Daily capital journal. (Salem, Oregon) 1903-1919, 1917-09-01
EIGHTY PER CENT
CONTINUED from page one.)

great business concerns, - he SAID.
"What the great profit making cor
porations want is that we shall wait
until the war is over, they have slowed
away their swollen profits, until the
government can no longer touch them.
"How specious is he committee S plea
that by conscripting war profits up to
so per cent we d be injuring business!
We d allow every business in the cOun-
try every dollar of its peace profits,
but we d take the highest possible
amount of the profits made from dis
aster, from the sorrows, and sufferings
of world at war.
"When the committee first presented
its bill, we were told by its chairman
that $620,00O,O0O additional war profits
taxes it levied was the very limit of
safety.
Added Half Billion.
"Then a few days later the commit
tee added $500,000,000 to the war pro
fits taxes.
"They had gone the limit of safety
| to business before, remember, but now,
with great ease, they raise the limit
half billion dollars more.
"I congratulate the committee on its
conversion to the principle of wealth
conscription. This conversion came over
night and then endorsed our plan. We
who asked an increase III the taxes of
those who coin blood and sorrow, were
accustomed to halt and impede indus
try and production. But this new plan
of the finance committee, while it will
raise much more money from war prof.
| its, adopts the vicious method Of com
| putting these profits, which the house
, bill contained and which the committee
cssailed here when it presented its or
iginal plan.
"Now the committee deals not with
war profits but with profits generally.
We want war profits only. We'd protect
normal business, normal profits, nor
NAL industry. But we want to reach
the strong arm of the government out
to take war profits with the same en-
thusiasm we showed in throwing the
youth of the land into the melting pot
of war"
HOW 1t Fixes Tax
The committee bill fixes the amount
on taxable profits by providing that
not less than six per cent nor more than
j ten per cent on actual invested capital
shall be exempted. That is, if a concern
made before the war fifteen per cent
profit or any percentage above ten, it
would pay taxes on all but ten per cent
on the profits made since the war. If
it made less than six per cent before
the war it would be allowed at least a
six per cent exemption of profits made
since the war.
;. Senator Johnson's amendment would
average the profits of three pre-wa1
years, dating from 1914, as the normal
profit and any sum above that would
be counted war profits and be subject
ed to a flat tax of eighty per cent.
elf this war is made unpopular, the
finance committee s bill will have made
it So johnson continued. 1.-THE way
to make it a popular war is to make
the line behind the trenches, the line
here in America, contented, unified
!, line, where everyone rs sure no injustice
= has been done him or his neighbor.
Quotes German Press.
"Germany's newspapers and people
have said of us that we have not the
, courage to take huge war profits anj
that our corporations never will volun
teer them. They are saying it is dol
: lar war with us, and that our heart /;
not in it. Our great weapon is not oul
man power alone, but our man power
plus our money power. If we do wha-