The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-12-10

WOULD NE lOL LA"o
Asks That Business and In
vestments be Relieved from
Enormous Taxation
Washington, Dec. 1O.-Presidcnt
specifically recommended
to Congress today a reduction of
more than $3OO,OOO,000 in the ma
tional tax bill and at the same time
presented views in opposition to a
soldiers bonus.
The Executive, in message
transmitting the annual budget,
said frankly that "any program of
new expenditure on a large scale
would make tax reduction impos-
sible for years to come" He add
ed that tax reduction "would GER
tainly tend to align the whole
people in support of economical ad-
ministration Of government" which
he declared is becoming "every
day more and more necessary"
II recommend revision of tax
laws" Mr.. Coolidge said, "along
lines which will effect a reduction
of income taxes by taxing earned
income more lightly than income
from business or from invest
ments; by reducing the percentages
Of the normal tax, and by reduc-
ing the surtax rates, with COM
mencement of their application at
$4,000 instead of $4,000. l also
recommend repeal of the tax on
kilograms, telephones, and leased
wires, and of the tax on admis-
sions, and revision of the miscel-
laneous taxes which are a source
of Inconvenience to taxpayers, and
difficult to collect. On the other
hand, amendments which would
cause some increase Of revenue
should also be made to existing
income tax laws relative to dedu-
ct;ons of capital losses; deductions
from gross income for interest
paid and nonbusiness losses sus-
tained, wherein income from tax
exempt securities is involved; and
the manner of taxing community
incomes. These changes would re-
duce taxes by more than $500, 0,00O,-
600, which is safely within the
probable surplus.
Would Assure Nation
81 know of nothing which will
give the people of this nation
greater assurance that we are un-
alterably committed to a campaign
of economy in public expenditure
than reduction of our present
taxation. 1t will take from the
realm Of debate plans which con-
template extravagant expenditures
or expansions of the business of
government beyond those neces-
sary to keep pace with q growing
nation and fixes the measure Of
our requirements an amount which
will represent what is actually
necessary to carry on efficiently
the proper business and functions
OF government and meet our fixed
debt charges payable out of cur
rent revenue. It would certainly
tend to align the whole people in
support of economical administra-
tion of government, and I frankly
state that such an alignment is
becoming every day more and
more necessary because Of the in
fluence which it will have upon
the states and the other lesser
subdivisions of our body polite.
"In stating that a reduction in
taxation carries with it an ob!iga-
ton not to embark upon an extra
ordinary expenditure program, /
am not unmindful Of the demand
for adjusted compensation for
soldiers of the World War, which
would include among it's benefic-
iaries the able-bodied of our vet
Grams as we'll as the disabled.
question if there is any sound
reason for such a measure. The
country is prosperous and remun-
erative employment is available for
the ableabOdied veterans as well
as for other citizens.
All for Disabled
"For the disabled veterans of
the war and the dependents of
those who fell the country can not
do too much. It has already spent
nearly two billions of dollars and
is, now spending nearly half a bill
lion dollars yearly in their behalf.
That obligation it must and will
continue to fulfill in fullest meas
ure. And it is one Of the most i'm
portant of the duties and privileg~
es of the Chief Executive to min
lister to the wants and needs of
these wards and creditors of the
nation.
"But the fit and able-bodied are
offered the opportunity open 20
every other citizen. The govern
gment has no money to distribute
to any class Of its citizens that
it does not take from the pockets
of the people and the payment of q
bonus to millions Of former sold
iers could only be accomplished
at cost to the whole community,
including the veterans themselves,
far, outweighing the benefits in
tended to be conferred. If I felt