Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-09-29

that Indeed, by the time the last pay
ments are in, it may be that the Gov
eminent will have collected more than
under the former law" The kalama-
zoo Gazette independently says of the
situation: "If Congress should vote an
other tax cut in December the new
rate would be applied to the revenue
collections made next March. On the
basis of present knowledge that may
seem a. little soon to make further
reductions in rates which have al
ready been greatly reduced. 1t is pos
sible. however, that information fully
iustifying such action may he forth-
coming between now and the date OF
the short sessions adjournment.
perusal of revenue reports the frst
of the year may convince even the al
ministration that downward revision
can be effected without danger or
Treasury deficit or serious income
shortage"
Reduction, in the opinion of the VIII
Transport Sun independently. lis pretty
certain to have the backing or nearly
all Democratic members of the House
and Senate, and, with the expected
s1,pport of some of the Republican
members. there is possibility that
the administration program VIII be up
set" The Durham Sun independently
maintains that 1.-THE Federal Govern
ment can reduce taxes and IS just
about the only source from which may
no expected material tax reduction
with the added contention that amy
reduction must apply to all classes
The Wall Street Journal ttinanciaD
argues that Secretary Mellon has
M
no reduces income tax, above reason
able minimum, the better his collec-
tions are. This is only another way or
saving that great individual incomes
are only a small percentage. relatively
of the total income. Our tax exemp-
lions are more liberal than those or
any country in the world. so that IL
is mainly the middle class incomes
which provide revenue. They can az
ford to do SO in view or the reasonable
character Of the levy" The journal
adds that Secretary Mellon has had
no need to manipulate his reductions
4 X X
Tho Racine Journal News Repub-
,ican) points out that 'if the minority
were RESPONSIBLE for the management
of the national finances. II Is safe 10
cav II would resist attempts OF the Re
publican leaders to force tax reduc-
ton before, in it's judgment, 1t was
prudent to do So"
The position Of the Portland Oregon
Journal independently is that 1T Is
not sound policy to continue to pay
interest on money borrowed to pay
$500 900 900 Il year in interest on the
debt. That increases taxes instead Of
reducing them Every time the ma
tional debt is reduced, taxes are re-
duced. Every time the interest on the
debt is reduced, taxes are reduced.
And that is the way that taxes should
be reduced for the present" The New
York Herald Tribune (Republican). adj
hitting that conditions may be high
ly favorable for another tax reduction
in 1928, states that IF so, the country
will want it; but 1t will not want 1t
then or any other time In the near fu-
. ture If the money to meet 1t could be
more advantageously applied to the
liquidation of debt" The Roanoke
World News Democratic) believes
that "a steady, consistent policy Of tax
reduction as the debt Is reduced and
as the wartime costs of Government
are reduced Is one thing and tax re-
duction merely because 1t Is popular Is
another: both the war and the bonus
are still largely to be paid for"
at is within the bounds of POSSIBLE
ity." suggests the Seattle Daily Times
independent Republicans) that the
country win have other wars and will
be obliged to borrow money. We
should not bequeath huge debt. but
rather give posterity chance to win
its battles" a