Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-05-04
Wealth to Do It's Part

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Wealth to DO Its Part
THERE appears in another column OF this
page letter signed american" which
probably reflects the views of a large element
Of this people. When the writer says, how
ever. that American newspapers remain
strangely silent in regard 10 the proposed
draft of dollars" he certainly cannot refer
10 this newspaper, or if he does cannot have
followed its editorial discussions OF this sub
ject.
From the first. The Times Dispatch has
stood for pay-as-you-go war. 1t is obvious
that great conflict such as this cannot be
financed entirely by taxation. and no respon-
sible statesman. publicist organization, not
even the American Committee on War
Finance. which correspondent mentions
ever has Ventured to suggest such course.
NO country now at war has essayed plan SO
certain to end in failure and disaster 1t is
just, furthermore, that war waged largely
for the benefit and the freedom OF posterity
as I'm this war. should be paid for in part
by posterty.
But there should be heavy taxes now and
our Fredericksburg friend may be certain
that there will be. That such taxes must
be imposed has been, and will continue TO be-
the position and the insistence OF The Times
Dispatch. On April 4. two days after the
Presidents memorable speech to the Con-
gress. this newspaper said:
President Wilson is right in insisting
WAR WAR ' BOND sha sues be &
he. and large bond issues. but a wise
nan nssi,, polly dictates tat that so far as
Utilities.
the problem of war revenues amplifying the
earlier argument. concluded as follows:
In Justice. there must be an equallza:
ton OF the burden and this can only be
posts on luNuries, certain of the
s%d on eNsess pra as on we'll ss IS@
erng of the incomes already exempted.
spite the influences OF reaction and in
e If ime war eontnnes on is nda.
trial conscription will follow Uness
money also is enfo orl 3nere VIII be-
no equalization of the burden.
1t is fair to say that our correspondent Is
mistaken in his opinion of the attitude Of
the American press generally as he is in his
opinion of the attitude of The Times Dispatch.
No newspaper, it is believed. has attempted
to deny the justice of the plan to make wealth
bear the financial burden OF war. Certain
extreme proposals, such that involving the
total confscaton Of all incomes above $780,
600, have hecn attacked economically UNI
wise, but there criticism has ended
The revenue bill, now pending in the
House Committee on Ways and Means, levcs
heavy super-ta1es on all large incomes. While
1t does not go far the British income
tax, 1t makes tremendous additions to the old
rates. 1t also makes larger exemptions.
The British tax applies to incomes of $3.50,
while the revenue bill would exempt incomes
OF $ 900 for single mon and OF $4,000 for
married men On all incomes in excess of
tho exemption the normal tax of per cent
is to he imposed. which III the case OF mar
ried man means SEQ on $4,000 income but
as the taxable income increases the rate rises
nj, p IA
a year; incomes of $4,000 will pay S1340
year; those of 100000 will pay tax of
$3.50; those OF 100000 will pay s1l.94O;
! those OF 81 900 900, S319,106, and those OF
| $l,500.000, $529lO6
Wealth will not escape, its share Of the
war cost. nor--to the eternal credit OF men
of wealth bc 1t said-s wealth cndcavoring
| to escape. II, too. is being conscriptcd and
In quite as large proportion as it is planned
10 conscript men for military service Only
| the extremist wants to go further at this
| time. The folly which would confscatc all
large incomes would prevent industrial ex-
| pansion, cause commercial prostration throw
hundreds Of thousands out OF employment
| and thus deal the country a blow heavier
! than that dealt by war. 1t would srangle
| tho innumerable charitable agencies on which
| heavier than usual demands arc being made
| The time may come In this when wealth
| must he required to make larger sacrifices
| IMAM are now contemplated hut that time is
not yet. When the nation takes from one
| fifteenth to one-third of a mans income rs
| is now planned In tho case OF all very con
| siderable fortunes, while all small incomes
/ are exempt and moderate incomes are charged
| from TO per cent. 1t cannot truthfully he
| said that the poor will "be made to pay in
| the same proportion the rich
Germany has apologized for sinking an
| Argentine ship. Perhaps Argentina will per
, NIT America to tell her that such apologies.
in course OF time. become exceedingly weari-
| some
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That's what Miss Rankin gets for being
| I'm Congress- if she hadn't been lawmaker
Mr.. Nviani might have kissed her cheek in
stead OF her hand.
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