The Leon reporter. (Leon, Iowa) 1887-1930, 1913-09-25
TO EQUALIZE THE COUNTRY'S
WEALTH.

TO EQUALIZE THE COUNTRY's
WEALTH.
The fellows who have made great
fortunes are throwing all sorts OF
spasms and fits whenever Sugges-
ton has been made that inordlnate
wealth should be severely taxed
Much simulated indignation has been
expressed over the fear that in order
to get rid of top-heavy fortunes some
process should be invented for dlVld-
fling up the big ones.
The masses, however, have recog-
nized that some expedient must be
found for preventing the expert, and
generally ruthless, money getters
from comprising by their merclless
methods the ultimate ownership OF
the earth. 1t has reached a point
where to be a millionaire entails
hardly an appreciate distinction
and the man with a hundred millions
is not stupendously wealthy. Opin-
ions differ as to whether a man can
ever really earn hundred millions
Conditions regulate the views OF
men on that point. He who has the
money may not agree with the man
who has it not.
But there is manifest tendency
nowadays toward the adoption or ex-
pedients in government and taxation
to hamper the acquisition of stupen-
dous fortunes. Heretofore the rich
man has been able to escape a large
proportion of his just taxes. The
time is coming when the conditions
will be reversed in that respect, and
the rich man will be expected to pay
a much greater proportion of the tax
es than the poor man.
There is an appreciate sentiment
nowadays for the use of the power to
tax to discourage, if not exactly pre-
vent, the accumulation of enormous
fortunes, and expedients toward that
end are receiving more favorable
consideration.
The income tax feature of the
pending tariff measure provides for
a tax of l per cent on incomes be-
tween $4,000 and $4,000, 2 per
cent on those between $4,000 and
100000, and 3 per cent on all over
the latter figure.
Senator Borah disclosed the
growth of this sort of sentiment by
proposing that the tax be made l per
cent on incomes between $4,000
ana $4,000, 2 per cent between
$4,000 and $4,000, 3 per cent be-
tween that point and $4,000, 4 per
cent on up to 100000 and S per
cent on all above the latter figure.
1t was probably because the expert
ment was new that congress deter
mined upon the lower limit.
The inheritance tax is recognized
as another means of cutting away
the top-heavy portions Of enormous
fortunes, and Senator Norris has pro-
posed a measure to tax all inherited
fortunes between $4,000 and $780,
900 above that figure up to $500, 900
at an additional one per cent, and all
legacies above $50,00O,O00 to the
amount of IS per cent.
Then comes along Senator Hitch
cock with proposal to incorporate
in the revenue measure provision
for graduating tax upon the great
corporations which follow trust
methods of defeating competition,
the purpose being to tax away the
ability to maintain a trust.
1t provides that no corporations
d UuolAOoo VI 1889 CAoA Wv,
100000 a year shall be subjected to
the exaction. Each one doing bust
ness above that sum, if it's produc-
ton or sales be from one-quarter to
one-third of the total amount of any
line of production, must pay per
cent tax upon it's net income. If it
controls between one-third and one
half of the entire production of any
line, it must pay 10 per cent of its
net income. If it controls one-half
or more of the total volume of bust
ness in it's line, it must pay 20 per
cent of it's net income.
Once started, these expedients
will in time take out of few hands
the surplusage of accumulated
wealth, and do much to equalize the
wealth of the nation among the peo-
pie One of the greatest evils that
menace the nation is the tremendous
growth of fortunes and the acquisi-
ton by few men of surprising gen.
JUS in money-making Of all of the
wealth and credit of the country
St. Joe Observer.