Evening star., 1938-01-11
MAVERICK DENIES
BUSINESS INJURED
Says Levies Represent lust
Share Big Corporations
Should Assume.

The following address on Federal
taxation was delivered last night by
Representa- tive Maury Maverick. DEM
ocrat, of Texas, speaking on the Ma
tional Radio Forum, arranged by The
Star and broadcast over q Nation
wide network of the National Broad
casting Co.:
Tonight I am going to talk about
Federal taxation. It's dull but i'm
portant subject. because it touches
every phase of our lives.
In order to make the matter under
stood, I have had precise, scientific
studies made And If you want copy
OF this speech, drop me card. Added
to the speech will be the authority for
my statements, in the form of official
reports. tables and statistics.
Much of the talk against the Gov
eminent today is originated by rich
agitators, and I expect to use plain
terms. say this because If a speaker
uses the term rich man" or mentions
"big corporations, the next day or
two some stuffed-shirt columnist will
sob the full length of his daily blurb
for the mistreated rich. If you so
much as use the words rich" or
Corporation" you are rabble-rouser,
. demagogue and dangerous man.
Worries More About Workers.
But there really are rich men, poor
men, corporations. beggar men and
thieves, just as there are rabble rousers
and demagogues, and all are sup
posed to be subject to the supreme
law of the land. Unless the maudlin
professional apologists believe in anar-
chy, their rich pals must come under
the law. too. Frankly. I worry less
about Henry Ford than do about the
automobile workers who are kicked out
of jobs or brutally beaten at the gates
of some automobile factory. worry
less about the steel masters than I do
about steel workers. 10 of whom, I'M
armed, were shot down and killed by
police last Memorial Day in Chicago.
But aside from that, 1 want to talk
about taxation from the viewpoint of
dollars and cents and the na ational well
fare. As the Roman said, country
men, lend me Your ears and turn not
to crooner or nanny singer. and I
will try to discuss the subject without
sobbing over either the rich or the
poor.
First of all, I'm simply amazed that
any one has the nerve to blame the
present showdown in employment and
low-doWn in stocks on the fact giant
corporations and wealthy persons are
having to pay reasonable portion Of
their just share of taxation in the
country from which. and off of which,
they made their money. The bowling
and believing of these groups against
the Government just doesn't make
any sense.
So now I am going to discuss the
facts about the capital gains tax, and
the undistributed earnings tax. The
loudest complaint is against the un-
distributed earnings tax. The taxes
they are really out to get are the
capital gains tax. by which the Gov
ernment takes in taxation a part of
the unearned income from increases
in value of stocks and other property,
and the high surtaxes OF the super
millionaires.
Tax Passed in 1884.
This capital gains tax was passed
back In 1894. It began to pinch the
big rich pretty hard last year when
they cashed In on the huge profits
which had been incubating since 1892.
Let's look into this vast incubator
Of profit, where very few want all
the chickens that are Matched. Bill
Douglas. chairman OF the Securities
Exchange Commission, made a state
ment this last November based on the
commissions official records. It
showed that from the very first of
last year the insiders on the New
York Stock Exchange were selling
their stocks like hot cakes and, what