The Lexington advertiser. [volume] (Lexington, Miss.) 1904-1985, 1947-12-11
Income Tax Lows Need REVISING

< Back in 1918 when the income tax amendment was being
Fdebated it was regarded in terms of a small levy. At that time it
!. was never dreamed that the day would come when the United
Estates government would take as much as SO cents out of a tax
payers dollar as it does now : and the rate has been higher.
IL the people had known then what they know now the
@chances are the income tax law would never have been passed.
Today we have the spectacle of big business not produc-
sang the needs OF this country because, in a measure, of the in
Acome tax law.
Take the automobile business, for example. 1t was
thought that at least 100000 passenger units would be produced
for this year whereas now it appears that the goal will fall short
by some 1,5O0,O 90 units.
The large automobile manufacturers are in the bracket
where the government gets most of their income anyway so why
should they produce more Why not limit production and prolong
the present good tines enjoyed by automobile manufacturers?
This seems sensible from their point of view.
Take a look at the rates enjoyed in the income tax law
o1 october g. 1913, the first measure passed after the income tax
amendmen became effective.
Exemptions then were $4,000 for a single person, $4,000
% a married couple. Exemptions now are $500 and $4,000. The
regular rate on income above the exemption was / per cent. Bot-
tom bracket rate is now 10 per cent?. For large Incomes, there
was an additional tax" what we now call a surtax. And here
were the rates:
More than $4,000, not over s5o,ooo-1 per cent (now it's
sd per cent to 68 per cent?.
More than $4,000, not over $4,000 per cent now
More than $4,000, not over sloo,oOo-s per cent now,
II per cent to SO per cent?.
More than 100000, not over $4,000 per cent now
30 per cent to S645 per cent?.
More than S25OOOO. not over $500 O00 < ner cer frow
g S6.45 per cent?.
More than $500,0O0-6p per cent (now, S6.45 per cent?.
AT that time this country was run on a different con-
Ncept tnan now. Then the government was supported by the peo-
pie and our budget ran only a billion a year. Today the philosophy
or government has changed to the extent that the government is
caned upon to provide security for its citizens to the extent of
running our present budget into several billions of dollars annual
Y, with our contemplated foreign aid program under the
Marshall Plan alone to cost this country's taxpayers five billion
dollars a year for the next four years.
n American taxpayers provided the money to fight
Worio war to make the world safe for democracy and World
war Ii &c prevent German domination of the world and now is
being asked under the Marshall Plan to underwrite the economy
OF Europe TO prevent the Russian-controled Communists from
gaining ccntro!. Re c&1nct finance the security of Europe and the
world indefinitely without going broke there must be a
stopping point somewhere.
Ihe American taxpayer needs relief and now.
Inc power to tax is the power to DESTROY and our Con-
gress must reahze this and give the American taxpaver incIndino
business a break long overdue the income tax law would he
a good place to start. ouu ~