Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-02-21
Country Favors Income Tax.
Albuquerque, N. NJ,
February 16, 1921.

albuquerque, N. NJ,
February 16, 1921.
Editor Morning Journal;
Dear Sir.-You will note from
the enclosed statement that a spe-
cial committee of the National
Economic league has undertaken
TO draft list of the most imper-
tant questions for present con-
aideration, concerning federal tax
alton, and to secure, through a
vote of the national council of the
league, consensus of the informed
and disinterested opinion of the
country regarding these questions:
l feel sure that you win be glad
to publish this statement for the
benefit of your readers, and to as
sist in directing attention to this
most important subject.
Very truly yours,
(Signed) ....
FREDERICK b. HOWDEN.
Federal Taxation.
That the sentiment of this coun-
try is overwhelmingly in favor of
the income tax as one of the prin-
cipal sources of federal revenue is
lstukingly indicated by recent
vote of the national council of the
National Economic league The
| vote was on a series of questions
covering the most important tax
alton problems of the United
| States.
In the council of the league,
which is composed of leading men
from all parts of the country, are
such men as ex-President Taft,
! President-e Harding, Governor
James M. Cox Of Ohio, Charles w.
Eliot, former president of Harvard,
and Nicholas Murray Butler, pres
ident of Columbia university.
The first question presented:
Should the income tax be retained
as one of the principal sources Of
! federal revenue?" was answered
aftirmatively by 30 per cent of the
| $50 members who took part in the
/ voting. About one-half of the
members expressed themselves in
favor of retaining the present min
| ina of taxable income, while
| of those voting in the negative,
! two thirds are recorded as in favor
| OF lowering the minima. A sub
stantial majority expressed them
| selves as opposed to present rates
| of surtaX upon incomes in excess
of $4,000, all but 10 per cent being
in favor of diminishing the rate.
! About 70 pei cent are recorded as
! in favor of retaining the federal
! estate, commonly called inheritance
/ tax. About rs per cent are of the
opinion that the excess profits tax
should be abolished.
The proposal for levylng a direct
| tax by the United States upon the
site value of land i, e., the portion
! of the value of land due to the
presence and activities of the COM
! munity and to natural advantages,
mineral deposits, harbor frontages
! and the like was favored by 162
and opposed by 317 of those vot-
! ing. Nearly all of those who Ia
vored this form of taxation, are
recorded affhmatively in answer to
a supplementary question:: IF
your answer is yes to the preced-
| ing question, should the federal
| constitution he amended so that
| such tax could be levied at a uni
form rate throughout the United
/ States instead of being apportioned
among the states in proportion to
| population as, at present required.
With respect to a tax on imports,
a majority (260) voted in favor of.
tariff for the protection of home
industries, 1855 favored a tariff for
revenue only, while "a are record
ed as being in favor of free trade,
that is, no tariff whatever.
OF the three remaining ques-
tons, the first is as follows:
i Should congress undertake a. sur
| vey of the ultimate effect of vari-
rious taxes TO determine (a) what
taxes involve administrative ex-
penses disproportionate to the rev.
enue collected? CD what taxes, II
any, directly or indirectly increase
the cost of living by an amount
, materially in excess of the revenue
collected? (c) What taxes, if any,
could be levied that would directly
or indirectly reduce the cost of
= living?" This proposal is favored
by a vote of AL to 81. The second:
us it advisable for the United
! States to pay off its bonded in
, debtedness as rapidly as the bonds
, mature?" was favored by 206 and
u opposed by 242. The last, SHOULD
f the federal power of taxation be
/ used as an indirect means of inn
= posing regulations in behalf of the
} public health, morals or safety
, which congress would have nc
s power to impose directly 2" was
answered in the, affirmative by
15J and in the negative by 900.