Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1913-04-24
INCOME TAX As
BALANCE WHEEL
Democrats Mean to Adjust Fis-
cal Policy by Raising or Low
ering 1t Annually.
MILL FILL HOLE IN REVENUES
Budget System Expected-Jus.
tice in Taxation and Rigid
Economy in Expendi-
lures Are Promised.


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the latter cam he raised or lowered Win.
IN Few days time without business dis
turbanc"s such rs general tariff changes
occasion 1t is believed that Il budget or
other effective system by which Congress
way be able closely to calculate ana de-
ternnc in advance forthcoming cNpan-
fhturoS Will soon be devised. in which
event ii should 'ecomc easy to maintain
close balance between expenditures and
revenues such rs Is practiccd in most
other civilized countries With other
sources OF revenue revised to an honest
and fixed basis, and the income tax
permanent part Of our revenue system
and at all times afording a substantial
anlStnt Of revenue. Congress could and if
necessary should, annually raise or lower
The income tax rates in such manner as
would prevent either a deficit or sur
plus in the treasury. This combined tax
system would afford Justice in taxation.
feasibility and stability of revenue and
rigid economy in expenditures"
The democrats outlining their policy in
the preparation of the bill announced an
absolute disregard for the costs of pro
duction theory as regulatory of tariff
rates and declared that in the pending
bill they had attempted:
ELIMINATE HOUSE MONOPOLY.
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profits. the continued policv of botbouse
growth Of our industries the stagnation
of development that follows where com
petition ceases, or on the other hand the
gradual and insistent reduction of our
tariff laws to basis where the American
manufacturer must meet honest competi-
ton. where he must develop his business
along The best and most economical lines.
where when he fights at home to control
his market, he is forging the way in the
development Of his business to extend his
trade in the markets of the world In
our Judgment the future growth of our
great Industries lies beyond the seas"
detailed table was presented show
Ing, by schedules, the total revenue
secured under the Payne law for 1912
and the estimated revenue Nndcr the new
bill for Il 12-month period. The table
showed that in 1912 $759 2o9,915 worth
Of imports paid S3O4 5o7 OBS in duties al
nm equivalent average ad valorem rate OF
4O12 per cent. 1t estimated that under
the new bill $1,000 99o,O 600 worth Of i'm
ports would pay S26G 7O1 900 in duties IA
an average ad valorcm rate of 29GO pei
cent. Thus the bill would raise S37 500,
600 less than the present law.
SUGGESTIVE OF GREATER SAVING.
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