The midland journal. (Rising Sun, Md.) 1885-1947, 1933-01-27
MCCORMICK CALLS FOR
TAXATION CURB


French Lick, Ind. Sept. 2O-Robert
r. Mccormick, publisher of the Chi
cago Tribune, in a speech prepared for
delivery here tonight, said that the
ownership of property in the United
States mas become liability, not an
asset"
Addressing the thirty sixth annual
banquet of the. Grain and Feed Dealers
National Association, Mr. Mccormick
declared that the return Of prosperity
depends upon tax reduction.
1.-The evil talk of tax strikes is heard
throughout the land, but far more
serious than strikes l. the srowing
inability of taxpayers 10 pay Mr..
Mccormick asserted. His remarks
were broadcast over national radio
network.
Says Taxes Can Not lie Met
Strike or no strike. it is absolutely
impossible to pay the taxes assessed"
he said. Owners of buildings are
tearing them down because the taxes
are more than the receipts. Owners
of unimproved property are unable to
pay their taxes and tax buyers cannot
be found to evict them. Individuals,
estates and corporations are begin
ming to find it impossible to meet Fed
eral taxation extorted with all the
ruthlessness of the Germans in Bel
GUM.
Ever since the war the Govern
ment has been living on and living off
income taxes and taxes that ii called
income taxes. Where the taxes We're
levied on profit in the purchase and
sale of a fixed article, such as a piece
of rea! estate or q certificate repf O.
senting the ownership OF a company
owning real estate, improved or unim-
proved, railroad or a factory, the
tax is not on income, but is a capital
levy. This fact is recogni ed in the
new tax law under which losses in the
resale of such property may. not be
deducted.
obviously, by TIE continuation of
the principle of taxes, exacting tribute
on values as they rise and conceding
nothing when they decline, soon or
late the Government will have ex-
torted the entire value of all prop
erty."
Traces Mounting Costs
Mr.. Mccormick traced the mounting
cost of Government since the World
War To-day" he declared, 1.-The Unit
ed States Government, through one of
| it's agencies or another, dominates
transportation, banking and agricul-
ture, and is reaching out for domin-
anee over manufacturing and COM
merce. In less than a generation the
taxes paid to the United States Treas
ury have risen from less than billion
dollars a year to well over billion"
If the present trend continues, he
said, the tax exactions will rise, year
by year, until all private profits will
disappear.
Quick Action Necessary
I'VE are close to that point today"
he added The governments, nation
al, state and local, are taking fourth
of the income of the American people
today and about one-third of this
huge total goes to Washington. -.
'eYou who wish to save our country
must act quickly. You must elect a
Congress that will aid, not ruin, 1t.
You must organize to send to WASH
ington men who will undo the mis-
deeds of the last Congress and start
US back from the road to ruin on
which we are travelling"
Representative M. ]. Hart, of Michi-
gan, one of several speakers at to-
days business session, urged the grain
dealers to Organize to protect agri-
culture and thereby protect your
selves"
He declared washington is filled
with highly-pai so-called farmer
representatives"
Farm Bureau Federation Assafled
They have represented everybody
except the farmer" Mr.. Hart added.
THE farmer has been sold into eco
nomic slavery. The prosperity of your
business is tied up with the prosperity
of the farmer"
He referred to the American Farm
Bureau Federation as 1.-The greatest
organized bunch of racketeers in
Washington"
J. w. Garrow, of Houston, Texas,
charged there was a hook-up between
the Department of Agriculture the
Farm Board and the cooperatives to
force all cotton produced under seed
loans into the cooperative organiza-
tions.