The midland journal. (Rising Sun, Md.) 1885-1947, 1935-04-26

or reserves In tax-exempt bonds. The
bill proposes first to limit the amount
of income which that corporation may
receive and to tax half of the re-
mainder. The result Is that income
from tax-exempt securities would be
mingled with other forms Of Income
and the government would dip its hand
into the total and take whatever
amount the law prescribed.
Another provision of the bill would
result in government confiscatlon In
wartime of every dollar Of income that
pany or partnership received In excess
of $4,000 per year. 1t is to be re-
membered here that the above-men-
toned $4,000 would not be tax-ex-
empt. Those drawing such salaries still
would have to pay the government
$4,000 In taxes on the $4,000 income.
In other words, since nearly every one
receiving salaries of this size serves
in an official capacity with some COM
mercial unit, the tax provision actually
reaches nearly all Of the individual In
come tax payers.
Certainly, the drastic rates affect all
persons receiving any income of con-
sequence because there is sharp re-
duction In the personal exemption pre-
scribed and the tax rates themselves
are boosted higher than a kite. For
instance, a married man with an in
come of $4,000 year would have to
pay a minimum of $500 to the govern
ment Immediately war was declared.
The lethargy that continues among
national Republican leaders is begin
ming to grow irksome
Criticize upon minor wheel
Leaders horses and individual
Republicans of lesser
consequence in national affairs. Word
is coming through to Washington from
various sections of the country indi-
eating considerable dissatisfaction with
the management of Republican party
affairs by the present regime, headed
by Henry p. Fletcher, national chair
man. There is likewise a growing vol
ume of criticism of the work of Sena-
tor Hastings of Delaware, and Repre-
sentative Bolton of Ohio, joint chair
men of the Republican-senatorial-
gressional committee. Specifically, at
least, 1t appears that the Republican
pot is about to boil over.
1 don't believe anybody can forecast
- 1t ,1.ak t.
to be. 1t should be said in favor of
Mr.. Fletcher and Co-Chairmen Hast
ings and Bolton that they are in
tough spot. They are criticized If they
do and criticized if they don't. Yet the
fact remains and I think 1t is recog-
nized everywhere that none of these
three has taken positive position nor
has he initiated any constructive effort
In behalf Of his party's political fu-
ture.
From among Republicans who yet
remain in congress, have picked up
much private discussion indicating
fear on their part that the Republican
party management is faced with an
upheaval equivalent to the Roosevelt
New Deal among the Democrats unless
the party leaders awaken from their
unperturbed sleep. The point made
most frequently is that President
Roosevelt actually has inaugurated his
campaign for reelection, and the Re
publicans are doing absolutely moth
ing about It. 1t is well to recall that
Postmaster General Farley is planning
to retire-just when nobody knows
to devote his attention to his other
Job which is chairman of the Demo-
cratic national committee. This infOr-
nation can be construed in only one
way now that Mr.. Fletcher is getting
ready to take his seat again at the
helm of the campaign machine. Some
of the smarter Republicans insist that
this should be notice to the guiding
lights of their own party to begin con-
struction of political trenches.
Something may come of the Repub-
lican sectional meetings now being
planned. 1t is just possible that out
Of these group discussions may be
evolved some national program, or the
markings of a national policy. 1t is
likewise possible that from these group
discussions some individual may arise
who would be a worthwhile leader for
the party against Mr.. Roosevelt next
year. To date, according to all Of the
information l can obtain, that leader
is not In sight. Senator Arthur Van
denberg of Michigan, who was re-
elected to the senate last year in the
midst of a Democratic landslide, has
been suggested. On the other hand,
wise politicians tell me that because
Senator Vandenberg has been men.
toned thus early, he is likely to be
out of the running when the conven-.
ton time comes because In politics 1t
is the early bird who catches the curse
instead of the worm.
But to forget the weaknesses Of the
Republicans in leadership does not
cause one to forget the palpable fail
ure made by those in charge at pres
ent. So far as the public record shows
they have taken no advantage what
soever of vulnerable spots in the New