The Hartford republican. (Hartford, Ky.) 18??-1926, 1921-02-04
. .,, ..aIff LAW To
NAiSE $4,000, 600
Fess Outlines Benefits Of
C. o. p. Protection
Plans.
Try Smell Smith,

washington. January-Declaring
eGhat the present Republican Congress
will save one billion dollars during
the present session, Representative
Simeon d Tess, of Ohio, chairman
oof the Republican Congressional Com
mitiee. throws light on what further
-sxpeditents may be resorted to in the
near future to ease the heavy burden
On the taxpayers.
HThe war;" he says "has left its
problems of finance. To care for the
interest on the public debt $1,000
~gOB, 900 will be required annually.
The care of the disabled soldier, the
dependents of the dead, and the in
-surance of the service man, including
the disqualification as well as the re-
ihabilitat on, reaches an enormous
sum of money. We are told by the
head of the Treasury that for some
years yet we must provide by taxa
ztion IN annual expenditure of at least
$4,000, 900, 200. This is almost six
times what it cost us in 1912 and full
1y four times the cost of 1917"
Billion Saved This Session.
Taxation is our most important
problem for immediate attention" he
goes on. "Our first duty is to cut
the cost OF government. This is the
II r.f NNra ~ q N o.
body We are now at that work and
we will cut the cost almost $1,000
400, 300 this Congress.
"OHr next problem is to insure
more busjnesslike and economic adj
zministration of affairs by the adop-
stion OF budget system. This will
-1H dome without undue delay.
%e have already taken the first
step % eliminate duplication by re-
organization of government depart
ments- Our next step is to revise
a1ar entire taxation system in the in
sferest of simplicity and equity. 1t
IT'S generally agreed that the excess
profits tax will be repealed as an &C.
l0nHnie necessity. Serious considera-
,%ion is being given to revision of the
Inc1ne tax in the higher ranges for
the same reason, and in order to
zyDin drawing income into investment
IN Bontaxables.
Two new taxes are now being
,ccnsIdered, viz: the sales tax and
EnSt npon the undistributed profits
OF corporations. A flat tax of from
rs ID 20 per cent on corporation in
GAMES is being discussed with some
Sow Holding Tariff Hearings.
',rke Ways and Means Committee
as n0w holding hearings on which to
base a revision of the tariff schedules
Ii Is thought that the customs duties,
which nnder the Underwood law now
amount to little over 00,00O,OOO
can be made TO produce from $780,
9G9, 300 to $75O,0OO,OOO through a
tariff measure based upon the pro-
fsetiye principle.
whatever the form our taxation
System will become, it can be SIM
zx4gia1 so as to ensure our citizens
agzi E5f uncertainties of assessments.
L. mast also be so drafted as to avoid
ps2nIixing business. 1t should as far
as possible stimulate enterprise and
EnzDsby invite investment of capital |
and the employment of labor, in the
A zx1ranre of the integrity of business
sEls-Prise, thereby inviting the en-
zzJszEment of existing business plants,
AZ vsN as the creation of new bust
mss With the governments early
SsEsHs 10 get out of business in order
10 give private enterprise a chance,
Nzih Its determination to revise the
2 KxAtion system on the most equita-
5sE and economic lines, and with the
ls-sSsS rance Of the reduction of govern
'rnsnf costs. we can now ask what of
La 5St1Ere of business?
The inevitable liquidation of war
sGsLitions through which the nation !
TaIn pass 10 q peace basis necessitates |
s0E1e suffering That is unavoidable. !
We are now in the midst of that
pn2eess. War levels must come
E3EaEn- Prices are too high. We |
'aaEs waited for two years. Finally
ths buying public struck. To-
-EEzser with the European situation,
sOois are left without buyers, bust
ness is slowing down, unemployment !
Is increasing, and prices must come
down, even though they fall below
css- This is the law and it cannot |
IN aFeIted Congress is beseiged to |
~ nriees or to enact palliative legis-
1aijag. all OF which is unwlse because |
.8Aeconnmie. We cannot pass laws |
ln reduce The price to the consumer
sud increase II to the producer. The
& -. "a Is fhaf tho nrodupar NJ Soma /