Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-02-06
A pnOrLN sOUaoa og lEvEAun

!
ture, In the form OF bill. T. augment
tns public revenues by ievying tax
on tho estales OF deeetents. Tne az
nual report o. James a. R1herta
com ptr5ller OF the state OF Now YORK,
deals with this SUBJECT a, s1ms length /,
and ifers some valuable suggest 5us
respecting H.. That state has had n
law Of this sind Tor yoArs but the tax
required by 10 To b. c1llec!ed Ia not
always renlzlI on acc iun, Of loop
holes in the law whici admit OF eva
sions, ana for the closing OF which
amendments are psop1sei by tho
comptrollet
We q tote rom his repoti:'
1t occurs to mo also that It would no
] well Tor tho Leglsl ture to giyo very eri-
I Gus cousidera ION to lhe question as 10
whether tho collateral inheritance or
| transfer tax laws should not bo material
| ly amended SO as to provide a graded
scale that Will make largo estates yield
| worry much more Tux than they now do.
| AT present an esta going to lincls, that
II, heirs lof blood, pays per cont, and
| one going TO colialuruls and strangers to
the blood pays 3 por cont. All estates
| going to lnoals, real and personal, un-
der $4,000, are exempt from taxg,ior,
aud only tho personal property of the
lineals ABOVE $4,000 IL taxable. Estates
OF less than $500, real and personal, go
ing to collatorals,aro oxemp but boIh tho
realty and personally of tho collateral
above 5000 are taxed. Bequests to domes-
10 and religious corporations and to
bishops are exempt.
1t Will be seen from this that grading
Of tho tax IL attempted in tho present
law, but 1t is serious question whether
II docs not fall far shorL of accomplish
ing that which should DO attained. If
an estate OF less than $4,000 should bo
| exempt, why should not one millions
greater pay higher rate than a $4,000
estate2 a large estate would certainly
DO less burdened by the payment OF
higher rate than small estate would DO
by tho payment OF lesser one.
The report proceeds to argue in favor
of taxing more heavily tue Estates Of
millionaire, especially such as consist
largely OF stocks and bonds and other
personal property. Statistics are given
TO show the difficulty OF collecting taxes
on tuoh estates during the lifetime
OF their owners, an argument in favor
Of taxing them more heavily when
they como under the jurlsdictiOn OF
the probate court.
Bearing upon this phase OF the
subject, but suggesting oihern also,
are the following paragraph:
II has been maintained by eminent
authorities that 1t would DO wiser and
less demorRlizing ii government should
| ioreko all at, empts to tax personal prop.
| erty during the life OF the owner, await
a transfer following death, and then
! levy an assessment large enough to
make up for tho previous years OF ex-
! empiion. Tho tax, then, would bs no
hardship to anyone. The decedent
would have been allowed tho use and
| enjoyment OF his fortune during life,
and The beneficiary would simply pay a
| fee for the privilege OF receiving nn estate,
in the creation OF which he had little or
no hand. Against tho payment OF such
q fee or tax he would have no reason TO
complain, rs his right to receive it comes
from the state. is by the grace OF the
state.
Another reason why largo estates, par
ticularly the personal property of such
estates, should be made to pay literally
toward the support OF government in
the way of an inheritance tax, is because
| many of them owe their very existence
to invors conferred by government in
one form and another. The government
throws its strong arm around the cap
| italist in tho shape of protective tariff;
| 1t gives the inventor exclusive rights in
| tho way of a patent covering long series
OF years; 1t gives him and his friends
| special privileges in the shape OF cor
| pOration charter, whereby they combine
rs. - i 81
| duct vastly more successful business
| than they could II acting individually:
| it gives them the right OF eminent do
main, by which they overrun the inter-
| ests of the individual, whether he likes 1t
| or not; it grants them limited liability as
| members OF the corporation; IL permits
: them to issue bonds and borrow money on
| them for long periods, something an in-
| dividual cannot dOi IL protects them in
| their corporate rights by no strong arm
OF the civil and military law; 1t protects
| the lawyer, tho doctor and other profess
| sional men from uueOucated and un-
| skilled competition, lv requiring n
| thorough course OF study and qualify
| ing examination.
| In these special privileges conferred by
| government lilo the foundation OF most OF
| the great fortunes OF the country today.
| Moreover, they arc largely composed Of
| personal property, which, as already
| shown, very largely escapes taxation.
| In Justice, therefore. to the mass Of small
| land owners and taxpayers who have
| from year to year borne more than their
equitable share Of the hurden OF taxa
| ton, l maintaiu that 4 transfer tax upon
| large estates that would mako up, to "A
| certain extent, for tho years OF eXomp-
ton enjoyed, would be simple justice.
4neIegort gives thu iOlOWlus stals.
,icr, and also Others not here repro.
duced, showing 70 what a great extent
the burdens OF government in Europe
are oorue by an inheritance tax;
, As stated above, tho ratio of Inheritance
tax in this stale ranges from por cent 10
5 por cent, his is "A much lower ratio
than rs imposed IN other countries Of The
world, In many OF which this mo.hod OF
taxation has been in vogue tor centuries.
The following arc the rates in tho coun-
tries named:
Per Cent.
Great Britain .....,.,...,...irom t. 10
from 10 90 II -
Germany ..".,..o.............iro To 10
Austriu.,.... .,...... ..,,,ltOm / 10 90
luly from 1876 20 IS
Russ accommodation 30 $
Holiona,....,.,. .........,.....lrom l TO 10
SPAIN, ....,,...irUm 1 10 10
Canada tunaro, Nova
Scotia aud q 4ubOul. from 30 to 10
SwitZerlHnu......,.......... to ~
Nic.orn lAustrslJJ -.... from 10 10
| belgium ............. .,....,....trOu 10 1873