Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1892-06-22


which, for the purpose Of illustration.
we have placed ut $1,000, before any
dividends are declared, or any fund set
aside for other purposes
An income tax Of 90 to 25 per cent on
these millionaires as well ~ on the net
earnings Of their corporations which, by
virtue OF unjust legislation they operate
to rob the public, would materially help
to even up matters in the line Of taxa
ton, by taking . part Of that 80 per
cent which the agricultural class now
pays from the farmers backs and plac-
ing 1t on the shoulders abundantly able
to bear it.
Such q tar would be a just and
righteous tax under our present tax
system
Thirty-one thousand millionaires own
three-hfths of the property of this ooun-
try which Is estimated to be 900, ooo. .00o.-
600. The income from that S36, 900, ,000,-
600 of property at per cent. would
amount annually to 81, 44o, ,000, 600 Sup
pose the average tax on that stupendous
income is 90 per cent, we have a neat
revenue of s22s, ,ooo, 900, to be applied to
the public needs, and the millionaire
ship. Not nearly so much as some Of
us who pay IS tax.
The Astor familys incomes are de-
rived principally from rents Of real
estate-unearned increment-which Ia
estimated to aggregate $50, ,o0o, 900 TO
500, 600. 600.
What is the system by which the Van
bilts' fortune has been piled up and L.
still accommodating by arithmetioal pro-
gression, but unjust Laws? The New
York Central railroad might be ll<ened
to great spout or money conduit with
ends opening in New York and Chica-
go, and a man at each end holding Q
bag into which the money poured
in steady stream, drawn from the
travel and traffic of the public all
they would bear. This was the earlier
days of the Vanderbilt reign. The rail-
road dominion of that family and their
friends has increased, till at the present
time they own fifteen important rail-
roads, which in combination constitute
what might be properly termed the
Vanderbilt railroad empire, and in the
parlance of the times In called the "Van-
derbilt system" This system" or en-
pire aggregates %, ,os2 miles, the money
value of which Is represented In stocks
and bonds aggregating s4,477, 75s, 47S,
the net annual earnings from which arc
placed at the enormous sum of s67, 40 =
5s2. This is net after all necessary ex-
penses and high official salaries have
been deducted
This whole railroad trust-for that Ia
what this system" is-should be taxed
as one artificial person, 25 percent. on
the net income, and when the
dividends were appropriated among
the several beneAciaries the incomes
of each should be taxed without
regard whence derived, by graduated
scale affixed by law, in order that each
and all recipients might pay taxes equal
to their ability. The head Of this
family few years ego had go. .o0o, 900
invested In government honda This
immense fortune Vas merely surplus
salted away in the United States treas
ury, guarded from robbers and tax coll
lectors by Uncle Sam, drawing per
cent interest and waiting for favor
able opportunity to gobble up more
railroads. This sum and all similar
aggregations Of money were not only
exempt from tax but the income de-
rived from them was also exempt be-
cause of their being no law to tax In
comes. Let US examine what the in
come from this ESQ, 600, 600 Of United
States bonds amounts to at per
cent per annum, $4,000, 900, pay.
able semi-annually; $1,000, 600 every
six months. An income tax on
that would have, At 30 per cent, bene-
hted the treasury e400, 200. In the abb
sence OF an income tax not one cent was
derived from it In the way of tar.
These brief illustrations will serve for
all others and there are thousands
OF similar ones aggregating lesser
amounts.
Carnegie's income in 1890 was 81, 500, :
600, which he invested in Cluny castles
In the highlands Of Scotland and similar
enterprises. His last pet Is an immense
library in Pitts sburgh, into which he has
put $4,000, 900, which can benefit but
comparatively few persons.
Rockefeller, the Standard oil trust
king, IL, by virtue Of our monopoly class
law system, enabled to build . great
university in Chicago, of little or no
benefit to- the public at large, from
whom all the money was drawn. All
of these colossal incomes should be
taxed and taxed heavily, and the pub
lie, out of whose creations of wealth
they are acquired, should receive back
at least a portion of that wealth to de-
fray the expenses of government
Millionaire fortunes and incomes
should be taxed by an income tax com-
mensurate to their amount, with the
percentage rising with the increase Of
income, as income increases with the
aggregation Of capital
These unnatural aggregations Of
wealth In single hands or owned by cor
porations are menace to the liberties
of the people, breeders of vice and pow
erty, corrupters of courts of justice,
legislatures and morals of society, and
public interest and justice demand they
should be taxed as the people are taxed
by railroad companies, all they will
bear.
A graduated income tax IL one of the
demands Of the Farmers Alliance, and
1t is one of not the least Importance and
appeals to every laborer and wealth
prOuuccf Ior carnoot support Ohoct
our laws the rich are taxing the
poorer classes, and those least able to
bear 1t, TO death, while the former
are escaping almost SCOT free. Under
the superstition Of party, which has
grown to be almost religion with our
middle, well to dc" class, this vile OPP
preston and injustice h psrpetrated,
while the wealthy class, disregardins
party, stand together for their own
selfish interests How long viii the
people continue to be deceived and offer
their best gifts on the altar Of party
moloch for the benefit Of those who rob
them? A graduated income tax IL the
most just of all taxes upon personal
property, but the rich kick against Il
. and the subservient middle class meek.