AMERICAN TAXES
(Press Assn.-
NEW RATES THE HIGHEST EVER IMPOSED IN STATES ROOSEVELT'S PROGRAMME
-By Telegraph — Copyright)
Washingfon, January 6. The new income tax rates decided on by Mr. Roosevelt and th'e Democratic Congressional leaders equal the wartime levies — the highest ever imposed hy the United States. They start from a hasis of 2 per cent. higher than the rates in effect this year, whieh in turn are much stiffer than any paid since th'e 1921 revenue law was supplanted. There is also a drop in the exemptions, whieh will tax all unmarried men and women with 1000 dollars or more and all married earners receiving 2000 dollars 01* more, compared with the exemptions of 1000 dollai's and 2500 dollars in force this year and 1500 dollars and 3500 dollars on taxes paid during 1932. The programme now to he attempted includes 6 per cent. on the first 4000 dollars of income and 12 per cent. above that, plus a gradual surtax on incomes of 6000 dollars or more.
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 425, 9 January 1933, Page 5
Word Count
169AMERICAN TAXES Rotorua Morning Post, Volume 2, Issue 425, 9 January 1933, Page 5
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