The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-02-22
TAXATION

Editor Messenger:
The following extract, in regard TO
the revenue or tax bill to be pre-
scented to the legislature, is taken from
the Charlotte Observer OF the 18th in
slant. and 1 commend il to the careful
consideration Of every citizen Of this
city and state. Here it is-read it:
Your correspondent today saw a
rough draft OF the revenue bill. Among
the many new provisions in 1t the fol-
lowing are prominent:
First. the method of taxing indus
trial corporations. Those are assessed
very nearly in the now in
but the payment OF tax Is very diff
ferent. The treasurer OF the corpora
ton pays the tax direct to the treas
urer of the state and not TO the shers.-
The treasurer must furnish a list OF the
stockholders. the number n value OF
their shares and their place OF resi-
dence and the auditor certifes these
values TO the authorities of the coupn-
ties in which these stockholders reside
and the value of their stock is charged
up in the county of heir residence. not
| against the stakeholder but against the
corporation. This subjects mills built
| in the country to local n city taxa
ton because it is a wei known fact
that the majority of stockholders live
in towns.
"2. Income tax. This allows only al,
exemption Of $500. Heretofore il has
been 1000. Mechanics, railway en-
ployes and all those earning wages of
skilled workmen will pay what they
have never paid before. 1 per cent on
all their wages above $500. The en-
gineer who makes 81 200 will pay all
the taxes he has heretofore paid in ad-
dition thereto 81 to the state and $14
to the county if the latter sees fit to
levy a tax. Practically, this is an in
creased poll tax of S21.
These are the questions proposed to
be asked on the listing blanks: What
was you gross income during the I.
months ending June 1st. from interest
on mortgage notes: from state OF
United States bonds: from dividends OIL
stock; from rents; from salary and
fees; from county or city bonds; from
profits on business: from annuities;
from trade or profession; from any
other source.
"A number of these questions relate
to kinds of income which are not eax-
able, such as rents for real estate
which is taxed, from dividends or
bank stock which is taxed, and for divi.
dends on property which is taxed.
THE mount of the income tax is fa1
heavier than was ever known before
an excess over $500 and I'D to 50, 900
per cent; over $2.O 600 and not over 81,
600. IL per cent; "a 1000 to $4,000, 2 pc
cent; $4,000 to $4,000, 2k; $1,000 to SO.
600, 3 per cent.
SO. Another novelty is an inheritanc+
tax. This is a very voluminous sys
tem, it is predicted will be i'm,
mensely unpopular.
In the course of a talk with one q
the foremost democrats in the stat
about this bill he said: Tt is dangerous
1T is oppressive and inquisitorial. L
passed L believe it will parable bust
ness and defeat the democratic party.
He is absolutely conservative and say!
this is his deliberate Judgment"
Chief Justice Marshall truly SAID
1.-THE power t. tax is the power to de
stroy," and this declaration of that grea
judge will be fully realized if such
bill is passed and becomes a aw.
No only does it Seek to a X every
thing from the taxpayer while living
but if anything Should escape, that ais
is to be taken from the poor widow
n orphan of the dead, by the I'm
holy inheritance tax" The poor tax
payer is bounded to his death and at
tackled even in his grave. If such a hi
becomes a law, it will be the m TO- mer
CHESS, oppressive and bloodthirsty sys
ten of taxation ever adopted in thi
state. And when to the state a men
toned are added the county and cit
taxes the extortion will be perfectl
appalling.
} I fully concur in the opinion of ION
of the foremost democrats in the state
quoted above, that "it is dangerou.
oppressive and inquisitorial," and wi
paralyze business and defeat the demo
cratic party" And it Should be de
feated if it ever enacted such a aw.
AS the bill has not yet been consi6
cred by either house of the legis
lature. the danger Of c~onfiscation an
l ruin may be averted by prompt actio
on the part of the people. Now is tn
: time to strike ana strlKe hard.
TAXPAYER.