Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1891-01-31

Deduct taxes, etc. S225, 100000
Add profits from. tax
system................. 4Oo0oo,ooo> - -.
Total 50, ,i75, 100000
ANNUAL SAVINGS OF OTHER CLASSES.
Natural savings. 81 l,6OO,o0o00
Deduct taxes, etc. ~O,OOOUU
Net savings. s.......................S L4O,VUsUw
The gain here Of the wealthy class
over other classes is enough to equal in
thirty years, if placed at per cent
compound interest the present total
wealth Of the country.
Such are the results OF indirect taxa
ton. How would the two classes stand
if system of direct taxation were in
troduced? Mr.. Shearman thinks that
under such, a system a tax of one and
one-fifth per cent. on all property at its
full value would be sufficient. The
burden borne by each class would there
fore be as follows:
10000 rich would pay..............S5 $500, 900
l2, $50 900 others would pav.......... 225,Oo00oo
From these figures Mr.. Shearman con-
cludes that system of direct taxation
would result in an annual saving to the
middle and working classes of $50, ,0O0,-
900 for all time; and this is only part
of the salient benefit from the direct
system.
The workings of the two systems may
be illustrated by taking the case of a
man worth S10000,000. Under the
present system he would not pay more
than $4,000 year, while at the same
time living in princely style. But if he
is one of the protected classes, If he
owns mines or factories, the tariff taxes
and other indirect taxes will often
bring him as much as 100000 year
from the pockets of other people. Now
how would this pampered millionaire
fare under system of direct taxes?
He would pay Sl20,000 year, and
would levy no tribute upon poorer peo-
Pile.
If the present system, therefore, is to
continue, the coming of the billionaire
is certainty; and with him will come,
on the other hand, million paupers.
The question is, will the present sys-
TEN continue? Mr.. Sherman is confident
that it will not The Republicans have
made the permanent expenses of the
Government so great that deficit of
$50, 900, 900 is thing of the near future.
Moreover, no system of tariff taxation
can be devised which will yield sutfi-
ciept revenue without re-imposing the
tax on sugar But no political party
will hazard such step after the people
have learned the blessings of cheap
sugar. Sugar was put upon the free
list by the Republicans in order to save
the tariff; but free sugar is going to
work in precisely the opposite direction.
The people will learn through it, as
never before that the tariff is a tax,
and they will thus be led to demand tho
abolition of other duties. The late
elections have already doomed the tax
on raw wool, and the growers have
threatened that the tax on woolen cloth
will have to share the same fate.
Blaine put forward reciprocity as q
means of saving protection; but reci-
procity, too, is going to work in the
contrary direction again. The people
will readily see that an enlarged trade
with all the world is good thing, just
so fast as they learn that our trade can
be enlarged in South America.
Thus there are many signs of the
early downfall of protection. Many
forces are at work to undermine the
system, and as the reign of the extor-
toner passes away the conditions will
vanish which tend to make the billion
aire. The abolition of tariff taxation,
and other forms of indirect taxes, will
prevent the coming of the billionaire.