Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-25
Treasury's Timely Tax Cut
Welcomed as Ray of Sunshine

Public confidence in prospects of fu-
tire prosperity is declared to have been
created by the action of the Federal
Government in reducing taxes, effective
with the payments due in 1880. The
value Of this step in stabilizing business
is emphasized, and it is also pointed out
that the reduction is justified by the
condition of the Treasury. Return sur
plus to the people Is the best use that
could have been put to it in the opinion
Of most commentators.
It is described by the Rock Island
Argus as "a bit of psychological sun
shine" and that paper feels that I'VE
all need the sunshine" The st. Louis
Times describes it as "in line with the
best policies designed to hold business
on an even keel" The Baltimore Sun
sees "a certain amount of theoretical
appeal as a general proposition" in SEN
ator CouzenS' contention that at would
be better to devote the money to public
works which would give employment to
jobless men," but points to "the rela-
lively small amount of unemployment
that could be relieved with $4,000 =
o00," and concludes that "in any event,
the general proposition advanced by
Senator CouZenS does not meet the
major argument advanced in favor of
the tax cut, that it was the best avail
able gesture to improve the general
morale"
cit will serve to put more money into
business. 1t is assurance also that
the country is In sound condition, or
the reduction could not have been
made" declares the Albany Evening
News, while the San Francisco
Chronicle calls the "early enactment
highly important" pointing out that
"the public now has notice that it is
to receive a $160,000,000 dividend out
of surplus and, like every such dividend,
this one has an added value because
the participants know it is coming"
The Fort Worth Record Telegram states
that Gin its entirety it is placing a vast
sum of money into the more individual
channels of circulation" that it is 'the
shortest route to the restoration of con-
fidence," and that 'the latter is all the
country needs to begin most suspicious
New Year of $780,"
Its place in the Hoover program for
restoration of public confidence in the
economic soundness of the countrys
business" is attested by the Haverhill
Gazette, and the Rochester Times
Union feels that it should aid in the
task of stabilizing business, industry,
agriculture and employment" The Tulsa
World, referring to other proposals for
the use of the millions of surplus, says,
"All these were good purposes, and the
country would doubtless be benefited
through any of them, but their intro
duction at the critical time of con-
sideration for the tax cut was some
what confusing and a little bit unjust"
1.-THE Treasury Department" accord
ing to the Charleston Evening Post,
"is probably justified in its opposition
to the Couzens proposal to make still
further reductions in income taxes.
One per cent on incomes of
individuals and corporations all along
the line is little or a lot, according
to the income that saves it, but to
the Government itself it is a great deal.
1t means sharp curtailment in re-
turns from one of the largest sources
of revenue"
Wisdom in Government has made
possible this diversion of funds back
to the people," AYERS the Worcester
Telegram, and the Salina Journal
argues that "the lifting of this load
can be and must be passed on, in
some form, to consumers" while the
Lincoln State Journal says: "a great