Evening journal., 1921-11-09
PENALIZINc THRIFT.


rEyIERE is a truth well worth Deawareans remember
ing in the statement by the Kansas City Journal tha'
The theory OF taking away from man merely because
he has 10 away unsound and unjust from every
lpont Of view"
It is the duty Of the government to encourage enter
prise and thrift
Neither enterprise nor thrift be encouraged II the
man who utilities his time and efforts and savings feels
that the reward OF his efforts will be taken away from
him and no one will share his II his efforts prove
unsuccessful.
II is possible to take away man the property ne
has accumulated but It not possible to induce MIN 10
accumulate more in order that II also may be taken away
The statement above quoted from the Journal was part
Of an argument in behalf OF the repeal OF The excess
prons tax and the higher rates Of the income sur-tax
1t is admitted that "e man who enjoys large income
should and does pay heavily for his good fortune"
There is a difference between imposing tax which
man OF enterprise can pay without mparlng his ability
10 conduct and expand his business and Imposing tax
heavy make it profitable for him to dscon
nue enterprise and invest his capital in non-taxable
SECURITIES.
Excessive taxation is merely a practical application OF
the old legendary process Of killing the goose hat lays
the golden egg That process to be In favor today
with certain men In Congress.
The whole trouble with Russia today is that the Boil
shevlst regime adopted the policy OF taking away from
man merely because he had it to take away.
The Boshevists began by confscating the funds OF
bankers n seized the property Of all OF great wealth.
and after having spent distributed that wealth ac-
cording to their own whms and preudces they looked
about for other wealth connscae and fen upon the
farmers taking away from them even the seed they
needed for the next years planting
There could have been but result following that
pocy-He OF greatest organizing and executive abf
ity ceased their endeavors entirely.
Manufacturing and transportation were utterly de-
sroyed the agricultural producers soon responded to the
dscouraging policy and ceased TO more than was
necessary for the support OF their own families.
There no intention here to declare the prons
tax or the higher rates the present income surtaxes
Boshevsiic in character their tendency manfesty
much in the same direction the policies adopted By
Lenin and Troisky.
For many months past who have by their business
ability conducted large enterprises and accumulated saw
nes have been taking those savings out OF active indus
try and investing them in non-taxable securities.
This is help 10 the erection OF public buildings, the
Improvement OF highways and The paving OF streets but
American industry thrive upon public improve
lments.
Continuation OF public Improvements requires that
there shall be private industry in profitable operation
which will enable the operators to contribute regularly
TO The revenues OF the public treasury.
II the government TO have profitable industry from
which to draw for It's funds. It must maintain tax and
other laws which to their savings in
productive industry rather than investing them in mun
lcpa bonds.