The midland journal. (Rising Sun, Md.) 1885-1947, 1941-12-05
IdZiEI|''||2
lReleased BY western Newspaper Union.)
CONTRASTING OUR TAXES
WITH ENGLISH SYSTEM
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THE BRITISH GOVERNMENT
wants jobs for its people; it wants
industry to produce merchandise
for export so it may have credits
abroad against which to purchase
food, raw materials and war equip
ment, and it wants cargoes for its
ships. To encourage industry, 1t
levies low taxes on corporations and
high taxes on the individual, in
Guiding those whose revenue comes
as dividends from corporations.
In this country, Secretary Nor
eenthau has advocated confiscation
Of all corporation profits Of more
than 6 per cent on the invested capi-
tai.
A Minneapolis corporation with
an invested capital of So, 496, 600
earned and paid out in dividends in
1910 total Of ST, 140, 900. Under the
1910 law, it paid in taxes a total
of $273, 600 Under the law as pro-
posed by Mr.. Morgenthau, it would
pay $930,240.
If that company were operating in
England, with the same amount OF
invested capital and the same earn
ings, it would pay at the present
time tax of only $57 900. But
in England each stakeholder would
have paid tax on what he received
as dividend. That tax would have
been deducted from his dividend
check and would have been the
same per share whether the stock
holder owned one or many shares.
The individual pays instead OF the
corporation. The individual knows
definitely how much tax he pays.
Directly or indirectly, we Aneri-
cans own our American corpora
tions. We provide the capital in
vested in the tools with which in
dustry operates. The taxes they pay
is paid with our money, but we are
not supposed to know that. Figured
on either per capita or dollars
earned basis, we pay a higher tax
than is paid by the English people
and that is another thing we are
not supposed to know.
To me it seems the English way.
is the more honest and more con-
ducive to national welfare.
- -
PRICE RISES FAST
RECENTLY woman went into
a Chicago store to look at house
dresses. She found one that suited,
but wished to look elsewhere before
buying. At another store she found
the same dress, but the price was
some 10 per cent higher. She hur-
ried back to the clerk who had
shown her the dress at the first
store, saying she would take the
dress she had looked at but a few
minutes before. g
''It will be about an hour before
/ can sell you that dress now" said
the clerk. '.And then the price will
be higher. All dresses in that line
have been taken away for today's
mark-up."
That is what is happening prac-
tica1ly every day in the great ner-
camille establishments Of the cities.
The prices 60 up while you wait. Is
that an evidence Of imitation? 49,
UNION LABOR LEADERS win
not be satisfied until every man and
woman who works pays union for
the privilege of working.
PORK BARREL OF
YESTERYEAR AND TODAY
1T WAS NOT so long ago, as time
is measured, that I, as boy, lis
tened to the discussions Of govern
mental affairs by the farmers and
townspeople as they sat around the
stove in the general store In the
Iowa village in which lived. The
most frequently discussed subject
wasl the .'pork barrel" the rivers
and harbors and public works APP
preparations made by congress.
Well do / remember an item Of
$4,000 in one Of those appropria-
lions for Deepening the .channel OF
the iDes Moines river where it ran
through our village. It was ac-
claimed as wise legislation, but
other items for equally uninportant
projects were severely condemned.
They did not mean additional dol
lars to he spent locally.
What was, true of the American
people in those days is still true.
We look at the activities of gov
eminent from q selfish viewpoint.
We approve Of any activity that
means a profit or benefit to any Of
US as individuals or to our. locality,
regardless Of its need or value to
the nation.
Farmers and town people are still
discussing governmental activities
and expenditures in thousands Of
American villages. Where. appro-
priation items were once stated in
terms Of thousands Of dollars, and
totals in limited millions. the indi-
vidual items are now. in terms Of
millions and the totals IN billions.
The fienres are too great for those
rural critics to- comprehend. They
cannot uisnalize such sums, but they