Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1902-03-19

| it is said to pay fair dividend unon
that amount. And yet this paper
openly admitted, in CONTROVERSY
that it was assessed at only Sl6.OiC
and taxed on one-fourth of that sum
1t is evident that the owners of mi.
paper withheld a large amount of its
value from taxation, but no ferret or
treasurer has sought to hold this Jour-
nal guilty OF tax-dodging, while it has
been vociferous in demands that every
widow should be taxed to the full
limit of her moneys and credits, and
that every share of corporation stocks
held by the old men of its CITY shall
pay second tax when the corporat-
ion itself had been fully taxed.
Much of the stock of great lumber
firm, with headquarters in an adjoin-
ing state, was held in the city where
this paper is published. The assets of
this lumber company were in timber
lands, in mills and manufactured Ium.
Der. Much of its property had always
been held in Iowa. And everywhere
its property, wholly visible, had paid
the full taxes of its locality. And vet
the tax ferrets, justified by the law of
Iowa, set up claim of withheld taxes
amounting t. $4,000 against the estate
of one Of the stockholders of this lum-
Der corporation. This they afterwards
reduced to $4,000, for which thew
commenced suit Is there any doubt
that every cent of this claim on stock
values is double taxation, and wholly
unjust? And yet out of Just such in
equities comes the harvest of the fer.
rets and the boosted returns of the
counties that have employed them. II
is simply spoil gathered in from the
dOubly taxed widows and orphans and
old men and women under the in
equitable laws of Iowa.
1t is to be hoped that the Twenty.
ninth general assembly of Iowa will
not continue this injustice. If the
members of the legislature admit, as
they must admit on reflection, that
old men and old women, and widows
and orphans are generally unfit for or
binary avocatiOns, and are absolutely
driven to money lOanipg for safe in
vestment of their means, then they
must admit that the situation of these
people Is fast becoming very unfortun-
ate under existing laws. When inter-
est rates were eight or even seven per
cent. the double taxation was not SO
burdensome. But now, with interest
rates on mortgages five per cent. or
less, and upon bonds and stocks four
per cent. or less, of which two per cent.
is taken for taxation-the situation of
these people has become one of great
gravity. If under our tax laws it takes
$lOO,O of money accumulation to give
a widow or old man $1,000 a year of
net income, what is left for those that
have only 1000 or $4,000 or 500, 900 of
capital? Under our system of double
taxation rigidly enforced by pains and
penalties and richly subsidized tax fer
rets, the income of the old man or
woman with capital of $40. 900 invest
ed In mortgage loans or corporation
bonds and stocks, is from $500 to 5000
per amman about the earnings of a
common laborer. Is not this the fact?
And does not the simple statement of
lt show the monstrous injustice of it?
Does it not mean for the widows and
orphans and old men and women of
Iowa distress and mendicancy, or else
Punishment from the state?
Respectfully,
One of the Old Men.