American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1918-03-15

1.-THE RICH MANS WAR
HATEFUL CALUMNY"
American Business Men Ready TO
Make Sacrifices With
out Stint.
TAXES HERE AND ABROAD.
American Taxation the Most Demo
cratic In the World.
HERE AND ABROAD.
BY OTTO \. KAHN.

10 gain ~ IffHfffiHh wv ''"
which existed during the two and a
half years prior 10 April, 1917, under
which many 81 them made "ery large
profits By furnishing supplies, provi-
sions and financial aid 10 the allied
nstlons Taxes we're light, and this
country was rapidly becoming the
great economic reservoir Of the world.
Nothing Is palmer than That any
sAne business man In this country must
have foreseen that. lf America entered
the war. these profits would be In
menseiy reduced ana some OF them
cut on entirely. because our govern
ment would step In and take charge:
that it would cut prices right and left
~. 10 fact. It has done; thai normol
burdens Of taxation would have 10 be
imposed. the bulk OF which would nat
unlly be borne By the weli-to-doi In
short. tina the unprecedented golden
now Into the Golfers of business was
bound 70 stop with our Joining the war
or. At any rate. 10 be much diminished
nut II Is said the big nnanciers OF
New York were afraid that the money
loaned by them 10 the allied nations
might be lost n these nations were de
feated. and therefore they Unanswered
20 got America into the war In order to
save heir Investments.
proof Tina, the Charge IL Absurd.
A moments reflection will n ow the
utter absurdity OF that charge. Let us
assume. for arguments sake. that the
allies had been defeated. Let MS make
h wildly improbable assumption hat
they had defauited for the time being
upon these foreign debts, the greater
part OF which. by the way. Ia secure !
by ne deposits Of collateral In the
shape OF American railroad bonds and
stocks and OF bonds OF aeutral coun
tries, aggregatlng more than sufficient
IN value to cover these debts. let u'
assume that the entire mount OF al
lied bonds placed In America had beer
held ~ rich men In New York and the
east instead Of being distributed as {
Il. throughout the country.
IA 4 not perfectly manifest that
single years American war taxation an
reduction OF profits would take out o
the pockets VI such assumed holders
vastly greater sum than n possible
loss they could have suffered b, a de
fault on their allied bonds not =
mention tho heavy taxation which
hound 20 follow the war for years q
come and the shrinkagc of fortune
through the decline 81 all America.
securities In consequence Of our en-
TRANCE Int the war;
Not only h. the "rlch mans war n
absurd myth. the charge IL a hatcn
calumny
business men. great or small. are u
different from other Americans, AN
We reject the thought that any Amer
cun. rich or poor. would De capable
the hideous and %dastardly plot
bring upon his country the sorrow
and suaerlngs OF wal Ia order 70 =
rich himself business men are boui
g. ne exceedingly heavy financial lose
through Americas entrance into q
war Every element OF self-intere
should have caused them TO use the
utmost efforts TO preserve America
neutrality. from which they drew
mu,n profit duriug. the two and a ha
years before April. 1917. Every co
sidsutou of personal advantage cor
maudrl mrn uf affairs 90 stand vii
ana sHppsrf thr citation ~ the "peac
~at.any-pucr .uy rhey sYuru'
uA &noble reasoning they reIect'
tlat animation; thry stood Tor "a.
wleu 90 was ua longer possible. Wi
safety aud honor. to maintain peae
tsuu~e a.ey are patriotic either
rrsf uad business men afterwards
Our Income Tax n Taxes Abroad
Ol The largest Incomes are tax
far more heavily here inan uuyVae
else in the world
The maximum rate of Income uA
tson here Is 81 per cent In Englar
II Is 42t5 per cent ours is thereto
% per cent higher than England's. a
the rate IA England is the highest ri
saiing anywhere in Lurope Aud
addition 10 the federal ta1 we ml
bear Ia mind our state and munich
taxes.
Cd Moderate and small incomes.
the other hand, are subject TO a
..N.r rsfa If fuxaflou here than