The Birmingham age-herald., 1924-01-20

day, January %, which will be at- tended from Birmingham by Mrs. Erie Pettus and Mrs. Angus Taylor, who are going over to assist the new. club in perfectiag it's organization: The new club will be the second organization to be an offspring of the Birmingham club, the spiAilid Axis club of Gads. den, with its 100 members, being the first =. .z.,Fs,.st lN Burden On Shippers
 Sfi"No thoughtful person longer doubts thats-irrespective ef hls income he pays the high surtaxes in the general high prlce leyel.. TOT example, the Balll- more ana Ono Railroad company has bonds maturing next year bearing 312 fper cent interest, the Chicago, Mil waukee anu St. Paul has maturing in the same year bearing t per cent in- terest. Both roa0s wiA have to refund on a 6 per cent basis. 1'he additional price of money must be paid, net by tue roads,, but by their shippers in freight rates. The farmer, who. alone must meet world competition in what he sells, in what he buys, pays the surtax.
 T ports that tenants are in no better DO. sition today than they were in 1920 and that rents. have risen enormously. In creased cost of building is not respon- sible. Again the tenant pays the sur tax. .t
 The public should clearly under stand what is involved in this effort to re-establish in this country sound basis of taxation. The question is not one of whether two or three million voters save in their direct payments Oi tax $15 apiece, but whether by the re, establishment of an economically sound basis the 110,000,O00 people in this country will save much more than $1j apiece in what they pay for the neces' sities of life. There is only one thing which must be insisted upon, the high surtax rates must be reduced to point where capital is freed from their kill ing effect upon new investments. To me the solution of this economic ques tion, Mir. Gamers plan is not even in tended to be directed. V
 Treated As Normal Rates
 ';The present rates of tax, .aggregat ing at n maximum of 5S per. cent, are treated as if they were the normal rates of tax. Any reduction from them, it Is argued, is q great concession to- the rich. This is not true. Before the war required the taking of every cent which could be obtained for the sup port of the government in it's emer tgeRcy, a surtax rate reaching Is pei cent at two million dollars was con sidered high. As a bit of~history, sub fstantially ns much revenue was realized | from incomes over $500 900 out of this Is per cent maximum in 1916 as was realized in 1921 from the same Hlass oi taxrayers out of the 65 per cent rates "These high surtax rates are wal taxes. and nothing but war taxes. Tn. war is over Srch taxation should cease. To pretend to chapge them ana no more. is to keep up the high wal living costs which everyone pays.
 I've come, then, to the fundamental
 differences between MT. Gamers plar l and the treasury bill: : his Is a make
 shift; the treasury plan is the result of experience and study. -@ His seek: popularity by offering a small direc
 saving to the most taxpayers; tht treasury lil is fair to all classes, ttl' is not intended to be effective on tht economic side of taxation the treas ury bilt is designed to free capital ant 1 to benefit not only the individuals ,wllt my taxes direct. but every person II the country who must pay these taxes
 in every purchase It is the differ
 once between political method o
 han''ir" tax reduction and busiaes; %method"