The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1936-04-16

All IdIR mental affairs ex-
About Taxes cept taxes. Every
one charged with re-
spOnsibility for maintenance Of govern
ment credit or the maintenance of the
supply Of cash to carry on the era of
spending is talking about taxes. 1t is
in truth the predominant subject, over
shadOwing even the lobby investiga-
COn headed by Senator Black, Alabama
Democrat, with that committees record
Of obtaining private kilograms by sub
terfuge.
II really is not startling that every
one should be talking about taxes be-
cause. however you examine the ques-
ton Of government at this time, your
analysis must inevitably lead back to
the question of the source Of funds.
And how could it be otherwise? We
have q national debt S5,0O0,00O,000
larger than 1t has ever been before,
and still going higher; we have seven
or nine or eleven million people unem-
plOyed-depending on the source Of
your information on this pOint-and
we are confronted with declarations
from President Roosevelt and his ad-
visers that more must be spent It
seems perfectly obvious, therefore, that
saner minds should be examining the
whole economic structure of the ma
ton 10 determine from whence the
money is TO come.
Congress is in the midst Of working
out a new tax bill. The house of rep
resentatives, where revenue legislation
must originate, according to the Con-
Stitutien which is still operative, is up
TO its neck with the tax problem. 1t
is trying 10 work out tax bill that
will carry out the White House orders
10 take more money from corporations
by leTies on SURPRISES along with some
minor schemes of taxation designed to
increase the total somewhat
During the time the house ways and
means committee was trying to formu-
late tax program on the basis of the
Presidents tax message, there was a
perfect deluge of tax discussion here
aboUts. I think it may be said in this
connection, also, that the house ways
and means committee did a rather
ridiculous thing as a preliminary to
presentation of a tax bill TO the house.
1t actually began hearings on tax leg
islatiOn without tax bill in legislative
language having been drafted As far
as / can learn, ii was the first time
that witnesses were called in and
asked 10 testify as TO the efficacy Of
proposed tax legislation when there
was actually no language in legislative
form about which those witnesses
could testify, either for or against. All
the committee had before it was a so
called committee report" a statement
of its views as 10 what ought to be
done and II was almost pitiful to wit
ness individuals who are expert on
taxation attempting TO catch on TO
some will-O'-the-wisp and say that it
was sound or unsOund. Yet, that was
what Chairman Doughton, Democrat,
North Carolina, and his committee
asked them TO do.
Perhaps l ought 10 explain for the
benefit of those not acquainted with
tax legislation that there is nothing
so important in a tax bill as the
exact language. There are few
places in law where the use of a
particular word or the placing of a
particular comma makes so much diff
ference. In tax law, the dotting of
an i and the crossing of a are, in
deed, important.
nwn no I'D <rnr -
situation, however, and 1 hope, as
believe everyone else
WheeleTs desiring good gov
SUGGESTION eminent and proper
laws hopes, that il
will result in a tax bill generally
more acceptable than has been pro-
posed thus far. The maelstrom of
discussion that has arisen from the
house ways and means committee
hearings has made a good many peo-
pie tax conscious" Being tax con-
scious" at this time, a good many
men capable of thinking straight
have begun to offer suggestions.
l have been receiving some Of them
myself and one that has come TO me
has impressed me so much that I
am going to use the substance of Ii
in this column. 1t comes to me from
Mr.. Harry A. Wheeler, widely known
business executive and banker of
Chicago. Mr.. Wheeler has been rec
OgniZed for a quarter of a century as
q man who is given 10 looking rather
far into the future and for his ability
10 analyze problems, circumstances
and conditions on a long-term basis
rather than on urgency of current re-
quirements.
"Sfnce the consideration of the cor
porate surplus tax act began" Mr.
Wheeler wrote me, Il have watched
the proceedings closely for some al
tentative proposal that would produce
q substantial tax revenue and yet tend
TO strengthen the program Of the ad-
ministration 10 assure continuing busi-
ness recovery, create definite added
employment in industries still down,
and lower production costs and prices
70 the ultimate consumer.
mo one denies that increased fed
sral revenue by taxation is impera-
dive, but II may be open to argument
whether this can best be produced by
the direct route OF tax levies to cover
full requirement or by beginning with
a plan that will produce a large pro-
portion OF the requirements and per-
NIT the use of the remainder TO &C
complish the results first above stated.
The proposal is very simple, quite
capable Of being written into legisla-
tive provisions; il would carry a clear
guarantee Of useful results and reach
the final full requirements Of the gov