The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1905-02-04

TALK TAXES
Continued from Page ID


| there should be no reference to 'Epublic
| stocks and bonds,' other than of spe-
| cifc exclusion character The law should
clearly state that all property must De
material and tangible, and, as such,
| both real and personal, should be taxed
| wherever found, always exlusive, how
| ever, of notes, mortgages, deeds, or
other title papers, book accounts, stocks
and bonds, which, in the law shall be
! specifically regarded as only evidences
of property and therefore non-taxable.
| 3. Doubtful Character of Paragraph
No. 10-Of course, No. 10 is intended
as protection to Island merchants.
Its full aim need not here be gone into.
But, no matter how desirable, or just,
it may be, its place in the law comes
! more under the department of income
taxation than under the property tax
provisions. But, even so, its feasibility
would certainly be tested, along con-
stitutional lines, such as "a discrimina-
ton tax law or "a law in restraint
of trade. - L am sure the agencies, or
contingencies, would at once refer to
and apply all of the rules and regula-
tions of ''Interstate Commerce., etc,
to upset it.
4. Your Committee Recommends
ton ougl, to be looked into where, at
the close, they would retain from "Sec-
tions 821 to section S37, inclusive, of
the Present Tax Law" If my impress
sion is correct there have been some
changes in some of those sections. If I
understand correctly, all that pertain
ing to fire and life insurance has now
been placed under the care of a special
insurance commissioner, which is differ
ent from the plan named in the sections
referred to touching upon insurance re-
turns. Probably the Committee intend
ed, however, not to interfere with ex-
listing laws more than upon the points
named in their report
5. One Subject Not Touched Upon
Your committee probably also thought
(if they contemplated it at alD, that
it might not be in their province to
make special study and report relative
to the advisabiity of doing away al
together with the so-called property (?)
lax law, known as Enterprise for ]
Profit, where taxation is attempted on
: an aggregate value - plan. This plan {
las always been unsatisfactory In the c
rllgHa II .
tudy of incomes and expenses to sucn a
n extent that it practically becomes a
econd income tax, in addition to our 5
ocular income tax, although under the Y
Misleading name of property tax. And e
econdly, this Enterprise for Profit, - t
Aggregate Value" law, in its at p
empted application, has, of necessity, fl
one so far and altogether into the S.
calm of the arbitrary and intangible, II
5 to become burdensome and exceed W
Ugly unsatisfactory. I think it can re
ell bear consideration, if there is to be W
ny tax revision at all. 81
Would it not be well, before accept Il
g the report Of your committee. in 10
nal adoption, to refer the general sub Ell
ct of taxation back again to it, with al
digestion for it also to consider the b,
aggregate value idea, as embodied
lder the Enterprise for Profit O..
roperty Tax Law2 How would it do ta
invite the Chamber of Commerce and
anters' Association to join in the
udy, and arrive at a mutually agreed "