Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1935-08-08

Now then, we come back to the
tax bill, introduced in the House
early last week at the same time
that the Senate began hearings on
the measure. How long 1t will take
the two houses to dispose OF this
bill, designed to raise 1915, 900 900 a
year depends largely upon what hap
pens In the Senate. Once it is dis
posed OF you will find three-day re-
cesses in order until the conference
committees complete their labors,
or report their measures back to
the floor.
In the Senate the tax bill will
u much debate, with the GER
tainty that a group OF Senators, led
by Mr.. LaFollette. will attempt to
write a measure to bring In around
$500, 900 900 and reaching down to
small incomes of 1920 and more
per year. Twenty-Five Senators will
back this effort, which Is aimed to
go far toward budget balancing.
Moreover, another group led by
Senator Borah, a b~itterender ag-
ainst the League OF Nations, will
criticize the administrations failure
to take up the religious situation in
Mexico and Germany and also the
negative attitude adopted toward the
enforcement Of the Kellogg-Briand
act IN regards to Ethiopia and Italy.
go
The President feels that some
legislation affirming our neutrality
status In the event Of a conflict be-
tween other nations is desirable. as
do many others who wish to prevent
this nation from becoming embroil-
ed In another foreign war. How
ever, 1t is Just as we'll to remember
that passage Of laws by the Ameri-
can Congress does not imply that
other nations will observe them or
sOnsider them valid. In fact, In the
opinion Of many observers, there
will be no neutrals in the next great
war, although 1t would be possible
for the United States to give up
some Of It's contentious In regard to
trading rights, during war, and thus
prevent having to" defend its
rights. To protect our legitimate
commerce from depredations OF bel
ligerents In modern wars, when there
Is no accepted agreement upon con-
traband goods, involves, 1t seems to
us, n OF two things, either to abb
andon all rights and let our mer-
chants trade at their own risks In
the war area or else use the navy
and army when necessary, to pro-
tect our traders. This latter course,
naturally, means joining In the war
fare.
The new tax bill, introduced In
the House, deals with four general
classes OF taxes and while 1t is not
worth while, just now, to go into the
rates set up because they r sub
ject to change, it might BE well to
realize that the new measure exacts
a larger revenue from people OF
large ($5O,00O) incomes, sets up
graduated taxes on corporation In
come and also a graduated excess
profit levy on corporations. 1t adds
a new feature in Inheritance and
gift taxes, payable by the benefic-
iaries, as a plan to make a more
equitable distribution OF the burdens
Of government. The new Inherit
ance and gift tax take up the major
| portion of the bill and Is considered
| the keystone of the share-theIwealth
program. While they do not accom-
plish this. they lay the foundation
for heavier taxes later II they are
deemed desirable by Congress. In
heritance taxes would range from 4
to rs per cent on values from $780,
900 to $4,000, 900, with an exemp-
ton OF $4,000 to close-blood rela-
l twas