The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-01-22

DER the proposed law. II th.rc is dis
' inNioual property holder.
The Stock aud Hond Tax.
r ~ nunoer OF individuals aud two
i HtNs ti,a n,n OF aeknowisdsel stand
Richmond Journai-havc cri,icizcJ liz.
PROPOSED Prop Fletcher bill. which is to
h iSxy a iow rate OF tax on stocks aud
,'ii, has nothing to do with. the Byrd
XIII XII. !! Is one OF a dozen subsidiary
c,n,Ia m.le are to DC introduced in ac-
t ." ,. me Tax Commission Rnt The Tax
,r pei. ,,, on, Is firmly behind this meat
! "rT "'ih neIlieves 1t "m!ncntly just
! Illustrate its justice. 1T a case
/ DC cited which will appeal 10 The Rc,.
. iii me case OF ItanviIl" widow.
f, hn aus 9 w Sna husband died and LEFT
Trustees were appointed: tho fnn.is
49,, 49," ,nFsSicd In real estate mort
noflS"ge paid per cant or $50 The
Tea' Yet from this amount--her ofIv
, nnS"h nc panytllc widow had to
| p"nSillc $3.50. In other wor,I., si,a
imno 10 pay ~ per cent. OF her total
IVniTohiS IN taNes., Is there a man i'm
~ r ,E VINO VIII defend this? Yet il
IS mis- very condition which the E'ietch
81 mii VINE nlntroducad. viii SOCK In
be 'i made u WI, VIII ploytds that Inc tax
ate 10 the earning cunncity ~ ~,
property taxed - 'he
I is In,,o : NH. NH be argued. suppose this
.he income from the tax and n nor M
Srsa""nt decline In The public revenue
~ , meet this there must be increnscs
,tai estate. Experience has moi shove
80 80 ~ De the case. but were II thn
d deer IS m M SIN be defended. II a
MEAN an increase in the tax on real
$3.50 xie. that increase would b. iusti.
MAIN mai SO Ion. long ~ the present rate re-
.,,t,
certainly discrimInated against "''
tha would there De Il decrease In
M me rsaenne ana would there have to
on tangible personality ana real "sl
u rnte' Experience answers. no. Bust !
.t rss men en-, WHO ho now ey"ds the tax on
Justihed in evadIng II but for their |
en,m, would pay u fair tax. Hidden |
taN books, and the increased valuation
or intansiales would moro than oGfse,
d d,re az, necreased tax, This is no Idle !
teen years the valuation Of intanr,bI,.
INCREASED from $4,000 900 to siSS,non.
Capital LIS Being RepeIlcd.
Something must be done To nuJ or,.
eiu policy OF ferreting out intang ibles |
ra an SS Me a .nsm io at The Hqt prSnyrtE
we are repelllnE capital at our Dor.
ders Such methods cost Ohio the 2Ss-
n rnemSe OF Je Ohm D; E9ckctcllcr a>cl senr
our capitalists from the state.
mc aS an IN lWniS r!ai1 Of what this may
trustee of large estate SATURDAY,. |
With whom he discussed the question
nc man was no plutocrat. no capital !
sense business man. who managed the
estates Of his wife and OF former
ouS' ne, partner, estates won by hon |
And here is what this business mar
said: II cannot pay Richmond ana |
,aSsb,o ,aS SssDr unless invest IN non
income of the estates 1 control is re-
duced by at least | "a per cent. Tn I
less relief comes shall have to move
where ean get to rhads'P poss
Virginia want TO see this man and
,, like him driven away? Does .
land boundary and warn away cant
talists? Yet She is doins both
MAJ Nno In feature of The Fletcher bill
troduoed il will carry a clause ex-
empt!ng from taxation the bonds OF
any Virginia district, county. town or
by, the locality ISSUING them. This
will mean that De awhile bonds viii
nay haGe &c, to pay Avn, no loeal tax in Richmond,
means wider markets. h @in, N in! !eFn'
menis; lower rate OF interest on
Vent this in an age where there is
much need for economy and little IN
clnaion?
Write Your Member.
II IL useless to conceal the fact
that the Byrd bill and its subsidiary
measures will meet with opposition.
Why there is opposition and whence
IT comes Will be duly explained to the
PUBLIC when !, appears. In the mean
time let citizens who are interested in
ia Nretorm write their members o: the
General Assembly. urging their sup
port OF the Byrd bill. Point out the
fundamental truth and T7omand an
answer: equalization means reduced
taxes for majority of tho citizens of
virginia ID. S. FREEMAN.