Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1922-01-13


per cent. In South Carolina, the lega
rate is seven per cent, but we allow
contract rate of seven per cent.
You say the notes and other evi
dences Of Indebtedness would not b
returned for taxation. But, suppos
again, that to this law there was at
ltached a proviso that no note that wa
not listed for taxation should be col
lectible in any court. Would this no
put them on the books? / do no
blame the owner or holder of a not
for not returning it now for taxation
because it would take the biggest par
of the interest to pay the taxes. This
leads to a question that Will be sub
mitted to the voters in November, to
wit. to allow the classification of prop
erty for taxation. At present the con
stitution does not permit this, but II II
is amended to allow classification Of
property for taxation, then notes and
mortgages may be taxed at less rate
than other property.
Another source of revenue is the IL
cense tax. In North Carolina with its
new law, every business Is taxed, from
the fakir who. pretends to tell your for
tune, to the railroad company. Law
yers, doctors, horse traders, real estate
agents, merchants and every business
imaginable almost pays a license tax
and the state is receivi. : most SUBJ
stantial revenue therefrom.
Two-thirds Of the state have an in
heritance tax. This tax simply means
that all estate Of fifty thousand dollars
and over Cor some fixed amount) shall
pay a tax to the state on the surplus
over and above the fixed amount. The
theory of taxation of this sort Is that
the money was made in the county and
state through opportunities and facih-
ties afforded by the state, and it is only
right and proper that the state should
participate in the form Of tax on the
surplus over and above q givenamount.
Governor Cooper proposed and urged
a tax on gasoline and oil consumption,
but the. general assembly disregarded
his recommendations The proposed
tax was that of one cent a gallon.
There Is hardly q car now made that
will not run twelve miles on gallon
of gasoline. Surely no man objects to
paying one cent extra tax as n toll for
use of good roads. As a matter OF fact
il is economical Good roads will ala
an automobilist in driving several miles
further on a gallon Of gasoline than ne
could possibly drive upon rough and
unworked roads. The Standard OIL
and other big oil companies raise and
lower gasoline from two to three cents
a gallon, and nothing Is said about 1t.
I doubt very much If it curtails the use
OF automobiles five minutes, as to
whether gasoline is twenty-three cents
or twenty four cents. Other states
have found this n considerable source
of revenue, and It has been designated
as the painless method" of raising
revenue.
Another source of revenue is the tax
on luxuries and amusements. AS stated
previously, the amount paid to the
United States government on docu-
mentary stamps, luxuries and amuse-
ments amounted to Approximately five
and one.half million dollars, or nearly
the entire sum raised by taxation for
state purposes.
D.. | am a firm believer in the income
tax. CAN it socialism, if you will, but l
think the taxes should be paid In pro-
portion to the ability of people or COR
poration TO pay Suppose salaried
man earns $4,000 year. We viii sup
pose he owns no real estate. He may
own a car on which he pays ten dol
lar license, and pay poll tax of one
dollar. If he has children, he sends
them to the public schools. He uses
his car over the public highways. The
courts afford protection to the business
that gives him employment, and he Is
getting every benefit Of roads, schools
and society, for the sum of eleven dol
lars per year. Suppose, on the other
hand, that Mrs. Smith owns planta-
ton worth fifty thousand dollars, that
gives her an income of five thousand
dollars. Her taxes at eighty mills, on
a, forty-two per cent basis will be six
teen hundred and siXty-nine dollars. is
there any reason why she should pay
sixteen hundred and sixty-nine dollars
more tax with the same income, than
the one who draws @ salary instead OF
owning property. l am not going into
argument on any Of these sources OF
revenue: but am merely touching
them. Other states have derived near
ly one-half of their taxes from the
sources mentioned above, that is, in
tangible property. If these tax rates
are put into effect in South Carolina
and this intangible source of revenue
brought in, the tax burden will be ma
terially decreased.
South Carolina undoubtedly has an
outlaw tax system. Profess sor Charles
]. Bullock, Of Harvard University, than
whom no student. of taxation ranks
higher saws: