The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-02-23
THE INCOME TAX.

The income tax attached to the Wilson
tariff bill taxes mans full income per
cent If derived from dividends. bonds, an
nuities or other securities, bnt taxes his
neighbor only In excess Of 81, COO If derived
from real estate, business or salary. and IL
in this respect. as in many other respects.
an unequal and unjust tax. The pretense
that 1t 10 q rich mans tax; that Is, that IL
reaches only the rich, Is false. 1t imposes
tax Of per cent. on all dividends In
scripsor money 10 stockholders. policy
holders or dcpositors, as part Of the earn
iags, income or gains of any bank, trust
company, savings institution. insurance
company and al other corporations. A
like tar 10 placed on the interest on bonds
of corporations, and in the case OF both an
terest and dividends the tar il to be de-
Quoted by the company and paid to the
United States
Thus the tens of thousands of depositors
In savings banks will have this Federal
tax deducted from the little interest
coming TO them from their hard earnings,
and the hard-working. saving poor ara
taxed under this bill. A man who sup
ports his family on q salary of $1,000 q
year escapes this tax, but If on his death
he leaves his wife and children the income
from life insurance policy of &c., 900 and
the proceeds of that policy are invested in
per cent. bonds the widow and orphans
In such a case must pay 2 per cent. to the
government on this income of $500 year.
This income tax, therefore. a. 1t passed
the house Is n OF 4 tax on the rich and on
corporations, but is a tar on tho savings
Of the poor and on the income of the in
vested proceeds of a life insurance policy.
The popular assumption that only those
who have q settled income of over 81, 900
need concern themselves about the income
tax is a mistake, for /. is . tax on savings
OF poverty and the income of the invested
proceeds Of a poor mans life insurance
that has been placed in bonds. A woman
with 500 in the savings bank must pay
tax on the So year ii brings,
though II be her only income, aud
woman who gets $500 year
from the proceeds of an insurance
policy Of $1,000 invested in bonds
must pay per cent. on this income of 500
to the government; that Is, the Demo-
cratic party needs this income tax to sup
| ply the deficiency in the government
| revenue consequent upon its stupid reduc-
ton In the duties on laces, silks, velvet.
jewelry, brandy and leaf tobacco; that Is,
the Democratic party lightens the custom.
house burdens of importers and consumers
Of Injuries and taxes the slender savings
| of the poor while pretending to discrimi-
nate in favor of the poor by class Iegisla-
ton against the weli-to-do.
| 1t is noteworthy fact that while the
| Democratic delegation from Texas strongly
supported the income tar, the most prom
inent journal Of Texas. the Galveston
| Nnes, denounces 1t as "a tax on the enter
| prise, industry, and earning capacity of
| tho citizen;" says that cit means not
| equal and uniform taxation, but discrimi-
mating class taxation:" and more than
| this. is "a direct and dangerous departure
| from the policy Of the Democratic party
and from the principles upon which free
aud equal republican government is
| based"
| In support Of its vigorous protest against
| the odious inqUisitorial character of the
| income tax law the Neses recalls a declara-
| tions by the supreme court some years ago
| when il ovsrruled a similar provision of an
| administrative customs law as follows:
| ANY compulsory discovery By extor.-
/ ing tie paTty's cath or compelling the pro-
/ ductioa OF bis private books and papers 20
/ convict him Of crime or 60 forfeit bis prom
| eYfv IS contrary 10 the pF.ncinles o. a free
: government. IL is shhorFent 10 the in
siincts Of an Enslishman. IL Is abhorrent
| 10 the instincts Of an American. IL NAV
| salt the purposes 81 despotic power, but L
/ cannot abide the pure atmosphere oil politi-
| cal liberty and personal freedom"
/ --------------------~------
| Regisfrattea cloSes foaas. cay clerks oEce
/ 49, a.tlfn ,asfatrAf