The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-11
JAN. II, 1886
JAN. II, IJ0O------
SCRIPTS GIVEN
WIDE SUPPORT
ON TAX CHANGE
Keen | interest in Reform
Evinced Here and in
Washington.
CONTINUED From Pag. One)

others are very anxious to see q de-
crease in expenses, which mean
taxes.
The expense under this plan
would be considerable as it would
necessitate opening up credit books
with many, many thousands of tax
payers.
1t would also delay revenue COM
ing into the treasury and would en-
tail tremendous amount of detail
work, as readily can be visualized by
every man who has had any ex-
perience in dealing with modern
business that extends credit.
Sees Temptation for Delay
"If such a plan as Mr.. Scripps
suggests were put into effect 1t is
quite likely that the first question
every taxpayer would ask himself
is whether he could not afford to
delay payment of his taxes to the
Federal government and pay the
amount Of interest required and use
that money in his own business or
for some other particular purpose.
I'm other words, the average in
dividual in business would presum-
ably have an additional source of
credit by simply not paying the
amount of money due, but arrang-
ing to take advantage of the credit
plan, whatever it happened to be
in its final adoption by the Con-
gress.
"All in all, knowing very little
about the details or problems OF
Federal tax collection but viewing
Mr.. Scripps' suggestion from the
viewpoint of state tax adminiStra-
tor, I would say that the plan
should not be adopted if there is any
way at all possible to avoid it.
Fears for Uncertainty
GAS I see it, it would merely in
crease the cost of government anc
bring into tax administration
problems many new phases that
could mean long delay in receiving
actual money, much litigation and
at all times an uncertainty of just
what could be expected from tax re-
turns when due. The best way tC
do any kind of business is on cash
basis. This the government SHOULD
attempt to do as far as it possibly
can.
"Mr Scripps, in my judgment, has
SET an example to big business in
this country, that could be well fol-
lowed by others. He presents the
suggestion in his letter in logical
way and asks for objections or rec
ommendation of his plan.
This is certainly more reasonable
than merely to blindly criticise some
method of governmental procedure
without first searching for the facts
in the case and trying to work out
a needed solution in a business-like,
patriotic and constructive manner. "
Mr.. Book, executive vice presi-
dent of the Indianapolis Cham
Der of Commerce: "Mr. Scripps
description of the tax problem
which many businesses face, is well
stated. Many of those who have
faced the problem, or merely the
prospect of it, have felt that taz
rates high enough to endangel
chaos in business management, and
hence to place a perpetual dampel
upon business enterprise, SHOULD be
lowered.
1T is certainly obvious that the
Federal Treasury needs over the
next several years will call for more
rather than less, revenue, and the
problem probably is whether ever
these high rates, plus all other pos
sible sources which Mr.. Scripps OBJ
jects to, may not have to be called
into play.
IF that be the true picture, then
it seems necessary to find some way
of financing extremely heavy tax
payments so as not to cause the
breakup of business enterprise.
MIR. Scripps' plan should have a
thorough exploration, which he
urges"
Mr.. Payne, investment broker: 81
can see no objection to MIR. Scripps
plan for amortiZing these extraor-
binary taxes, indeed it will be but
a short time until the government
will be forced to such a procedure
1--WE are forced in Indiana to
amortize property on -to-10-yeal
basis. Of course, this is only tenn
porary relief. Mr.. Scripps sugges-
ton of the government banking its
tax paper seems to me variant OF
the automobile companies banking
their own deferred payments and Il
apparently has worked satisfactorily
in fiscal way.
1T is a very healthy sign to see
busy men like Mr.. Scripps thinking
out these problems perplexing bust
ness. Too many business men either
cuss or wiring their hands over the
existing situation.
I'VE will have to think our way
out of this depression. I would sug-
gest to the business world it sit on a
log and whittle instead of playing
golf, if you get what I mean"
Mayor Kern: "I read the sugges-
tons with interest. They are worthy
of consideration of Federal taxing
authorities"