The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1909-03-27

$1,000
The Young man pays
$3.50 city tax on as
sessed value of prop
crty .-.............. 9loVV %-o.oV
1-l0 of ! percent. bank
tax ON ...:-........ I,4VV 5ou
.S1.60 city tax on second
mortgage ........... SUI ~ ~
Whole amount actually taxed S5,
500 total tax, $500
I'm the above case, the young man
invested 100 and pays practically one
half of his entire inycscmenf 100 taxes
while the property worth $500 pays
ON $4,000
Is the Herald quite correct IN It's
reasoning? Allowing that there is
bank u Rutland that will furnish
money ON such a liberal proposition
and a good naurod contractor to DO
the rest. the property put into the list
al its fuU value would oblige the
young man to pay tax of $3.50 on "a
$3.50 rate. we fail TO see how he
would ge. soaked for $500 as the
Herald figures IT,
n is true that the said y M would
/ nay taxes ON $4,000 more than he is
/ worth and that Is not right But the
/ tax "reformers' In the recent Legis-
| Iature we're so determined 20 shoulder
more taxes upon people, who did not
own The property they held, by abol-
/ lshing offsets. that they had no time
10 effectively discuss double taxation,
as their constituents expected them
to do The Herald itself was win
those reformers.
If the real estate was all put INTO
the list at nearly or quite it's full value
i'm every town in the state and the
largo additions TO personal lists
which would surely follow a deter
mined movement on the part OF the
attorney general 10 enforce the law
the rate of taxation would be so great
| v reduced even in the first years eX
pertinent that the Heraids young
man would probably pay less taxes
than the figures given above
The Herald has another imaginary
case I'm a town where the tax rate Il
80 so and man derives his income
from intangible property notes stocks
and bonds. According to the eonlem
He is worth about 100000, and hi
average income from these intansiu
les is 4 1-2 per cent. giving him moo
est income of $3.50 a year Now IN
law stems in and presuming that he be
comes suddenly resolved ON tnancla
suicide he reports his property IN iul
and paws over TO the town 500, NOR
than half his actual income. TN
man gentlemen. is one of those VICE
ed tax dodgers. He deliberately cor
ceals his property in order that II
J may have enough revenue rom
small fortune to live on. BY all mean
let us enforce the majesty of the lay
, and compel the owner of these secul
flies. all of which have already PAL
fax TO deliver over to his town NOR
than half of the lawful income
. If the income ON the intangible pre-
perty is only 4 10 per cent. 1t Is no
worth lbs face value and could not D
taxed ON that basis. If the propert
has already paid a small corporaVo
J tax the situation Is no worse 10 ."
Z the least, than that OF MOI .s"s,"
: estate which is paying a double laSS
no remedy for which was earhesll
. urged by the Herald of the laSt lesI'
latiye session. The owner ol the u
Dnelb.es would also have anothe
chance to- save his income "ithou
lying to the tax listers. Ii the stock
, we're really worth par he could SCI
. them and place the money In saving
hanks and net four per cent ther'
from. ,,.. ,.o,
} ent tax laws are without fault as ma
already been iusnuatcd by the ne
ald IL has already mentioned IN
wrong of the double taxation IN thhI
l article and there are other laulu
some day, too perhaps Che law WI
ax The maximum rate OF taNauon q
something like $3.50 but that wi
, come with an improved system
I management of town affairs.
. II occurs to the News that the IN
martial enforcement of the present ia
laws could be carried out without e