GIGANTIC FORTUNES

Shannon News, 4 December 1925, Page 3

GIGANTIC FORTUNES

INCOME OF OVER A MILLION About seven per cent, of the Unitea States population made income tax returns this year (says the New York correspondent of the Daily Telegraph) and 'S.Soo.ooo—including 1,000,000 ir. New York' city—paid nearly £350,000,000. Mr. Henry Ford and his family ,of Detroit, lead with over £4,000.000 payment, followed by. Mr. Rockfeller, jun. with well over £1,250,000.' Mr. Rockfeller, junr.'s income is roughly estimated at £2 - 250,000, that of Mr. Henry Ford as an individual at well over £1,000,000, and that of Mr. Edsel Ford, his son, at £1,000.000. In the national totals oil and the '•flivver" led in Ttoney-nvaking power. The Ford Motor Company with a payment of £3,280,000, headed the list of corporations,, the United States Steel coming second with £2,200,000, revealing- a decrease of £BOO,OOO, Jack Dompsey, the world's champion pugilist,,, paid only £SO odd in New York. Babe Ruth, the baseball idol, the "King of Swat," paid close upon £7OO. The collectors, assail the iaw which permits the publiOation of the returns, and the majority report no increase in the revenue to the Government as a result. They insist that the data are practically useless, and that they fail to show the payers' real financial standing; also that trade rivals and curiosity-seekers are the chief beneficiaries. The publication, however, is warmly welcomed by salesmen, who are now busily engaged in' compiling lists of "prospects," the inference being that those persons paying a large income tax. are more likely to be customers than those whose incomes are small.