The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1906-12-26

eao uece9eity Oh ptooeeuln& VIII
wisdom and self restraint, and may
make up their minds just how fal
they are willing to go in the mat,
ter; while only trained legislator
loan work ont the project in neces,
lsaTy detail. But l feel that in the
near future our national Legislators
should enact a Law providing for q
graduated inheritance tex by which
a steaily increasing rate of duty
should be put upon all moneys OF
other valuables coming bygift, be.
Iquest. OF devise to any individual
or corporation. 1t may be we'll tc
make the tex heavy in proportion n
as the individual benefited is re-
mote of kim In any event. in my
judgment, the pro rata of the tex
should increase very heavily With
the increase of the amount left Go
any one individual after a certain
point has been reached.
tits most desirable to encourage
thrift and ambition, and q potent
source of thrift and ambition is the
deeire on the part of the bread.
winner to leave his children we'll
off. This object can be attained
by making the tax very email ON
moderate amounts of property left;
because the prime object should
be to put constantly increasing
burden on the inheritance of those
swollen fortunes which it is Ger.
tainly of no benefit to this country
to perpetuate.
There can be no question of the
ethical propriety of the govern
ment thus determining the oondi-
tions upon which any gift or in
heritance should be received. Ex
aotly how far the inheritance tax
would. as an incident, have the
effect of limiting the transmission
by devise or gift of the enormous
fortunes in question it is not neces
sary at present to discuss It is
wise that progress in this direction
should be gradual. At first per.
manent national inheritance tax
while it might be more substantial
than any suoh tax has hitherto
been, need not approximate, either
in amount or in the extent of the
increase by graduation. TO what
such a tax should ultimately be.
This species of tax has again and
again been imposed. although only
temporarily. by the national gov.
eminent. II was frat imposed by
the aot of July 6, 1897, when the
makers of the constitution were
alive and at the head of affairs. It
was graduated tex; though small
in amount. the rate was increased
with the amount left to any indi-
vidual, exception being made in the
case of certain close kin. A simi-
lar tax was again imposed by the
act of July l. 1862; minimum
sum of 81 600 in personal property
being excepted from taxation, the
tax then becoming progressive 40
oording to the remoteness of kin.
The war revenue aot of June 13.
1898. provided for an inheritance
tax on any sum exceeding the value
of $4,000. the rate of tho tax in.
oreasing both in accordance with
the amounts left and in accordance
with the legatee's remoteness of
kin.
The supreme court has held that
the succession tex imposed at the
time of the civil war was not q di
reot tax but an impost or excise
which was both constitutional and
valid More recently the court. In
an opinion delivered by Justice
White, which contained an ex.
oeedingly able and elaborate dis.
cussion of the powers of the oon.
gress to impose death duties. sus
tanned the oonstitutionality of the
inheritance tax feature of the wal
revenue aot of 1858.
| In it's incidents, and spsrt from
the main purpose of raising. reye.
lnue, an income tax stands on an
entirely different footing from an
inheritance tax; because it invcl.
yes no question Of. the perpetuatior
of fortunes swollen to an unheaIthJ
size. The question is in its es.
ssnce question of the proper ad.
justment of burdens to benefits.
i As the law now stands it is nm.
Idoubtedly difficult to devise a na.
tional income tax which shall