The Barre daily times. (Barre, Vt.) 1897-1959, 1917-08-15
ASK 80 PER CENT
TAX ON PROFITS
La Toilette, Gore and Thorn
as Offer a New Propo-
sition
THEY FILE A
MINORITY REPORT
Would Put Greatest Share
of War Burden on
Wealth

Washington, Aug. ia mino 'ity re
port of the Senate finance committee OF
the war tax bill was presented to tn,
Senate yesterday by Senator LaFolette
with the concurrence of Senators Cor,
and Thomas, recommending that wal
profits and big incomes be utilized a.
the principal funds for the countrys wa.
needs and loans to its allies.
Contrary to expectations, Senator La.
Toilette did not present a substitute fol
the pending war tax bill. He announced
however, that unless the Senate adopted
amendments to be offered for raising OF
revenue needed for financing the war
through the next fiscal year and that the
onus of taxation has been placed upon
those least able to bear it," England
has taxed her war profits so per cent
without impairing her great industries
declared Senator IaFollette Instead,
wealthy classes "were never in receipt OF
larger incomes, nor were her larger bust
ness concerns ever more fourishing"
Proposed bond issues are called most un.
wise.
From the income tax and the war
profits tax" states the report, there
can be raised without subjecting the
country to serious financial strain, and
without depriving the wealthy even OF
the Injuries of life, more than double
the amount proposed in the pending bill.
If Congress were to adopt the British
rate of 80 per cent on war profits. Sen
ator LaFolette said, more than two and
a quarter billions of dollars would be
realized in a single year from this source.
Even 80 per cent would yield $500, $50,
600, according to estimates furnished by
the treasury department
In comparison with the average yearly
wage of 800 earned by the American
laboring man, Senator LaFollette pre-
sented statistics indicating that the per
centage of war profits over normal earn
ings of the DUPONT Powder company was
400 per cent, Bethlehem Steel 300 per
cent and the American Zinc, Lead &
Smelling company 1900 per cent Fig
ures were cited indicating that wages
have increased only Is per cent, while
the necessities of life have advanced s.
per cent
1T is monstrously unfair" said Sen
ator LaFollette, "to tax the every day
necessities of the average man or woman
to pay the expenses of the war in add |
ton to communicating their services and |
the lives of many of them and their chill |
dren, so long as the swollen and abnor |
NAL war profits are not taken-profts !
which the war has created and which viii |
disappear as soon as war ends. Every |
dollar of the above profits can be taken
and still the enormous peace profits of
these and other great corporations will
not be touched" In support of thu mi
nority contention that the majority esti
mates are grossly insufficient, Senator
LaFollette said the majority report pro-
vided for the raising of only $l,9a3,45S.
600, while the minority thinks at least
Sl3 ,000, 100000 will have to be raised.
Meantime general debate on the ma
iorty tax bill was nearing the final
stages, with prospects that it would end
before night. Then committee amend
ments will be taken up.