The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1913-10-17

Kentucky provides that "Taxes shall
be uniform on all kinds of property"
and on the surface this seems to be
so fair the average thinker can find
no fault with it.
In practice, however, it has been
found to be the most unequal tax sys-
tenn ever devised, end most of the pro-
gressive states have abolished the
plan.
It's inequalities and unfairness may
be seen from the way it discrfminates
in certain classes of property and ex-
plains why Kentucky seems to have
so little intangible wealth as COM
pared with other states.
For instance, cash in savings banks
draws only three per cent interest,
gilt-edge bonds pay four per cent, real
estate notes six per cent, stock in
some foreign corporations ten per cent,
while the tax on all is the same for
state purposes, but varies for county
and city purposes according to the To-
cation.
Thus where the income is only 3
per cent and the taxes 212 per cent
it leaves the owner only II per cent
interest, and where the income is 10
per cent and the taxes 21s per cent
the interest is 71a per cent. In this
uniform?
In some counties land is assessed
at 80 per cent of its value, in others so
per cent, and in others 70 per cent.
The state tax is the same in all the
counties. Is this uniform?
If an honest farmer lists his prop
erty at its fair value and bis un-
scrupulous neighbor puts lower value
on his property the former pays more
than his share, while the latter pays
less.
If the state board of equalization
raises the entire list for that county,
the honest man pays on property he
doesn't own, and yet our law is sup
posed to be uniform.
That the personally owned by citi-
zens of Kentucky is vastly more than
is listed for taxation is a well-estab-
lished fact; but the tax receipts don't
show it, In fact, certain classes of
property, such as stocks, bonds, notes
and cash have almost disappeared from
| Wild nj
wealth apparently grow less each year
If the present system is allowed tc
remain in force, it will result, as it has
in other states, in almost all kinds OF
personally disappearing from the as
SCISSORS books, and lands and houses
which can not be hid or moved will
have to bear the chief burden.
1t has been so in every state where
the general property tax has been
the plan on which property was taxed
and most Of the states have been wise
enough to get rid of such an unequal
and unfair system.
The Ohio state tax commission, in
it's 1908 report on the operation of the
general property tax" says:
cit is a failure for purposes of rev
enue or equality. Perhaps not pei
cent of intangible property is listed
1t Furnishes the honest. 1t rewards the
dishonest. 1t frequently results in
ard of integrity"
The entire revenue CT the state Of
Kentucky is about $7,000,000, while
Michigan, with about the same area
and population, receives $14,000,00(
from taxes, only small proportion o.
which is paid on land.
In Pennsylvania there is no state
tax on farms or homes.
There are 100000 acres of unim
proved farm lands in Kentucky an(
yet vast quantities of farm products
have to be imported.
There are about twenty-five thou
sand square miles of coal lands il
tons of coal from Pennsylvania, Yves
Virginia, Indiana and Tennessee.
Kentucky raises thirty-eight pc
cent of the tobacco crop of the United
States and manufactures only thre,
per cent of it,
These are significant facts and ou
people should consider them.
There may be other causes for ou
. lack Of progress but it is an estab
lished fact that no state has eve
prospered under the general propert.
tax and it is also known that this de
plorable system of taxation has Away
: driven out capital, retarded develop
> ment and caused untold losses in POP
T ulatiOn
> The last general assembly passe,
3 an act amending the state constitu
3 ton so as to permit future Legislation
3 on taxation which will go far toward
z remedying the evils and it is the dut
r. of every citizen in the state to vot
for the amendment at the Novembe
election. If it is not ratified at tina
time it will be impossible to. vote o.
| the question for another five year
| and it has been DELAYED too long a