The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1909-05-06
FRANK B. H0wE, Editor and Publisher
THE TAXATION QUESTION

column an editorial from the North
field News on the much discussed tax
+, problem. The News is firm beliey-
err in the present tax laws but wants
them enforced more rigidly, and the
Banner agrees with the News in so
I far as it would certainly like to see
the present laws once enforced just to
show what changes are imperative.
The writer, as a member of the leg
islature. voted for the Bacon bill, not
because he thought it would settle
the tax problem but in the hope that
il would prove an advance step in Sc
curing equitable taxation laws some
time in the future. The writer also
voted for the original committee bills,
and for the same reason, though per-
sonally strongly opposed to some OF
the things contained in the commit
fee program. These two votes on
questions of public record fairly rep
resent the attitude of the Banner to-
day which is one of uncertainty as to
the exact method to pursue, but Will
ing to try either or any plan proposed
by honest, capable men, believing
that no harm could come to the great
body of taxpayers and that out of the
experiment education would come that
would result in actual progress.
The Banner cannot agree with the
News though if it believes that the
radical enforcement of the present
laws would result in an equitable set
Element of the tax question. There
are some things in the present system
which if enforced literally would bring
the blush of shame to the state.
For instance we know of one fine
old gentleman, now too advanced in
YEARS to support himself and his fam
ilv which consists of an aged wife and
crippled daughter Their home is
in a town where the tax rate is around
three dollars. The old gentleman has
about three thousand dollars In mon
ey which he loans out to neighbors at
five per cent and which he does not
put into his tax list. The $3.50 inter
est which he gets year supports the
family in very modest fashion.
What would be the, result of enforc-
ing the tax laws in his case? OF the
$3.50 interest that he gets $50 would
go TO the town in taxes leaving only
$50 for the family Enforce the tax
law and that town would gain $50 in
taxes, but with it would get three
town paupers. His farmer neighbors
who borrow his money would have TO
borrow elsewhere and probably pay
six per cent. Would the town or the
state gain anything by enforcing the
law? This is only one of thousands
of cases that exist. Enforce our pres
ent tax laws to the letter and you
either drive Vermont money out OF
the state or educate Vermont citizens
to perjury in self protection.
We have yet to be shown why 1t
would not be right and correct bus
mess principle to either exempt from
taxation or assess at low fixed rate
all Vermont money loaned at, say four
and one half per cent, on Vermont
real estate or for the development OF
Vermont business. We believe that
this change alone would bring home
millions of dollars of Vermont money
now sent out of the state for invest
ment, and that would mean relief for
all who borrow money and that in
cludes about everybody doing business
or trying to pay for farm or mod
est home. VIII the News, in its wis
dom, show us wherein we are wrong
in this theory?