The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1918-03-19
tine RICH MANS WAR
A 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.
TAXES HERE AND ABROAD.
BY OTTO Il. KAHN.


Nothing is palmer than that hust.
ness and business mel had everything
10 gain by preserving the conditions
which existed during the two and u
half years prior TO April, 1917. under
which many Of them made "ery large
profits bg furnishing supplies. proyi.
sions and financial aid 10 The allied
nations. Taxes were light, and This
country was rapidly becoming the
great economic reservoir cr the world.
Nothing is palmer than that any
sane business man in this country musl
hhye foresecn that, if America entered
the war, these profits would be in
piensety reduced and some of them
cut or entirely, because our goyer:i-
ment would step in and iaHr charge;
that Il would cut prizes right and left,
as, In fact, il has done; tlia enormous
burdens OF taxation would have 10 be
imposed, the bulk Of which would nat
urnlly be borne Ivy the weli-to-do; in
short, that the unprecedented golden
fow into the Golfers of business was
bound to stop with our joining The war,
or,.at any rate, to he much diminished.
But II is said the big iinanc!els OF
New York were afraid that the money.
loaned by them to the allied nations
might be lost If these nations " de
featcd, and therefore they uianeuvered
10 get America into the war in order TO
snve their Investments.
Proof That the Charge Is Absurd.
A moments rejection will 81 ow the
utter abSurcity Of that charge. Let us
assume, for arguments sake, that the
allies had been defeated. Let US make
the wildly Improbable assumption that
they had defuulicd for the tine being
upon these foreign dcDiS, the greater
part Of which, by the way, is secured
by ,he deposits Of collateral in the
shape OF American railroad bonds and
stocks and OF bonds OF Neutral coun-
tries, asgregatins more than sutficlen,
in value to cover these debts. Let US
assume tliat the entire amount Of al
lied bonds placed in America had been
held oy rich men IN New York and the
cast instead of being distributed. us It
is, throughout the country.
is II not perfectly manifest that a
single years American war taxation and
reduction OF profits would take out Of
the pockets of such assumed holders a
vastly greater sum than any possible
loss they could have suffered by de.
fault on their allied bonds not -
mention the heavy taxation which is
bound 10 follow the war for years 70
through the decline Of all American
securities in consequence OF our en-
trance into the war?
Not only is the "rlcl, mans war" an
absurd myth; the charge is hateful
caiulnny.
business men, great or small, are no
different from other Americans, and
We reject the thought that any Ameri-
can, rich or poor, would be capable OF
the hldeous and dastardly plot to
bring upon his country the SORROWS
and suffcrings Of war in order TO ell
rich himself. Business men are bound
TO be exceedingly heavy financial losers
through Americas entrance into the
war. Every element Of self-intcrest
should have caused them 10 use their
utmost efforts to preserve America S
neutrality, from which they drew SO
much profit during the two and Il half
years before April, 1917. Every con.
slderation OF personal advantage com
mnnded men of affairs to stand with
and support the agitation of the peace.
at.any-prlce" party. They spurned
such ignoble reasoning; they rejected
tha, afiilIation; they stood for war
when 1t was no longer possible. With
safety and honor, to maintain peace,
because they are patriotic citizens
first and business men afterwards.
Our income Tax and Taxes Abroad.
(l.) The largest incomes are taxed
fur more heavily here than anywhere
else In the world.
The maximum rate Of income taxa,
tor here Is 67 per cent. In England
ii Is 42h per cent. Ours Is therefore
80 per cent higher than Englands. and
The rate in England ls the highest pre-
vs..ing anywhere In Europe. And in
addition 20 the federal tax we must
hear In mind our state and municipal
taxes
e., Moderate and small incomes. on
the other hand, are subject to a far
- h.n h. IT,