Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-12-10
HousToN's TAX SUGGESTIONS

CECRETARY HOUSTON is right when he
~ says that the present rlrtaX"S nav"
passed the point of maximum productivity
and are rapidly driving the weather. tax
payers to transfer their investments into the
billions Of tax free securities and depriving
productive industry of necessary capital.
Critics of the present tax laws. regardless
Of political affiliations, have been saying
this for many months.
The secrctary's rec mmendation for the
repeal Of the excess profits tax is in line
with the best economic thought at the pres
ent time. But the annual report in which
he outlines a taxation program will not b"
seriously considered by Congress. Mr..
Houston is a Democrat. II" rctircS from
office on March (, when he will be sue
cccded by n Republican. The Sixty sixth
Congress. which has less than thrc" months
more Of life. is not planning to draft any
tax bills SO far, then, as any practical
effect on legislation is concerned the s"crc-
tary might as we'll have made no recon-
mcndationS.
His report. however. is a roitical doCu-
mcnt putting on record the Democratic pro
gram for taxation revision. II the revision
which the RpDublicanS make docs not pro-
ducp satisfactory results the country will be-
reminded in the congressional elections Of
1872 that the Democratic secretary Of the
treasury had proposed remedies, and the
assertion will b" made that those remedies
,,bIicnry or,riod Tbi. 10 ,Lo ,,,y ,Lo
game Of politics is played.
,,ublinor, - Il roi.o ,Lo ,,oos,,,,. n,,,.,,,,
If ,io,. ,ro No., ,,,,,. ir, t,,,i,, -, ! Nv,
the national expenditures. Before the war
the annual budget amounted to about
81 900 0OO. 900. Tho interest on the war
L,bt !. q OuO 600 0OO n ,nor Va, Soo."
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,n roi,o II non GnO nnn = ,,,o. 81 @
f,,rr yoors II tb,, ,,r,,+ i't
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man, IN 1oo1 a. +, Iii l.; iui, " 7''''"
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,h;oot =, q non oo,, iI,,'i n"1, NY ,N wiz
,ln rros,,'r an i.rno :" t''C 80 raSc Eo
v, E I' S,n 0on .n w. a. 80. o'''. o'lNe'n %"ooo
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ttt, ,'[ I, "'I t,' On u"t"no-
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~ ,"N VI ~ ,' "tt GO o'l'o'"'loh pF"ntS
''',, "'' va" " per cent on cor
n,,o ",,n nn,, T|u'u G'TI" more
a''"'' %"'''" " "".'y 10 q"
,,'''" 't',I'" ,I ~ "'''" "' h"r'h 10
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.I,'"'''"h r r'D'" "' ''t'H one Knows
aI,i' o''"I ,'M,', I,"1a ] i' t"H III 'Ie "InI
"'"'1|'r' wv l'"'o u '''' !" t"t TAX
.,.i,,ns i, ,,,, a" 'HH''',hI H' w. mus n
a%''"' , ~ NV o,n %"3 >, ,i,L ~, n' '11 OF ~
.,,,,ossty s ,,,nt IL No. roiYod - Gn ' n'"uStoh