Watauga Democrat. [volume] (Boone, Watauga County, N.C.) 1888-current, 1921-10-13
BOONE, COUNTY, N. c. OCTOBER 49,
SUBSTITUTE PLANS OFFERED
Senator Simmons Says Transportation
Taxes Ought To Be Taken OF To
Insure Return To Normally

Washington.-Two separate tax pro
grams as substitutes for most Of the
levy provisions in the pending revenue
division bill were presented in the
senate one from the Republican side
and one from the Democratic side, re-
Gently.
Senator Smooth of Utah proposed:
l. "A manufacturers sales tax OF 3
per cent on articles as finally finished
or produced for consumption or use.
2. Repeal or all of the special war
taxes, Of whatever nature, including
the excess profits and transportation
levies.
3. Retention of the existinA 10 per
cent income tax on corporations.
Senator Smoot proposed no change
in the committee plan with regard to
individual income taxes, or the exist
ing tobacco, liquor and inheritance
taxes.
Senator Simmons Of North Carolina
proposed:
/. A graduated income tax on corpo-
rations, ranging from II 1/2 to rs per
cent in lieu of the excess profits tax.
2. Restoration of the income surtax
rates to a maximum of So per cent
on incomes in excess of $500,OO0.
3. Repeal of the transportation tax
es on freight. passenger and Pullman
accommodations.
4. Retention of the corporation cap
ital stock tax.
Repeal of the $4,000 exemption al
lowed corporations.
S. That individual exemptions be
confined to incomes below $4,000.
6. Slight reductions in the normal
rates on incomes below $4,000.
Senator Simmons told the senate
that if there could be an agreement
for an equitable readjustment of the
taxes so that the several groups of
taxpayers would be on a parity as pro-
posed in the Democratic program, he
personally would he willing to give Sc
rious consideration TO manufacturers
sale or consumption tax, properly safe
guarded. as a substitute for all of the
miscellaneous taxes imposed under
the present law.
Senator Simmons offered the Demo-
cratic tax program to the senate at the
conclusion of three hours address,
In which he vigorously assailed the SEN
ate finance committee bill as one pro-
viding for tax reduction lin behalf OF
the corporations and the ultra rich"
Taking the bill from the beginning
to the end of it." he said, there is
hardly a tax that is touched where the
little man is not forgotten and ignored
and his rights trampled upon while
the rich mans slightest whispers for
relief are heard and the money Of the
people lavishly rebated and remitted
to these men who have crown so
mighty in this country that They u4A iix
the prices of my products when it is
one of their raw materials and then
fix the price | shall pay for the finished
product after they have manipulated
it,
Assailing the committee proposal to
retain the taxes on ffeight. passenger
and Pullman at half the present rates
Senator Simmons said if there was
any tax that ought to be taken off in
the interest of business so that we
may have a speedy return to normally
in this country, it is this tax"
Senator McCumbcr of North Dakota
(ranking Republican on the finance
committee). in replying, declared the
North Carolina senator had not offer
ed one word of constructive thought.
81 can't help but contrast the elf
ference" he declared, between the
support given now by the senator from
North Carolina and his adherents ant