The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1921-10-28
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,.au,NorON, D. C.-Libsral -
~. IN alliance with the Deano
~. n,nority. won a distinct victor.
=. asaate when they. compsilsl
~ and the standpatters to C
~. ~, several amendments IN the A
' ~.;sn,stration tax program.
', ~. amendments proposed By thu
). -. -, group and finally accepted By
nDs''i ADMINISTRATION provide for re
10 :, the transportation tax BY Jan
=, ,. - repeal of many Of the bur
...soma nuisance taxes; restoration
thai the ,75,ooo,ooo capital stock tar;
1850. .au Of che income surtaxes from
:. - 20 per cent maximum; increased
s.s,,tance taxes to maximum Of
!. aI' nor cent; and increased taxes on
iidilIed spirits.
The tax bill, even as amended IS
=. sound and discriminates In favor
: the wealthy, but it is mu :h better
.s.n the original Fordney bill and the
...,sura which Senator Penrose's
committee reported. These bills made
~ repeal of the excess profits tax
,troactiye, reduced the income sur.
,,,es to 81 per cent maximum, re-
,.aled the capital stock tax, and re-
t,inted the burdensome tax upon
transportation.
The amended bill is expected to
,,,a the Senate with little change
,ud probably will. be agreed to by the
|House conferees. Penrose, Long
worth, Fordey, and other standpatters
to say nothing of President Harding
had their hearts set on retroactive
nueal Of the excess profits tax and
tilI greater reductions in the income
,urtaxes, but the longer the bill waits
The more protests. it causes and they
viii accept the changes for fear Of
having their program still further
amended.
The bill will please no one and prob
ably will have 70 be revised next year.
Pearose admitted as much and made
i yery sensible suggestion when he
ssid the whole tax question should
be Investigated by commission OF
nonpartisan experts. Taxation Is the
most important question before the
people and revenue laws should be.
drafted in conformity with economic
principles instead Of being dictated.
by political expediency or in return
for campaign contributions. Much Of
our industrial depression is caused by
faulty methods of taxation and we
need not expect permanent prosperity
until We adopt scientific system that
will raise revenue without disturbing
industry and penalizing production.
KENYON REFUSES JuDGEsHIP.
The Administration split the "agri-
cultural block on the Norris farm
s1pert bill by seducing the southern
with big loans from the War
finance Corporation to cotton export
'n' These loans were promised In
lsnn for: desertion of the bloc and
as records OF the, War Finance cor
pola1lon show that cotton exporters
we're favored as result.
ms week another effort was made
! usrupt the agricultural bloc" by
4alns over its leader. President
e.lolng offered to appoint Senator
Easayon to the Federal bench in Iowa
- great pressure was brought to
~ % induce him to accept. It was
4. s.l'ea out that he would have a life |
~ a. Tue same salary he is receiving |
]. ! senator, and it was also emphasize
',,. sua. he might have strong oppo-
ALTO Anu lof reelection next year. The
\ Illustration wanted Kenyon out I
: Ae way and the federal .judgeship |
Gss onered with no other end in /
h.~ sa oiielte, Laid, and other col
~ues OF Kenyon told him his place /
s,so. - 'ne senate and that he should
|..s 49, Sacn thinly cloaked bribe.
a y ,.s. Inc strong temptation to re-
Z has en the turmoil Of politics, to-
!. ssaas and permanent place on /
a,m,a ,a'n he finally rejected the
- !. onsr and the Agricultural
M =. sun intact and determined to
{ o,o ~ TIE hight for the adoption OF
NEE TOLLS BILL PASSED.
=, ;p1e the mos: solemn WARNINGS
|s.,a., Vas voting to violate the Hay. I
\ Ina n. Dc treaty, the Senate pass
u ee,. n0sah bill exemptinx Ameri.
ut ], s - shipping from the pay I
! Il i - snama canal tolls BY . voteis
I'd re., Inc House probably will
s,c.ed sa i, battle-ground over this
= hsst, discrimination. contrary Is
y porla ssreement to give ships 81
ma b - a. . to the canal on equal
= pr.sssa the bill probably win not
lnamsa until after the so-called