OCR Text |
Show MODERATION IN TAXATION TAXA-TION BRINGS RESULTS There was a time wnen the small taxpayer did not understand that the general prosperity of the country was v diminished by imposition of these excessive ex-cessive surtaxes, and welcomed a stiff levy on incomes in the higher brackets. brack-ets. The average citizen is now better bet-ter informed and knows that general business conditions are not improved by driving productive business into tax-exempt securities. When capital is kept out of productive produc-tive enterprise by excessive taxation this unnatural diversion yields no revenue re-venue to the government and is costly to industry. A man is not interested in-terested in risking his money and energy in an enterprise where, if he wins, the government takes a great part of the profits in taxes, and if he loses he stands the whole of the loss. Initative and new ventures are penalized by such a policy. |