Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-03-17
PRESIDENT INTENDS
AGAIN To ATTEMPT
To REDUCE TAXES
BY DAVID LAWRENCE
(Leased Wire Service to The Journal.l
Copyright, 1929

(CopyrlSnt, 152o.)
FLAMINGO HOT E L, Miami
Beach, Fla, March 15.-At time
when the American people are max
ing out their income tax returns for
this year and paying the first quar-
terly installment there comes from
the presidential encourage the hint
that another effort to revise the tax
laws of America downward is as in
evitable as is the next presidential
campaign itself.
President Harding stands commit
ted to such course of action. He
is not satisfied with the present laws
and the only opportunity he will
have before the 1924 campaign to
suggest a program of change will be
in the December session of congress
this year Mr.. Hardings last COM
ment on the present revenue act
was expressed in an address to both
houses of congress in which he said;
"It would suggest insincerity II I
expressed complete accord with ev
cry expression recorded in your roll
calls, but we all are agreed about
the difficulties and the inevitable di-
Vergence of opinion in seeking the
reduction, amelioration and readjust-
ment of the burdens of taxation.
Later on, when other problems are
solved, shall make some recon-
mendations about renewed consid-
Grafton of our tax program"
May Take Case to People
Mr.. Harding goes before the peo-
pie next year.
Shall he put the whole question
of taxes up to the electorate and
make it the issue of his campaign.
formulating a program that can be
debated on the stump? The polit-
ical strategy of the occasion would
naturally be to revise the revenue
laws and stand on q record or
achievement, rather than of promise,
especially because the Republican
administration will be on the defen'
sive anyway and if new tax pro-
gram can be put through in the SEES
sion beginning in December, 1928.
and adjourning some time in 1924,
making the changes effective with
the calendar year 1925, the orators
will have something concrete to
boast about.
Men of the political sagacity Of At
torney General Daugherty, who is
President Harding's right hand man
when it comes to mapping out cam.
paigns, believe the issue in 1924 will
be taxes irrespective of what has
been done by that date to change the
existing laws.
The significant fact is that the
presidential plans contemplate some
expression on the subject of taxes.
Secretary Mellon, of the treasury
department has been waging cam
paign for the adoption of a consti-
tutional amendment abolishing the
tax exempt security. President Har-
ding Endorsed the proposal in his
address to congress in December,
1921, and there is little doubt that
the amendment will be actively be-
fore the state legislatures while the
1924 campaign is in progress.
All Favor Plan
1t is en- issue on which radicals
and conservative alike seem to have
combined in congress. The radicals
don't like the idea of seeing wealthy
folks escape taxation by investing in
state and municipal securities and
the conservatives feel that not only
is the government losing taxes to
which it is logically entitled, but
that, as Mr.. Harding himself ex
pressed it, the drift of wealth into
non-taxable securities is hindering
the flow of large capital to our in.
dustries, manufacturing agricultural
and carrying, until we are dis
coure ging the very activities which
make our wealth."
If by the time the election of 1924
is at hand, the proposed amendment
to the federal constitution has not
been ratified, Mr.. Harding will be
found vigorously campaigning for it
as one of the elements in his pro-
gram of reduced taxation because,
if the federal government can tax
the income of the many billions of
dollars invested in securities which