Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-21
MONDAY. FEBRUARY 81. 1921.
Still Without Il Tax Policy

| rs apparent TO all observers of national
1 legislation that Congress is still without
n program for dealing with the question OF
taxation. Some general ideas may be TAX
ing form in the minds of responsible leaders
but upon specific questions the House and
Senate are rs much at sea as when those
bodies rcconvened early in December The
American people must therefore, remain in
suspense until such time as conflicting views
and divergent interests can he compromised
or ha-monizcd.
Up TO this time the testimony before the
congressional committees which have been
holding hearings almost continuously for
the past ten weeks has been devoted more
largely TO objections to the character OF
existing laws and to declarations of "A vital
and obvious need for a taxation overhauling
than TO actual proposals for constructive
measures which might be applied rs sub
stitnte for prevailing evils
Nor is this wholly unusual or unexpect-
ed In the first place. Congress has not
passed the appropriation bills, the most
pressing legislation before ill., Moreover,
until Mr.. Harding is in the White. House
and his Secretary of the Treasury is in Of
flee. their views will not have been formally
revealed to the legislators, and it will he
very necessary for the new administration
unfalteringly behind il, If Mr.. Harding is
to compose the differences which exist ON
the part OF his party followers in Congress
Meanwhile, however. it seems reasonably
certain that the Rcpuhfican tax program will
dea! VIII the proposed repeal Of the excess
profits tax; with short-tcrm war securities
10 be replaced by long-ierm obligations with
view OF relieving present Tax burdens to
some extent; with proposals for general
safes TAX or monthly turnover tax now be-
NE urged by certain influential business or
CARNATIONS, and the plan FOR an increase
IL the normal corporation tax rates and a
graduated tax Of some sort on the nndis-
tributed earnings OF corporations
~ II Is discovered that these are the reu-
eral proposals TO which Republican leaders
are giving the greatest attention and
thought, and If the time ever comes when
taxation policy is evolved il probably will
follow the lines just Indicated assuming
OF course. that the Harding administration
SHOWS a Willingness TO so along with Con
grcss in these directions
Most Republican leaders are eager to
raise the tariff the fun limit. while they
are WORKING out tax program hut many
OF them have been shocked 10 find ordin-
arily protected interests swinging away
from the idea OF q system Of high protective
duties mat may react dangerously against
American foreign trade This reluctance
on the part of these interests to accept
tariff favors at the hands OF Congress has
thrown most protectonists in Congress into
confusion.
Perhaps, after all, i, is better for Con
gross TO go slowly with the question OF
taxes There has been a natural and wide
spread Impotence on the par, OF the coun-
try for tax revision ana for relief from
some of the more burdcnsome schedules
and both political parties are pledged to
B such relief. But the nation has already had
SAD experience with tax bills hurricdly writ
ten, and il has no taste for more legislation
of the same general character