Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1908-12-24
PaEsENT sTATus oF TAx sILLs.


tax questionable real problem Of the
session-still in the air. The onset bill,
ordered to third reading in the House
through the persuasive eioquence Of Mr..
DeBoer and others, was finally beaten,
but kept alive By parliamentary dodge.
The majority against it, though not large.
was conceded to be decisive. The
friends Of the bin had shot their bolt ear
IL and the trend turned the other way at
once. Hope Of passing an absolute offset
abolition bill is now dead.
Then came an interesting move. Mr..
Howe Of St. Johnsbury, who favored the
bill, proposed that the special taxation
committee that reported this bill be in
creased by the addition Of two members
from each county, twenty-eieht in all, Sc
lected from those who voted against the
bill. The resolution carried and the
members have been named. The motive
for this adroit move may be speculated
upon. Perhaps It was q 0We-throw-
down-our-cards ;-it-is-up-to-you'' feeling;
perhaps it was hoped to enIighten and
convert enough Of the recalcitrant ones to
secure favorable report, which, under
such conditions, would carry great
weight. Anyhow, it was done, and
whatever. il anything, is now accom-
piishsd in tax reform viii have to come
from this queerly constituted committee.
Reports have emanated to the effect
that some compromise would be effected.
looking to the adoption Of a moderate
measure, but members OF the committee
state that this is unwarranted, and that
nothing has set been arrived at.
The administration program embodies
the passage Of three measures, and ii is
given out that II any one Of them falls ii
will be hazardous to pass the others; or at
least the full benefits viii not be reaped.
These measures are
l. Abolition OF offsets.
2. Uniform tax on intangibles.
3. Creation Of tax commission.
The first Of these having been side
tracked, the others are not being pushed.
It is likely that some attempt will be
made to hitch up all three in one bin. If.
united, more strength can be secured
than toadvance them separately.
The argument runs something like
this;-Abolition Of offsets means a large
increase in the grand list. This means
lower tax rate to realize the same reve-
nues, or more revenues on the same tax
rate Some Offsets are dishonest-these
do not deserve consideration. As to hon.
set offsets, ii is admitted that the debtor
viii probably have to pay higher taxes.
but it is held out to him that II the low
uniform rate Of i've mills on the dollar
tax on intangibles is adopted be can Dor
row money at a lower rate OF interest
than at present, probably, and so win be
gamer, instead Of a loser. The tax
commission is needed to see that the sys-
tep works properly.
Now the trouble is that the honest
debtor, and those fairly representing him
in the House, fear they will be caught
somew here in the gate. They know they
will stand to lose on the higher tax prop-
ositioni they don't know they viii gain
in like degree as borrowers OF money. II
is a chance, merely, that they will No
body will assure or guarantee them. Apv
proposition TO exempt or lower the tax
rate on loans providing the interest rate
its lowered gets knocked at once by the
reform element, indicating that it dis
trusts its own position and will take no
chances, while insisting that the debtor
shall trust himself to their tender mer-
eies. The debtor class, which never has
prohted to any great extent By depending
on favors altering down to it from above.
naturally looks askance.
As to the debts that bear no interest.
bills Of sale OF goods. etc, @sllenoe. The
merchant who April 1st has large stock
on hand that is inventoried by the listers
and set to him, can. il this bill passes. {
claim no offset for whatever part be owes
for. It viii be treated as his ana paid
for, and as it is taken on short credit ana !
no interest the lower tax on intaneibles. /
even II it affected his city creditor. which
it doesn't. would help him not at all. !
There is no way Of figuring it bat that
the merchant would suffer badly BY the l
abolition OF Offsets.
The whole thing is too vague end sha- /,
dowy to fool hard-headed vermonters. If
it is better to have low uniform tax on !
intangibles in order to attract them into s
the lists. why, adopt it and let the debtor
profit from any decrease in interest that
will ensue- He needs all the help of this
kind be can get. But 1on't blame him
for not putting his head in bag and leav-
ing the puckering string outside. !
ldyll Of the Open Season.
Deer hunting in New Hampshire must 7
be good deal the same as Il i II, w. /