The Birmingham age-herald., 1920-12-20

In sending out the proposals, the cham. ber's board of directors made it clear that the board itself neither approved nor dissented from the report. The sole purpose of the referendum, it was ex- plained, was to obtain the opinion of the countrys business organizations. The propositions upon which the cham bers' members were asked to express their views are
 Should the excess profits tax be repealed?
 Revenues now derived from the ex- cess profits tax should be obtained from taxes on incomes.
 There should also be excise taxes upon some articles of wide use but of first necessity.
 Should q sales tax be levied instead of the taxes mentioned in the second and third proposals?
 Should a sales tax be levied in ad- dition to such taxes as are mentioned in the second and third proposals?
 Members voting in favor of proposal or proposal are asked to indicate the type of sales tax they advocate; whether & general turnover tax, a limited turnover tax or a retail sales tax!
 IHtTe SuOulu O6 fBOuCIdle dhQ graduated undisturoed earning tax on corporations.
 Each individual stockholder of a corporation should pay his own nor nal tax
 Incomes from any new issues of se- curities which may lawfully be made subject to federal tax should be tax able.
 American citizens resident abroad
 +L,0 tax upon income derived abrcad and not remitted to the United States.
 Profits arising from sale of capital assets should be allocated over the period in which earned and taxed at the rates for the several years in the period.
 An exchange of property of like or similar nature should be consid- cred merely as replacement
 Net losses and inventory losses in any taxable year should cause re- determination of taxes on income of the preceding year.
 Ascertainment by the government Of any tax based on income should pre-
 cede payment.
 Administration of income taxation should be decentralized. The committees own judgment witf regard to a sales tax was declared te De lUpTdCllt@ADtc REMAIN HIGH 4 The committee said that, in it's opin- 1 ion the governments expenses would re | main high for some time, and 1t ex plained that the revision it proposed wa: not aimed at reducing the amount O yield but in changing the manner O ! lowing important taxes. | "Franl; recognition of the situation, the committee said brings realization that the country must continue for sev' eral years to bear heavy burden oi taxation"
 Strict economy by the government ano the people was urged The government said the committee, must use the pro ceeds of taxes only for essential pur' poses reducing the billions of floating debt and abolshing annual deficits 1T the treasury.
 This is no time, the report declared "for diversion of the receipts from heavy taxes. gladly assumed in patriotic sup port of war. to new undertakings U doubtful public benefit" The committee, in putting forth lt' recommendations, went into each propo sition in some detail. Iro. the benefit oi consultations asked to consider the re port the referendum pamphlet accom- panying the ballot cited at length mega five arguments on each proposal ad' vanced so that those voting could study for and agalnat each proposition