Red Lodge daily news combined with Carbon County news., 1935-04-24

= SAVoS SCSuL4 4(lGSs
} The effort to tax income from
these securities has been worked
out in q fashion
HoCD Ii that is better II.
Would Work Illustrated than de
fined. A S u m G
that a corporation had invested q
large portion of it's surplus or re-
serves in tax-exempt bonds. The
bill proposes first to limit the
amount of income which that cor
poration may receive and to tax
half Of the remainder. The result
Is that income from tax-exempt Sc
cnritieS would be mingled with 9TH
er forms of income and the govern
ment would dip it's hand into the
total and take whatever amount the
law prescribed.
Another provision of the bill
would result in government confis-
cation in wartime of every dollar of
income that any official Of any cor
pOratiOn, company or partnership
received in excess of $4,000 per
year. 1t is to be remembered here
that the aforementioned $4,000
would not be tax-exempt. 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
commercial unit, the tax provision
actually reaches nearly all of the
individual income tax payers.
Certainly, the drastic rates affect
all persons receiving any income
of consequence because there is a
sharp reduction in the personal ex-
emptiOn prescribed and the tax
rates themselves are boosted higher
than kite. For instance, a married
man with an income of $4,000 a
year would have to pay a minimum
of $500 to the government immedi-
ately war was declared.
The lethargy that continues among
national Republican leaders is be-
ginning to grow
NF1ILct1S irksOme upon mi
Leaders nor wheelhOrses
and individual Re-
publicans of lesser consequence in
national affairs. Word is coming
through to Washington from vari-
GUS sections of the country indicat-
ing considerable dissatisfaction with
the management of Republican
party affairs by the present regime,
headed by Henry P. Fletcher, ma
tiOnal chairman. There is likewise
a growing volume of criticism of
the work of Senator Hastings of
Delaware, and Representative Boil
ton of Ohio, joint chairmen of the
senatorial congressional
committee.
don't believe anybody can fore
cast at this time what the result
is going to be. 1t should be said in
favor of Mr.. Fletcher and Co. Chair
men Hastings. and Bolton that they
are in tough spot. They are criti-
cized If they do and criticized if
they don't. Yet the fact remains and
think it is recognized everywhere +
hat none of these three has taken
| positive position nor has he ini-
lated any constructive effort in be-
lalf of his party's political future.
From among Republicans who yet
'emain in congress, have picked
lp much private discussion indicat-
ng fear on their part that the Re-
publican party management is faced
With an upheaval equivalent to the
Roosevelt New Deal among the
Democrats unless the party leaders
waken from their unperturbed
leep. The point made most fire.
uently is that President Roosevelt
ctually has inaugurated his cam
aign for reelection, and the Repub-
cans are doing absolutely nothing
bout it. It is we'll to recall that
postmaster General Farley is plan
ing to retire-just when nobody
nOws-to devote his attention to
is other job which is chairman of
he Democratic National committee
his information can be construed
l only one way now that Mr.. Flet-
her is getting ready to take his
eat again at the helm of the cam
aign machine. Some of the smarter
epublicans insist that this should
e notice to the guiding lights of
leir own party to begin construc-
on of political trenches.
Something may come of the Re- |
ublican sectional meetings now be- |
lg planned. 1t is just possible that |
ut of these group discussions may
2 evolved some national program, |
: the makings of a national policy.
is likewise possible that from |
lese group discussions some indi-
dual may arise who would be a
orthwhile leader for the party
gainst Mr.. Roosevelt next year. To
ate, according to all of the infor-
alton / can obtain. that leader is
1t in sight. Senator Arthur Van
enberg of Michigan, who was re-