Thank you for visiting SNEWPapers!
Sign up free
The Producers News
Plentywood, Sheridan County, Montana
What is this article about?
The Peoples Lobby advocates for a New Deal in taxation, stating that a tax's fairness depends on how much income remains after payment. They highlight 1934 data where high earners paid low federal taxes relative to their income, compared to farm families and industrial workers.
Clipping
OCR Quality
Full Text
FOR NEW DEAL IN TAXES
WASHINGTON.— (FP) —A New Deal in taxation is advocated by the Peoples Lobby, in a statement which declares "the real test of whether a tax is fair is how much the taxpayer has left after the tax."
In 1934 the 419,481 persons reporting incomes over $5,000 had an aggregate income of nearly five billion dollars," says the Lobby. They paid in federal income taxes and surtaxes only about $474,000,000 and had left an average of $10,720.
"The total income of this one and third percent of the families of America was nearly three-quarters of the gross income of some 6 1-2 million farm families and nearly five-sixths of the total income of around seven million industrial workers."
After paying all taxes on 1934 incomes the 32 people with incomes of $1,000,000 or more had left an average of $782,500, the Lobby points out.
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Domestic News Details
Primary Location
Washington
Event Date
1934
Key Persons
Outcome
high-income individuals retained significant income after taxes, highlighting tax disparity.
Event Details
The Peoples Lobby issued a statement advocating a New Deal in taxation, defining a fair tax by the amount left to the taxpayer, and citing 1934 income and tax data for persons over $5,000 and millionaires compared to farm families and industrial workers.