The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1866-01-24

law OF Congress.
There is another fact connected with
the income tax, to which l wish to invite
your attention. The tax on the income
of one year cannot, and is not assessed
until the following year; for until the
close of the year, the amount of the in
come is not known. But suppose that
during the income year, the family of
Smith was afflicted with sickness, which
caused him to exhaust his entire income;
and that during portion of the follow
ing year, the same in which the tax has
to be paid, he is unable to obtain mploy-
ment-can you tell me, citizens, where he
is to get money to pay his last years tax?
His family must be fed, and housed, and
clothed; and he is without employment,
with only one dollar in his pocket; and
yet the law requires him to pay as heavy
tax as Jones, who is worth twenty six
thousand times more money! Can it be
possible, my friends, that such law can
be just?
But again, let us suppose that two other
members of the Jones and Smith families
to have equal incomes resulting from their
labor, but Jones owns furnished house
in which he and his family reside, worth
one thousand dollars, while Smith lives
in rented house, and is only worth one
hundred dollars. These families live up
to their incomes, and inasmuch as the in
comes are equal, each, by the law, is re-
quired to pay the same amount Of tax
say fifty dollars. The moment before the
tax was paid Jones was worth ten hun
dred and Smith one hundred dollars
that is, Jones was worth ten times as
much as Smith; but each was compelled
to use fifty dollars of his property to pay
his tax, thus reducing the wealth Of Jones
to nine hundred and fifty; and of Smith
to fifty dollars. That is Jones paid his
tax with one-twentieth of what he was
worth, while it required Smith to pay
one half Of all he owned. Before the
tax was paid, Jones was worth ten times
as much as Smith, but the moment after
the tax was paid he was worth nineteen
times as much-that is, after the tax was
paid Jones was worth nine hundred and
fifty, while Smith was reduced to fifty dol
lars.
fear, citizens, that I will weary your
patience; but as the subject is an import
ant one, indulge me in one further illus
tration. l will again take my examples
from |those large and worthy families Of
Jones and Smith. The two gentlemen
have each a capital of forty thousand
dollars in money. Jones invests lis mon.
ey in State stocks, rides fancy horse,
smokes good cigars, and without risk OIL
labor, has an income of twenty four hun
dred dollars. On the other hand, Smith
who is public spirited man, full of en-
ergy and industry, assumes the risks Of
trade, and establishes foundry or fac
tory ,and the reward of his enterprise and
toll is an income of forty eight hundred
dollars, although his capital was only
equal to that of Jones; and yet the Law
requires him to pay double the amoun
of tax paid by Jones, That is, the Law
imposes penalty upon industry and en-
terprise, and bestows a reward upon idle
ness. Is this either wise or just?
TWO GOVERNMENTS TO SUPPORT.
From the very nature of our institu
tions, citizens, we are taxed to support twt
Governments at the same time, both il
debt. 1t is true, as you all remember
that prior to 1861, the affairs of the Fed
eral Government were SO economically ad
mipistered, that the people in those happy
prosperous and peaceful days, only fel
the Federal Government in the blessing
it bestowed upon them. They knew tina
there was an army and navy, but no on,
felt that dollar was taken from his pock
ct to pay for either Cherish the memor,
of those by gone days, citizens, for nevei
again will you see them return. Never
theless, We have duty to perform, an,
| it will be becoming and decent to dis
charge it like men.
THE BoND-owNER AND THE BoNDMAN
But, citizens, what will you say of
law which exempts one man from taxa
ton, who is worth one hundred thousand
while it taxes another man, who is onl,
worth one hundred dollars? The act o
Congress passed June 80, 1864, declare
that all bonds and other United State
securities, shall be exempt from taxation
by or under any Municipal or State law
| Time will not permit me to discuss, an
by discussion demonstrate the unconsti
tutionality of the law; but ask, are nc
all the citizens of Ohio alike protecte
in person and property by the laws
4 Why then should not all contribut
to their support :? do not know, cit
zons, who are bond-owners in your city
and hence the remarks that / am about t
apply to class and not to any particula
individual. Well, their is your fello
citizen, Mr.. H., who owns one hur
dred thousand dollars in bonds, o
which he receives what is equivalent
10 per cent, interest in greenbacks. An
} when q. bought his bonds, he only pal
, fifty thousand dollars in the operation
But as his original investment wa
only fifty thousand dollars, and as b
r receives six per cent. in gold on one bur
: dred thousand, it follows that he ge
: twelve per cent. in gold, or twenty pt
g cent. in paper money on the amount
! his original investment, and yet he is n,
S taxed for State and local purposes. B,
t while he reaps his harvest of gold il
: terest, and contributes nothing to soci
J ty, he insists that you shall place a ga
: post in front of his house, so that he ms
e 60 to and from his luxurious home
e safety; that you shall keep we'll pave
e streets for his convenience, and mainta