New Britain herald., 1925-09-17

official spokesman" for either ma ior party has suggested that taxes remain high or that they should go higher, The consensus of opinion" seems unanimous that taxes should be reduced constantly From this one can conclude that something may be done about it; and no mat ter what Is done and how assIdu- ously the congressional Democrats aid in the accomplishment, the c. o, r, Is going 10 get the credit. That Is one little advantage of be- ing the party in power,
 It is said Of Secretary Mellon that he favors a plan that will re- tire the national debt in 25 years. At the same { m e. the Pride of Pittsburgh favors considerably less taxation all along the line. To re- tire the national debt in 2jsyears would require more tax money than a retirement in, say, 50 years. Senator Swanson of Virginia, who of course is a Democrat, naturally has seized upon this phase of the Mellon plan as not offering suni- cient possibilities for "real tax re- duction." The Virginia senator favors a more lengthy period for | paying off the national debt It may be pointed out that the European debt refunding settlements are be- ing made upon a basis of 62 years, and if our national debt Is paid off in 25 years we would be receiving substantial sums from abroad for 37 years afterwards.
 Senator Copeland of New York, | Democrat, has made public statement" in which he follows out the general idea of lowering taxes, especially abolishing the federal inheritance tax. He would create a lessened necessity for high taxation by not attempting to pay off the national debt in less than GO years. He figures that elongated payment of the national debt - by posterity - would enable the people living today to pay s5O0,OOO,O 900 a year less in income taxes alone.
 Secretary Mellon himself is ex- pcCtcd to recommend a reduction of surtaxes to a maximum of 20 per cent and lowering or elimina- tion of inheritance taxes. This cut ting of the maximum surtaxes in half would still leave surtaXes, and the interesting point would be how | they would be distributed At pres
 
 ent the surtax begins with 1 per cent on an income Of $10,000, and in easy stages reaches 10 per cent i for incomes of $500,00o or over. The 20 per cent surtaX is reached by incomes of S56,000. A % per cent surtax on an income of half a million or over would still yield large sums and would create irri- tation by the comparative few be- ing compelled to pay it.
 The propaganda against the in- heritance tax Is something that cannot interest either the average man or the average wealthy man, or their heirs. Estates lip to $50,- 900 are entirely exempt from fed eral inheritance tax, and then the tax starts at per cent and runs up to 40 per cent for estates of S10,000, 900 or more. The tax on an estate of st00,000 is f per cent, on 1 s2O0, GOO is per cent, and so OH. Nose people are not bothered with that much money and may be justi- fled In wondering why so much space is given to discussing the matter when a great many vital things in which he a P q the vast majority of citizens are interested in get very little attention by poli- ticians and statesmen.
 Of course, there may be a con- siderable difference between what is planned by sundry statesmen be- fore Congress meets and what actually is done. There Is so much political expe1iency an q compro- mise rampant In Congress that sometimes very little is ac- complshcd, Several political writers forecast a spirited division upon the tax reduction plans and point out that the ensuing Congrcesiona elections will be a governing factor in what is accomplished. One thing is certain; Anything that will have tendency to lose votes in hotIJ contested states will not pass mus ter
 We watched the Hearst paper reaching the city rather closet! yesterday and learned that the lily