The midland journal. (Rising Sun, Md.) 1885-1947, 1892-05-13

placed at the enormous sum of S67 ,440 ,5S2.
This Is net after all necessary expenses and
high official salaries have been deducted.
This whole railroad trust-for that is
what this "system' is-should be taxed as
one artificial person, 25 per cent on the net
income, and when the dividends were ap-
propriated among the several beneficiaries,
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 a few years
ago had $50, 900, 900 invested in govern
ment bonds. This immense fortune was
merely surplus sailed away in the U. S.
Treasury, guarded from robbers and tax
collectors by Uncle Sam, drawing four per
cent interest and waiting for a favorable
opportunity to gobble up more railroads.
This sum and all other similar aggregations
of money were not only exempt from tax
but the income derived from them was also
exempt, because of there being no law to
tax incomes. Let us examine what the in
come from this so millions of U. s. Bonds
amounts to at per cent per annum,
So, COO, 900 payable semi-annually; 81 ,000,-
900 every six months. An income tax on
that would have, at 20 per cent, benefited
the treasury 100000. In the absence of
an income tax not one cent was derived
from it in the way of tax. These brief
| illustrations will serve for all others and
there are thousands of similar ones aggre.
eating lesser amounts.
Carnega's income in 1890 was 81 800 600
which he invested in C.uny Castles in the
Highlands of Scotland ard similar enter
p,ises. His last pet.is an immense library
in Pittsburgh into which he has put
So, 800 900 which can benefit but compare
lively few persons.
Rockefeller, the Standard Oil trust king
is, by virtue of our monopoly class-law sys-
tenn, 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 public
out of whose creations Of wealth they are
acquired, should receive back at least a
portion of that wealth to defray the eXpen-
SEES of government. Millionaire fortunes
and incomes should be taxed by an income
tax commensurate 10 their amount, with
the percentage rising with the increase of
income, as income increases with the aggre-
CATION Of capital.
These unnatural aggregations of wealth
in single hands or by corporations are a
menance to the Liberties Of the people,
breeders of vice and poverty, corruptors Of
courts of justice, legislatures and morals Of
society, and public interest. and justice de-
mapd they should be taxed as the people
are taxed by railroad companies, all they
will bear.
A. graduated income tax is one of the
! demands of the Farmers Alliance, and ii is
one of not the least importance which ap.
pears to every laborer and wealth producer
for earnest support. Under our laws the
rich are taxing the poorer classes, and the
least able to bear it, 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 10 do" class, this vile oppression and
injustice is perpetrated, while the wealthy
class, disregarding party, stand together for
their own selfish interests. How long will
the people continue TO be deceived and offer
their best gifts on the altar of party molock
for the benefit of those who rob them? A
graduated income tax is the most just of all
personal property, but the rich kick against
it and the subservient middle class meekly
bow their necks and bear the load that
incomes should pay.