A Small Novel

The Treasury's measure entitled:


"To reduce and equalize taxation, to provide revenue and for other purposes" as printed, containing the text of the previous tax law with interpolations of the proposed changes, came to about 85,000 words—the size of a small novel.

When published the text of the bill in no way diverged from the summary previously published (TIME, Nov. 19) except to enlarge on the details of the plan.

A 3% normal income tax is placed on the first $4,000 net income, and 6% on all greater...

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