Each Microsoft Employee Generates $220,800 In Net Income ((NEW))
I invite the attention of the General Assembly to the remarks of the Comptroller General in his able and very valuable report, upon the subject of the income tax; and recommend such change in the law as will in future guard against the evasions and abuses to which he refers. I think it would be wiser policy to compel each person dealing in the articles enumerated in said act to give in, on oath, the amount of capital, or credit, actually employed, and the amount of income made from 1st of April, 1863, to 1st of April, 1864, and deduct 20 per cent of the profits, made upon which no tax should be paid; and impose a tax of 25 per cent upon all balance of profits realized. This would be more equitable as between the different tax payers, and would yield a much larger amount to the Treasury than has been received for the past year.
Each Microsoft Employee Generates $220,800 In Net Income