Secretary of the Treasury Mellon announced that income tax payments for March, 1923, now total $463,000,000$63,000,000 greater than estimated and $70,000,000 greater than payments for this same period last year. This he attributes partly to better business conditions and partly to lower income surtaxes and the removal of excess profits taxes.
The surtax rates a year ago ranged up to 65%. Now the maximum surtax is 50%. On the basis of March tax returns he now renews his recommendation that maximum surtaxes be reduced to 25%. He asserts that such readustment would...
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