TAXATION: Lessening

The Treasury Department gave out the revenue receipts for the first five months of the present fiscal year (July 1 to Nov. 30, inclusive). They are here given (in millions of dollars) as compared with the same months of last year : Income Tax, 1923 $484 Income Tax, 1924 453 Decrease , $31 Other Taxes, 1923 $442 Other Taxes, 1924 375 Decrease $67 Total decrease By so much, the public purse is thinner; and private purses fatter. The falling off in income-tax revenue was principally due to the 25% flat reduction put...

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