The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1941-09-10

The question OF whether We
should pay more OF the war ex-
pense as We go or continue borrow
ing huge sums for increased in
debtedness is clearly settled in the
minds of such men as Senator
Clark OF Missouri.
Declaring that taxes imposed In
the new S3,679,SO0,QQ0 revenue bilt
will endure beyond the life OF all
persons now living, Sen. Clark
demands that. Congress overhaul
the entire federal tax structure.
Instead Of recasting the tax
system, as feel Congress is in
duty bound to do, and facing the
very heart-rending burden OF taxa
ton which our stupendous appro-
priations already make necessary,
We are proceeding in an entirely
haphazard manner" says Clark.
We are picking out certain brack-
cts OF the income tax and imposing
intolerabie burdens. and then piec-
ing out the stated sum by picking
out certain industries, or parts OF
industries. and levying excise taxes
which, after all. are sales taxes.
without any regard whatever 10
the industrial or business situa-
lion.
If We are to keep solvent It
is necessary TO raise huge sums by
taxation Taxes cannot be levied
without hardship in multitude Of
cases. We face a situation where
taxes certainly never will be less,
and al the present rates Of spend
ing will be infinitely greater
Il think it is entirely safe to say
no tax now being imposed is likely
to be removed in the lifetime OF
ourselves or Our grandchildren
Sen Clark had the support Of
Sen. LaFollette tP) Wis, in an at
tack on the sFinance Committee (
proposal that individual tax ex-
emptions be cut TO $500 for mar
ried persons and $3.50 for single
persons.
LaFollette proposed TO increase
sharply federal estate and gift tax
rates. 10 yield $4,000 900, as one
means OF making up the 100000
900 which would be lost by rejec-
ton OF lower exemptions.
President Roosevelt favors lower
ing the exemptions. designed 10
spread the tax burden over mil
lions OF taxpayers. but Clark at
tacks the proposal as bringing into
the tax system persons making as
low as $3.50 a month. Only about
$4,000, 900 would be obtained from
new taxpayers under this plan. Il
is simply a dip in the bucket"
says Clark. and means heavier bur.
dens to come.
The senator is right about forty
million dollars being merely a dip
in the bucket OF present national
expenditures, and not q very deer
dip either. He IL also right T.
saying that whatever taxes We
add now will probably be continued
long time. providing We pay on.
debts. Perhaps the administration
has other plans The short way. oil
course. would be the German way
wipe out the debt and start over
IL that is what we are headed FOL
we need not worry about future Ia,
plans. All We need worry abou
is whether We shall eat And II W.
pay all our present indebtedness.
and what is yet to come. we mal
also worry about some Of the essen
tials including food.
Regardless Of what course W
follow there are worries ahead
There can be no doubt about eco
nomic problems that will max,
some of our past depressions seen
like periods Of prosperity We ar,
inclined to lend an ear to the Eel
low who says an optimist Is tn
man who thinks the future is doub'
ful. II certainly looks now a
though there couldn't be muc
doubt about the future being pre-
ty bad. But IL We get nothing wors
than financial troubles We can b
thankful II we add war and revc
luton We can then begin TO sa
that things are really gettin
tough.