The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1896-04-10

Nlo Cal SSl IL on the Plantations II
is not the same as in other countries.
men can get work if they want it.
Senator Hockins-The Senator's ar
sument is Inconsistent II hs was put
in jail 70 work out his taxes he is as spt
10 Be lazy as IL he was frse.
Senator Wright agree with the
Senator from Maui CHocking. nIwas
Supervisor do not think would have
any trouble getting 50 cents worth OF
work out OF man in day Of ten hours.
have no doubt Senator Baldwin gets
- cents worth OF work ont Of the men
on the plantation in day. baldwin
We are nos Supervisors.
Senator Brown object TO the
amendment for another reason. 1t
throws too much power into the hands
Of one man. DO not wish 10 be under
stood as saying the road supervisors
would take advantage of it, but how
easy il would be for him TO sell 2 Ger
ufcats for five days work for SIS
when the work would not be done ar
all.
Senator Schmidt-The amendment is
in the hands OF experienced men. and
am willing 10 leave il TO them Ny
symp2thies are always with the poor.
and know the committee will do what
is best
On call OF ayes and noes the report
Of the committee was adopted
Senator Brown moved that the re-
port Of the committee on Section Is be
adopted.
Minister Damon would suggest,
Mr.. Speaker. thai il would be wise TO
have the net profits and gross reve-
nue. o. corporations from all sources be
considered In this matter We are not
dealing with individuals, but with soul
less bodies II 2 corporation be under
obligations 10 anyone the net profits
could be reduced 10 nil. Ii is an easy
matter 10 have alleged expenses eat up
the profits 50 that there would be moth
ing in the way of dividends for the
stockholders. This might easily be
done through items OF rebates, commits
sioas. freights. etc The Assessor
should have access 10 the figures rep
reSenting The gross revenue as well as
the net The net profits are not enough
for him TO be guided by. He would
move 10 amend the following para
graph: In estimating the aggregate
value OF such enterprise for profit there
shall be taken into consideration the
net profits made by the same, and all
other facts and considerations which
reasonably and fairly bear upon such
valuations" by adding thereto thess
words. also the gross revenue from all
sources.
Senator Brown object TO the
amendment as unnecessary. No corpo-
ration stockholders would allow every
thing 10 go 10 the manager and direct
orS. If dividends were not paid stock
holders would very soon look into the
expense items and see whether 500
600 or SO. Oe0 were paid out in salar-
les The manager would be very
promptly brought into court and il
would be proven wheater or not he was
conducting the business for the stock
holders
Minister Damon-It is the very first
step that has ever been taken here
toward an income tax, and as the bill
has been drawn from such an Act, feel
confident that il will ultimately lead up
10 that
Senator Baldwin, had G converse
ton with the Minister OF Finance last
night regarding this item We who
have sugar interests are ready 10 pay
fair tax: We are ready TO see q change
If il is fairly made. l believe in hav-
ing those who make tax returns include
the gross receipts, and that the assessor
should take those into account
Senator NeCandless-The part OF the
Act referring TO the assessors may not
be wise. because ne might do some
thing which would be against the law.
To ascertain what is necessary 10 ar
rive at in carrying out the provisions
il will b necessary TO have both the
net and gross revenue II sugar eorpo-
rations are taxed according 10 the in
tent OF this Act, there will be an in
crease OF sS5,o00 annually il the rave
nue. OF the country This amount Will
be from sugar only. All profit sharing
under this Act
President Wilder-Suppose q eorpo-
ration spends its profits in improve
ments, it would have no reserve fund,
and yet the property would be more
valuable.
Senator MeCandiess - That wound
come under the income tax law.
Minister Damon's amendment car
RED
Sections IL and Is passed as in the
bill.
When Section IL, referring TO insur-
anee, was read. Senator Waterhouse
asked why the life insurance was not
included.
Minister Damon-PremiUms on life
insurance are not payable here, as is
the case with fire or marine insurance.
To include this branch in the Act would
render the policies on the lives of a
great many people here void. for the
reason that the companies would ar
range TO have premiums paid at the
head Office, in New York or elsewhere,
while as an accommodation the agents
collect them and transmit the money
for the person assured
Senator MeCandlesS-I am like SEN
ator Watsrhouse, / want TO know why
life insurance companies are not in
Guided Other Legislatures may have
tried 10 impose the tax, and if they
failed perhaps il was because the mem