Evening star., 1921-05-07
URGE TAX CHANGES
TO HELP BUILDING
Real Estate Boards Want
Congress to. Repeal
Two Measures.
FAVOR GROSS SALES LEVY
Profits and Excise Taxes Opposed.
More Loans De-
sired.
GROSS SALES LEVY

Believing that solution of the
housing problem lies in a revision of
| the revenue laws Of 1918. the execu-
tive committee of the National AS
ISOLATION Of Real Estate Boards at it's
| meeting in New Haven, Conn. last
week adopted resolutions urging upon
Congress the repeal of the excess
| profits tax and the excise taxes. eX
cepting those on tobacco and liquors;
elimination or reduction of the sur
| taxes on individual income taxes. anu
enactment of a gross sale or turn
| over tax at approximately l per cent
| to apply to all sales exceeding $4,000
/ annual turnover.
The formal action of the executive
| until the arrival of President Fred
| Taylor of the National association.
| with other officers of the organiZa-
| tion and members of the local dele
! cation Of realtors headed by H. l..
| Rust, president of the Washington
| Real Estate Board
| Would Boost Loans.
| The executive committee further
| decided to urge realtors and others
actively to foster and encourage
building and loan associations and
| kindred institutions by depositinS
! their idle funds with these organiZa-
| tions: to preach thrift and to assist
| clients of the institution in acquiring
| homes.
A resolution opposing legislation
! designed to better housing conditions
! also was adopted at the meeting.
| Mr.. Taylor explained the realtors
| view of the taxation question in an
4 II haF
! Estate Board Wednesday night. He
| expressed a solid faith in the ability
of the government to make necessary
| adjustments and to emerge from the
! gray days of dedation stronger than
ever.
Most Perplexing Problem.
! Mr.. Taylor said:
Perhaps the most perplexing prob
lem confronting the realtor and his
client at this particular time. and one
OF the most important matters now
before Congress, is that of federal tax
| alton. The income and excess profits
taxes. devised hastily to meet the
| heavy expenditures of the late war
have, in the past three years. not
only placed very heavy burden on
i our people, but have seriously retard
ed return to the normal business
life of our nation. The effect is so
| apparent that all are agreed that a
| CHdHSe IS eNpSQlenl.
| "One OF the first things discovered
in approaching this very important
question is that we raise a greater
percentage of our revenues from land
than does any other civilized country
| I'm our early history it was neces-
sary to tax Lands for most revenues.
/; as it was the only medium a6ailable
| There is nothing SO persistent as Gus.
! tom: and the nation has grown to be.
lieve the practice must be continued
The back to the land" and "own your
home" movements are all dependent
upon obtaining capital and credit.
! Big Shortage in Homes.
THE nation has a shortage, accord
| ing to the best authorities of ovel
| 1000, 5000 homes and it is estimated
! that there are 100000 idle farms. This
! unsatisfactory situation is certainly
| not due to ack or desire of people
to build, but because of the lack OF
money. which. until the tax laws di.
verted it by discrimination away from
mortgage loans. flowed in an abundant
stream to all legitimate building en-.
| terprises. Private initiative was able
! to cope with the situation every
| where. 1t stood all tests when lef
unfettered by law and regulated only
by competition. We are all convinced
of the wisdom Of the system that en-
courages investments in land.
| I'VE are still facing serious read.
| justments in trade and production
These are times that try the souls OF
| bankers, Of realtors. and responsible
citizens Of every calling and class. W.
have been calling for retrenchmen,
and normalcy. but are in danger OF
; putting on the brakes too suddenly
down a slippery hill. 1 have a solit
faith in the courage and fiexibility Of