The Skyland post. [volume] (West Jefferson, N.C.) 193?-1988, 1939-03-23

Ga Ilb6 uNCO1llC YAK IctOA4AS 4OA
1888, which were filed with the
Treasury on March 18th, can be
a1taayzed so that officials win
know just how the national in
come IS going and how far it will
be safe to make changes in the
present tax laws, Congress lead
erS and the Administration heads
expect to get together and try
to work out a complete revision
of the tax laws.
The purpose is to try to fix it
So that business men, capitalists
ana investors will feel assured
thHt if they make any money it
will not all be taken away from
them in taxes, and that if they
put up cash to finance new en-
terprises they will not be pun
iShed if the speculation turns out
well.
There is APPARENTLY almost COM
plete agreement between the
President and his Cabinet, the
majority leaders in Congrss and
the members of the minority
party, that it is essential to re-
covery to give private enterprise
a greater chance.
Harry Hopkins was the fore
most Presidential favorite, and is
still high in Mr.. Roosevelt's good
graces. But from the point of
view Of some of the others who
feel themselves close to the
White House, Mr.. Hopkins has
turned traitor to the principles
which they have insistently urg-
ed for several years.
Instead of soaking" business
men, now that he is Secretary of
Commerce, he is making friends
with economic royalists and ear
nestly trying to help them to
find ways to invest their money
where it will create new bust
ness and put more men to work.
Means Business
There is no doubt that Mr..
Hopkins means business, and
that he has the President behind
him. Likewise the SECRETARY Of
the Treasury, Mr. Morgenthau,
means business when he says the
Treasury will not stand for any
additional taxes and favors re-
adjustment Of present taxes.
And these members of the
Cabinet would not be talking as
they are doing unless they felt
positive that the President real
ly meant it when he said he
would not urge any more re-
forms but would give his atten-
ton to recovery first.
Therefore the Chairman of the
Senate Finance Committee, Sen
ator Pat Harrison, and the
Chairman of the Ways and
Means Committee of the House,
Representative Doughton feels
thet they are on solid ground in
starting to work out tax sys-
tenn which will be as satisfactory
to business interests as any taxa
ton can be.
The indications are that the
new tax program will omit the
undistributed profits tax entire
ly.
One conflict between the Pres
ident and Congress has been re-
Vived by the Presidential inSis-
tence that the $50 million dol
lars which was cut out of the w.
P. A. appropriation be restored.
He is not likely to get it without
a fight. The whole attitude of
Congress is that the faster and
deeper the expenditures for re-
lief can be cut, the better.
The hope, of course, is that tax
revisions and other factors will
stimulate business so that the I'M
employment situation will be
speedily improved. At present
the Federal expenditures for re-
lief in all forms run to twice as
much money as any other single
item on the budget.
Surplus Food Plan
Washington is awaiting with
interest the development of Sec
rotary Wallace's newest plan for
the distribution of surplus food
products. Instead of buying up
SURPRISES and giving them away,
they are to be distributed
through regular food stores to w.
P. A. workers as part of their
wages.
The scheme works this way: a
w. P. A. worker getting $50 a |
month will be offered $50 OF 1t
in orange-colored stamps, good
for food purchases in any store
anywhere. The storekeeper can