimulus to production, the num- ber of gallons upon which the tax was paid was but 85, 295, 391. The rate for this latter fiscal year was sixty cents per gallon, although during the earlier months the old rate reigned, and the receipts there- from rose to $28, 431, 797.
What to read after Taxation And Taxes in the United States Under the Internal Revenue System 1791?
You can find similar books in the "Read Also" column, or choose other free books by Frederic Clemson Howe to read onlineMoreLess
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