, 1935-08-25
E. IA. Card Discusses
Need of Tax Cuts For
Development Return

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are greater than renting anywhere
You 90. Ownership Of industrial
plants. homes and all property Is a
burden. Never In any depression
OF the past have we had such q
condition. It has been novel TO US
but nc pleasure. Why not 20
straight to the cause and remedy
same? The trouble is not alone In
the Rio Grande Valley, staid
Philadelphia has felt the iron chain.
Detroit has felt. IL with a ven
geance, Chicago and nearly every
other section that one can mention.
/ believe that removal Of two
thirds Of our bond tax" In the
Valley. II it could be done with
consistency and with dispatch,
would produce a boom such as few
areas have ever experienced. Ask
any man you please who has money
tucked away in safety deposit box
eS why you can't sell him the great
bargains lying around, he viii al
ways 60 back to that bond tax as
the basis OF fears. He is afraid
that his capital will be diminished
or lost through the medium Of tax
alton while chances Of profit on
same are SO low.
II we had such an adjustment OF
taxes. the man with money idle.
having a fair measure of security
that he could buy a be in in an
office building or other property he
would buy same. After buying, the
next thing, as q logical and neces-
>ary sequence would be to make the
improvements necessary to fun ef-
ficiency and good condition for
such property. In making such i'm
provements, or In putting such in
dustrial property into production.
or In rehabilitating such orchard
or other bargain he might buy. he
would automatically employ much
labor. The laborer would IN turn
buy the necessities Of life. This
done, In a general way would mean
industry taking charge and would
mean the depression was over.
AS sure as penalties are allowed 10
continue operating against proper
ty, against industry, against own
ership OF homes-and against the
owners Of such to the extent Of be-
ing in constant fear Of losing these
investments, or having their cap
ital, through the medium of taxa
ton, gradually lost. just that long
Is the depression going to be with
us.
I hold that the owners and oper-
ators Of industry, the owners and
paymasters OF all properties, II
they must be depended upon to
make the wheels Of commerce Il
round r entitled TO a fair meas
ure OF protection. That the owners
of homes, especially the plodding
laborer of civic pride who spends
his life building q modest home,
for those not less loved by being
poor. Is entitled to that God given
freedom in ownership that was
established by our Noble Fore
fathers, mad which is being wrung
from him now as result Of activi-
ties Of promoting politicians using
the vehicle Of Super-proSperity
which was abroad In the land for q
season.
It is the capitalistic system we
have been living under and unless
the unreasonable and confiscatory
penalties upon existence can be re-
moved, the system just that sure Is
gone from us forever. We will have
IN its stead-we know not what.
Why Is 1t that the thinking men OF
power and influence will not form
organizations and get at the source
OF the trouble and plan a resurrec-
tion2
II seems that unless one Is a
politician and running for Office
that IN idea is worthless. = can't
be gotten into the cogS that turn
things. That politicians, most Of
them, are unable to analyze things.
they only recognize an idea when
II comes from someone Of note or
position.
The recent measures Of reftnan-
cling through refunding bond issues
and through government loans, at
30 cents on the dollar, or there
abouts. which some municipalities
are availing themselves Of, offer a
partial solution OF the problems I
have been discussing. But, oh, so
slow 1t Isl Why cannot we have
a general movement. with dispatch
and throw this burden off of the
handspring Of American industry.
The only method ! have been able
to conjure up for real relief Is a
sales tax. A sales tax for relieving
tine burden on property and on
industry and not for additional
revenue for purposes of a dole.
Emancipation OF the American
property holder, OF industry and OF
home owners, must come, If we ever
again shall sing with faith and pride
those noble and stirring songs Of
liberty. which were inspired by the
greatest opponents of freedom yet
TO be evolved by the racel Yea, the
emancipation Of these, the employ
ers Of the nation must come. If the
poor by the thousands shall be
again employed by them. This
emancipation must come; II not
then / am at a loss to know by
what devious means the race shah
again avail itself OF that priceless
heritage Of freedom" established
for a time by those grand fore
fathers Of our early history.
Why Is 1t that though we be
thanked with abundance on all
sides. that we are so limited In
capacity, that we can't work out a
system Of distribution that will
permit men 70 live and let live.
Where is all the talent being ap-
piled that has produced our great
organizations and institutions that
they are 50 helpless In this present