The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1917-08-14
war PROFIT and
INCOME TAXES.
RECON- MENDED.
BY THE MINORITY.
LaFollette Cites England s
Heavy Tax on Big
Industries
WOULD TIGHTEN
LABORERS' BURDEN
United States Must Assist
in Financing Other AL
lied Countries

Washington, Aug. IA Minority
mtttee Of the war tax bill was pres
ented to the senate today by Sena-
tor La Toilette with the concurrence
of Senator Gore and Thomas recon-
mending that war profits and big
incomes be utilized as the principal
sources in taxation in providing
funds for the country's war needs.
Contrary to expectations Senator
La Toilette did not present a sub
stitute for the pending war tax bill.
He announced, however, that unless
the senate adopted amendments to
be offered by himself and his as
sociates a substitute would be Of
fered.
The minority report charges that
the bill as revised by the majority
makes inadequate provision for
raising Of revenue needed for fin
ancing the war through the next
fiscal year and that the. onus of
taxation has been placed on those
least able to bear it.
England Taxes Wealthy.
England has taxed her war pro-
fits eighty per cent without i'm
pairing her great industries, declar-
ed Senator La Toilette. Instead her
wealthy classes were never in re-
ceipt of larger incomes nor were
larger business concerns more -four
ishing. Heavy taxes he said could
be levied on American corporations
without any fear Of affecting capt.
tai or Gripping industry.
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 the luxuries of life, more than
double the amount proposed in the
pending bill.
If congress were to adopt the Brit
profits, Senator La Toilette said,
more than $2,25O, 100000 would be
realized in a single year, from this
source.
Great Obligation.
Nothing that this country or any
country has ever previously under
taken in the way of war financing"
he declared, compares with the OBJ
legation we are assuming" 1--WE
have not merely to finance one
country. We must to a large extent
finance at least five or six other
In comparison with the average
yearly wage Of 500 earned by the
average laboring man, Senator La
Toilette presented statistics indicat-
ing that the percentage of war;
profits over normal earnings of the
Dunpont Powder company was 1,400
per cent. Bethlehem Steel Co, 1900
per cent. Armour & Co., $50 per cent
and American Hide and Leather, $50
per cent.
In urging that the income tax
scale be increased to tighten the
burden borne by the laboring
classes figures were cited indicat-
ing that wages have increased only
Is per cent while the necessaries Of
life have advanced IS per cent. In
support OF the minority contention
that the majority estimates are
grossly insufficient to carry the gov
eminent through the next fiscal year,
Senator La Toilette decla9ed the es-
expenditures would prob
ably exceed the estimated receipts
by $8,402 10000 without taking into
the additional billions |
probably to be furnished the allies. |
The majority report provided for the |
raising of only $1,943,45S,O 900. Con-
sidering the loans that probably will |
be requested by the allies the Amer |
lean people will be called upon dur |
ing the fiscal year to raise at least |
5000 100000, he declared.
The minority members object to !
The proposed bond issues of billions |
If dollars contending that this bur- J
len will become most severe at the |
End of the war. when capital will |
be needed in the work in both Amer
ca and Europe.