The midland journal. (Rising Sun, Md.) 1885-1947, 1892-05-13
Friday, May I3, 1892.
Graduated Income Tax.

ments is in the nature of a fine OH Industry
and that class OF enterprise which aims 10
promote the betterment of the human race
and lift civilization to higher plain. But
as this is the system Of taxation personal
property tax) at present in vogue, always
has been and is likely to be for some time to
come, income should be included, for of all
species of personal property, income is the
best able 10 bear taxation without distress
ing owners.
The tax on much personal property can
be shifted from the party who pays the tax
to the consumer notably in the case Of mer-
chants where the consumer has the tax to
pay along with all other expenses which
are added 10 the price of the goods he buys.
The tax on incomes is tax which the
party paying it cannot shift onto others.
The receiver Of income does not pass it
over to another person, and any tax COM
ing out of ii goes direct to the State.
The beneficiary Of income is better able
to pay tax on that species of property
than on any other, and pays the tax without
being distressed thereby, because such tax
comes out of surplus fund that he can
afford to have drawn upon. Tax on any
other species of personal property always
works hardship.
A graduated income tax takes from the
owners of superfuous wealth, and is not
felt.
Say we start at an income Of $4,000 and
exempt all below that amount. Any party
who has $4,000 year of untaxed revenue to
support family on is in no danger of suf-
fering for want of means, and really would
not feel a tax on sums above that amount
The persons who are compelled to sub
sist whole family on $500 CIR less a year.
pay the larger portion of the taxes for the
support of government, and it is only fair
that those who roll in wealth and rake in
this worlds goods over 5000 annually
should yield liberal portion of this sur
plus wealth to aid their less fortunate fellow
beings, by tightening the taxes taken OIL
of the fund to supply their daily bread.
We should moi only tax natural persons
incomes by graduated scale which exacted
higher percentage as their Accommodations
increaeed, reaching up toward the million
point, but also every artificial person Great
ed by the State, which embraces every
orporation-railroad companies, telegraph
companies, manufacturing corporations
trusts, syndicates, banking corporations
etc. Nor should the incomes Of these con-
Germs, these artificial persons, be frs
divided and apportioned among the severa
companies Of which the combines are COM
posed, but tax The revenue, the net income
of the great octopus, allowing but one
exemption.
The law creating the income tex to sup
port the war allowed the tax on incomes
derived from stocks, diyidends, etc., 10 be
exempted in the hands of the shareholders
which was manifestly unjust. The artificial
persons income should be taxed without
regard to its future distribution, and the
natural PERSONS income without regard to
what source derived from.
The Jay Goulds, Russell Sages, Wander
bits, Astors, Rockefelers, ct. al, should
not only be taxed individually on their i'm.
mense incomes, but the artificial persons
they make use of TO rob the public-the
great corporations which they control
should all have an income tax laid OH theil
net earnings over specified amount, which
for the purpose of illustration we have
placed at $4,000, before any dividends are
declared, or any fund set aside for Other
purposes.
An income tax of 20 or 25 per cent or
these millionaires as well as on the ne
earnings of their corporations which, by
virtue of unjust legislation they operate, to
rob the public, would materially help tt
even up matters in the line of taxation, by
taking part of that so per cent which the
agricultural class now pays from their backs
and placing it on the shoulders abundantly
able TO bear it.
Such tax would be just and righteous
tax under our prest tax system.
$1,000 millionaires own three fifths of the
property Of this country which is estimated
TO be GO billion dollars. The income from
that $36.000,0O0,OOO of property at pei
cent would amount annually to 81 ,440 900,
900, Suppose the average tax on tina
stupendous income is 20 per cent, we have .
neat reyenue of $2SS, 900, 900, to be applied
to the public needs, and the millionair,
families would haye suffered no hardship
Not nearly so much as some of us who pay
$500 tax.
The Astor family's incomes are derived
principally from rents of real estate
unearned increment-which is estimated t.
aggregate so to 100 millions.
What is the system by which the Van
dersilts' fortune has been piled up and il
still secumulating by arilhmatical progress
sion, but unjust laws? The New Yorl
Central Railroad might be likened to (
great sport or money condit with end
opening in New York and Chicago. and .
man at each end holding bag into which
the money poured in steady stream, drawn
from the travel and traffic of the public al
they would bear. This was in the earlier
days Of the Vanderbilt reign. The railroad
dominion Of that family and their friend