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Newspaper
Titonka Topic
Location
Titonka, Iowa, United States of America
Date
Oct 09, 1913
Page
1
A fragment lists several numbers 25 per cent 28 per cent 4 cents 40 cents and misc phrases. It mentions March 4 1914 and December 1 with notes Free prices or charges and a general reference to cents and free status. The readable text lacks clear event or identity details.
Washington reports the Democratic tariff revision advances to final passage with unanimous support. The measure aims to cut duties on many goods including farm and manufactured products, raise income tax on certain high incomes, and broaden free lists while keeping some ad valorem rates around 27 to 29 percent.
Treasury officials and Representative Cordell Hull outline the new income tax plan. The system imposes a normal tax on all income above $3,000 with graduated rates up to 6 percent and an additional tax rising to 8 percent on very high incomes. The first filing year runs from March 1, 1913 to end of year with returns due March 1, 1914.
Fragmentary excerpt explains duties on yarn and cotton cloth, detailing shifts in rates for yarn types, voloroid textiles, dyed fabrics, and cloth made from yarn. Mentions reductions on handkerchiefs and mufflers from 29 percent to 5 percent.
Treasury estimates 425,000 Americans must file exact income details by March 1 1914. Tax will apply to individuals and married couples above set income thresholds with rates from 1 to 7 percent. Collection at source and deductions for business expenses, taxes, and depreciation are included. corporations and employers will report and withhold taxes for employees.
In a wide discussion on shoes and industry, the article argues against a U S machinery trust while detailing the United Shoe Machinery Company's role. It explains leasing models, factory locations in Beverly Massachusetts and Boston, and the scale of inventors and workers supporting the sector.
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