Weekly Arizona journal-miner. [volume] (Prescott, Ariz.) 1903-1908, 1907-12-11

royeniI.s. 81. i,5. $1,000, and expenditures.
81. g15V0.DD The net excess OF income
ov,r cxp.nditures. Including In the lat
t,r the nfty millions expended for the
panama Canal wns one hundred and
ninety million dollars for the six years
nm average uf about thirty-one millions
year This represents an approxima-
lion byfwc.n income and outgo which II
would bc hard to improve. The satisfac-
tury working Of the present tarin law
has been chiefly responsible for this ex-
,clicnt showing. Neverthelcss. there IL
an evident and constantly growing feel
inn among our people that the time is
r.,ridlv approaching when our system OF
revenue legislation must be revised.
THE TARIFF.
This country b. definitely committed 10
the protective system and any effort TO
uproot IL could not but cause widespread
Industrial disaster. In other words, the
principle Of the present tarin law could
not with wisdom b. changed. But In
country Of such phenomenal growth as
ours il Is probably well that every dozen
years or 50 the tar'm laws should be
carefully scnitinizcd 81 IA to see that no
excessive or Improper benefits are con-
ferrtd thereby. that proper revenue ~
provided, and that our foreign trade "
encouraged There must always be as n
minimum ~ tariff which Will not only
allow for the collection OF an ample rev
enue bat which Will at least make good
the differences In cost OF production here
and abroad: that IL, the difference n
the labor cost here and abroad. for the
wcll-being Of the wagc-worker must ever
h. a cardinal point OF American policy.
The question should be approached pu,,.
~ from "A business standpoint; both the
time and the manner of the change be-
INK as Ia arouse the minimum Of agita.
ii1n and disturbance In the business
world and to give the least play for sci.
fish and fractional motives The sole con.
sidcration should be tn see that the sum.
of changes represents the public good
This means that the subject can not
with wisdom be dealt with In the year
preceding a Presidential election, be-
cause as "A matter OF fact experience has
concluslvely shown that NJ such time
II is impossible To get men to treat II
from the standpoint Of the public good.
In my judgment the wise time TO deal
with the matter In Immediately after
such election.
INCOME AND INHERITANCE TAX.
When our tax laws are revised the
question Of an income tax and an inheri-
lance tax should receive the careful at
tcntiun Of our Legislators. In my judg-
msnt both Of these taxes should be par
Of our system OF Federal taxation
speuk difildontly about the income tax
because one scheme for an income tar
was declared unconstitutional by the
supreme Court; while In addition II IL
a difilcmt tax to administer In its praci-
To be exercised To see that u was not
evaded by the very men whom II was
most desirable 20 have taxed, for II ~
evaded 1t would Of course. be worse than
no tax at ALL az the least desirable Of
all taxes IL the tax which hears heavily
upon the honest as compared with the
dishonest man. Nevertheless, a GRADUATE
ed In come tax II the proper type would
De desirable feature OF Federal taxa
tion, and II IL To be- hoped that one may
be- devised which the Supreme Court VIII
declare constitutional The inheritance
tax. however II both far better method
Of taxation. and far more important for
the purpose OF having the fortunes OF
the country bear In proportion 10 their
increase In gize corresponding increase
ana burden OF taxation. The Govern
m''nt has the absolute right to decide as
To the terms upon which "a man shall
receive bequest or devise from another
and this point In the devoution OF prop
erty is especially appropriate for the
Imposition Of "A tax. Laws imposing such
taxes have repeatedly been placed upon
the National statute books and as ~
peaedly declared constitutional by the
courts; and these laws contained the
progressive principle. that ts. after 4
certain amount Is reached the bequest
or GIT, In life OF death. In increasingly
bnrdened and the rate VI taxation IN In
creased In proportion tn the remoteness
OF blood OF the man receiving the b..
quest; These principles are recognized
OF the world. In Great Britain all the |
estates worth $500 or less are practical.
~ exempt from death duties, while the |
increase Is such that when an estate
exceeds Ave millions OF dollars In vals
ana passes to a distant kinsman o. /
stranger In blood the Government ~
ceives all told an amount equivalent TO |
nearly NTH Of the whole estate. In |
france SO much Of an inheritance as
exceeds $l0.Vo.0CO pays over a nth TO the
stale " IL passes 10 a distant relative
The German law IL especially interesting
TO us because II makes the inheritance
YAK an imperial measure while allottins
10 The individual States Of the Empty
portion Of the proceeds and permitting
,ntin 10 impose taxes In addition to those
imposed by the Imperial Government
small inheritances are exempt but the
W., ,h Is 80 sharply. progressive that when
PROVIDED ~ u not an agricultural or
forest land. II IL taxed at the rate q
twenty-five per cent II VI goes to distant
rsihuves There IL no reason why In The
should not Impose inheritance taxes 10
ADDITION To those Imposed by the stats.
ana when we last had an inheritance TAI
.pout one-half OF the States levied suca
,aNes concurently with the Natona
Government. making combined maxi
mum rate, In some cases as high a
twenty-five per cent. The French las
nas one feature which IL to be heartfy
iSo,nnnehd.d; The progressive principk
" so applied that each higher rate Is I'm
pls'd only on the excess above the
amount subject to the next lower rate
~ that each Increase OF rate wn appy
uny 70 certain amount above a cerila
| maximum The tax should IL possible
De made To bear more eayfly upon tho
| I,hulhg without the country than With
III H. heavy progressive tax upon
ta m,s. fortune II In no way such
YAK upon thrift or Industry as a like TAI
"A M al