The Elk Mountain pilot., 1924-02-21

incometax payers it allows much heavier scaling of
the income tax of $4,000 multi-m onaires Mr. Mellon
that this discrimination in favor ct the man wncse
income is from $4,000 $000O00 is to lure
him from investing his money in taxexempt securities
Mr. William Rockefeller died while His death
revealed the that had $43O0OOOO in taxexempt
securities which, OF the government got not
single penny during his lifetime Would there have
been a grave wrong Mr. Rockefeller, during his
lifetime while he going taxfree on these S43o00000
the country had abolished taSsxenpt securities a
form investment? Mr. Mellon believes that the
exempt securities should be abolished but that the
on heavy incomes should be reduced.
On the latter point will naturally differ 1t
be admitted too that many of too willing
to adopt the simple principle of SOAK the rich That
principle of is grossly wrong but to define ex-
actly what is the principle is not easy Shall
pay in exact proportion to his income? Why
should he pay at that rate? He doesn't pay for his
and coal at that rate He for them at the
rate the poor Should he pay in proportion
the that the greater his income
the he exploits natural wealth? But if that
be the case, why shouldn't pay, not in proportion
to his income but after certain of surplus in
increasing rate, the ground that he is
necessarily and hurtfully exploiting natural wealth.
This is the principle of progressive taxatonhe princ
pie the Federal Income Tax. But there who
still farther and talk of the principle of equity of
sacrifice in taxation That of would destroy big
fortunes For the state to take fourth from
poor would hurt him very much To hurt rich
equally that is to make him feel the pinch of
rce keenly it might be necessary take away the
major portion his wealth. Some puzzled adopt
principle back the irrational principle
of Colbert the old French minister Colbert knew that
So he of the opinion that that form of taxation is
best which gets the feathers with the least squang
Just the very rich loudly squaking Should
there be easing up them? 1t has been pointed out
that if the relief of taxexempt securities denied
those $4,000 millionaires and they made to pay
taxes the rate, the soldiers claim might be
paid and the 100000 small income-tax payers still
get the proposed reduction of rate.
If that recommendation rests the principle, soak
the rich" it is have said On the other hand
if there is sufficient to believe that this small
class of very rich has been escaping its fair share
of taxation, then the matter of takes differ
aspect But however that is this fact should not be
lost sight Of The countys desire for tax reduction is
Justification for refusing the soldiers claim for
losses Suppose each soldier going into the had
left in Uncle Sans keeping $500 in cash. Would any,
body that Uncle Sam should be exonerated from
paying back because it happened not to be convenient
The private going into the army put Uncle Sam under
obligation. it is claimed certain amount in
of what the private received Now that claim is either
just unjust If it is just Uncle Sans convenience has
really nothing do with the matter beyond the point
reasonable delay He and he should pay However,
this country is not bankrupt. Uncle Sam only
his debts he has lent most generously to- Others And
this above all is mighty time for Off
cals to pirate about poverty and airtght APP