Morgan County republican. (Versailles, Mo.) 1906-1914, 1906-12-06

tors to a position OF utter inferiority and
subordinatiOn
Inheritance and Income Tax.
It was expected that the president
In the necessity for the curbing OF enor-
nous fortunes, and. he has done so by
accommodating legislation for both in
Heves the government should. impose a
graduated inheritance tax. and, II possi-
Il am well aware that such a subject
as this. needs long and careful study In
order that the people may become famil-
may clearly see the necessity OF proceed.
ing with wisdom and self-restralnt. and
may make w, their minds just how far
while only trained Legislators. can work
out the project in necessary detail. But
] feel that In the near future our nation
ing. for q Graduated Inheritance tax. by
which. q steadily increasing rate of duty
should be put upon. all moneys or other
devise to any individual or corporation.
It may be well to make the tax heavy
IN proportion as the individual benefited
Judgment the pro rata OF the, tax should
increase very heavily with the increase
OF the amount left to any 3ne individual
lN''' '"' 'N|'
II Is most desirable to encourage thrift
and ambition. and a potent source OF
thrift and ambition IL the desire on the
part Of the breadwinner to leave his chill
drcH well of. This object can be attained
by making the tax very small on .moder-
the prime object should be to put a CON
stantly increasing burden on the ihher-
itance Of those swollen fortunes which
II Is certainly of no benefit to this coun-
try to perpetuate.
There can be no question OF the eth
ical propriety OF the government thus de-
termining the conditions upon which any
gift or inheritance should be received.
Exactly 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 necessary at present to discuss.
It is wise that progress In this direction
should be gradual. At first a permanent
national inheritance tax. while 1t might
be more substantial than any such 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.
inheritance Tax Constitutional.
This species of tax has again and again
been imposed, altho only temporarily, by
the national goyernnlent; It was first
the makers of the Constitution were
alive and ut the head of affairs. 1t was
a graduated tax: tho small IN amount.
left to any individual, exceptions being
made in the case of certain close kin. A
similar tax was again imposed by the
act of July l., 1862; a minimum sum of
1900 in personal property being excepted
from taxation, the tax then becoming
progressive according to the remoteness
1893, provided for an inheritance tax on
any sum exceeding the value of $4,000.
the rate Of tax increasing, both in accord
ance with the amounts left and In nc
cordance with the legatce's remoteness
of kin. The supreme court has held that
the SUCCESSION tax imposed at the time
of the civil war was not a direct tax but
an impose of excise which was both con-
stitutional and valid. More recently the
court, IN an opinion delivered by M Mr.
ceelingly able and elaborate discussion
of the powers of the congress to impose
death duties, sustained the constitution
atty of the inheritance tax feature OF the
war-revenue act of 1898.
Is Income Tax Constitutional?
'In it's Incidents, and apart from the
main purpose of raising revenue, an
income tax stands on an entirely differ
ent footing from an Inheritance tax, be-
cause it involves nc question Of the per
petuation of fortunes swollen to an un-
healthy size. The question is in it's
essence ,Hse, a G=" nTST1ion H ,d the hera nf%per aajuTtc
law now stands 1t Is undoubtedly diff
cult to devise "A national Income tax
whether it is absolutely impossible is an
other question; and if possible it is most
certainty Iesiraplc. ne ntst purely m
come TAX ihW WITS IiSt ny we congress
IN lsbl nul 'hc most i'flportanl Jaw deal
ins WIN 'te SupJ,t' W"S 'hit OF is9i'
ms thc court he'" W ne u'colStit"-
''rhe question Ia undoubtedly very in
tricatc, d"ilcalc' ana Troublesome. h
decision OF INC couTt was ohly reached
by one majority. 1t Is the law of The
land. and, of course, Is excepted as such
ana Loyalty obeyed by an good citlZ"ns.
NtNcfthtl'SS me hesitation evidently
g.It 80 tI... ,,trt "a ~ "a tFl,4l. ia --g--