Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1898-10-13

tho best results to the state.
In rpSpCCt to the revenue, however, |
there is opportunity for improvement.
That available to the state from taxation
is about half a million dollars each year;
$3.50, 900 of this sum Is raised by Il tax on
corporations and other similar groups
of persons each year, and the
balance, mbout si2i, OC0 a year,, is
of the State. II would bc, in my judg-
mcnt, unfair and unnecessary to tax the
people for state expenses more than this
sum. Rather the tax ought to be wiped
out altogether. Tho people arc already
paying taxes enough. Nor as at present
advised do / think the tax on corpora
tions, savings banks. etc, ought to be IN
creased. 1t is a serious question whether
these institutions also are not. as u mat
ter Of fairness and justice, all around.
contributing more than their full share
to the support of the state government.
Nor, as between such institutions. do |
think there is great inequality i'm the
amount contributed. Each group of per-
sons Under the corporation tax law in
comparison to the others, seems to me
to he bearing its fair share of the burden
of 'taXation, SO that 1t Is necessary to
look elsewhere for an increase of revenue.
| ask your serious consideration. there
fore, to a proposal of amendment to the
present tax law which shpll offer some
inducemcnt to persons, at present nom
residents of the state. to become rest
dents, so that IL revenue can be derived
from them which shall be- added 20 our
State income, and by which their wealth
may be added to ours to the end that our
taxes may he less and the states income
greater.
In many of our sister States there has
been radical and extreme legislation with
q view to reach the estates of rich people;
whereby Inheritance taxes. income taxes,
and -cStravasant and unequal local taxes
are imposed on this class of persons To
their infinite distrust and annoyance.
Legislation of this character is growing
In severity and volume, with the result
that, upon good reason or otherwise, a
great many large fortunes, and iunumcra-
Die small. ones. are being driven from
those States into other States where the
laws of taxation are less drastiC-Or out
of the United States altogether. Such
fortuncs will never locate permanently
until they have some harbor where they
can anchor in safety, and whore they
shall be insured against attacks from
what they deem, justly or unjustly, cX-
trcmc Hesitation.
1t is with Il view to inducing such storm
driven individuals who are seeking hclp
and relief 10 come and give the state Of
Vermont the benefit of their wealth and
receive in return that safe and certain
protection which this state can give as
well or better than any Stat" in the
Union. that | suggest the advisahility Of
adding to the present corporation tax law
a provision that shall allow any nom
resident. who may hereafter become n
resident Of the state, the privilege Of on
tering into u contract with the State
under its seal for u term of years, say
30, whereby such persons taxes shall be
liked at q specific sum annually. such
hNcd sum 10 be measured by n percentage
of his sworn income or to bo an amount
- trr.r1 ttt,n h,t root, - ,nr, tnl ,sga,, ga.
pointed by the Legislature and the party
who avails himself of this how. Such sum
would be in lieu Of all other State or local
taxes on his personal estate. and to be
paid directly to the treasurer of the State
for It's benefit annually. the Fundamental
idea being that Il nonresident may come
here, and before assuming the responsible
litics Of citizenship. may receive "a con-
: tract that tho state will tax such person
an annual specific sun to be agreed upon
and no more for the term of his contract.
Once the contract is siened by the State
the nonresident becomes Il resident and
pays his annua fixed sum and Is bothcrt d
no more pending the life of his contract,
n as to taxation either by Legislature OF
- listers or appraisers or courts. As to any
real estate, such person may desire tn
+ own in the State. it should be provided
- that such real estate shall be taxcd a.
- other real estate to the town wherein II
~ situated hut that enough to allow such
Persons a homestead. say one hundred
acres In the country or one acre in tho
, city shall be Exempt. That Is to say.
> whatever IL assessed against such home.
= St'a" ny tno Town or Guy Sh"II n' ","u'l'
- cu t"'H Er'F ir"ih inc amount SUG' pr
n son l"Ns 10 tn' Ht"tt' l"c P'lNlI'E" o'
" tnlS Ia" Su"u'u "' llnl'tvu 10 Nu'h P''S'"'
~ er' "l'lHE 10 pay ~ l'aSt "N' HUii''''
q u"lIarS per anllum 10 'hS suite anu lh'
f contract S'Guiu run LOT 'hc nth''' 81 '''
- l'rF"h ahu ~" ''Eal 'pr'S'n'"'N'
mere should a!so De required from sue!
Y persons d deposit OF Securlt'S OF " non
10 secure the payment OF the tax dhriii,-
,"e 'ciW VI ti'S CONTRACT I"'i' SHp"''
ne Il commission 'ppolhieu Whl'n ShaI
nave authority 10 VhI'r INTO Such con
tra''S on nenall OF IN" STATE ana 10 aU'
# the scat Oh IN" ota'o ther'to,
l can see no R"oo REASON why t"V 9t'lo
uhucr I'tlSIatloh lhat Sha'' properly pr"
tcct inc rlEhlS ol every present ritiZ'n
"hould not open ltE "''rS I" TINS cl"sS %
} persons ana receive II proper ana l'Altl!h
> ave lnci"'S" 10 It's revenue Nhlch II cll
" ontalh IN no othcr way
u II II is lru". ahd II is that inc lhorcas
'e ing Wcalth oil cltl@chs OF oth'r states }
I hclhg hiduen ana smuSSied rom on
W pace 10 another 10 aNolu taAa'oi' uuJuS
- or otherwise, what h'rm In TN" pocpl" q
~ TINS state II we invite such persons 1
y locate mere under u contract whlch
~ falr to the state ana hNcd ana iosltlN
% Such Il law would not lnirlnse the con
q sti'utioh' IN my Judgment ms the PROPOSE
ton SIMPLY addH 10 the present corpora
W tlon TAX law ehothcr group OF person
~ NnO are taxed 10 the state III auultloI
VI To railroads, saving banks, trust com