Beaver Press | 1924-04-04 | Page 4 | A Premium on Idleness

A PREMIUM ON IDLENESS the saturday evening post tells a story of an eastern tactile manufacturer fac of middle age who rebelled against high surtaxes sur taxes lie ile closed his mill liquidated his capital and put the proceeds into tax free securities he now spends his bis time almo in travel and recreation this is what he says about it why should I 1 keep factory hours subject my capital to the tha risks or of business beai wear myself out in the dally grind and then handi over fit ty eight per cent of my profit to trie me federal government and another largo large slice to the state and local tax collectors my tax lax free bonds yield me more dollars that I 1 can call my own than my business did before 1 I gave it up the government that penalized me when I 1 was useful and productive duc tive now puts a on my idleness the green amendment to the constitution ution which has been before congress to do away with future issues issue of tax exempt bonds was waa defeated on february 8 1924 by the narrow margin of 7 votes ic lesa 6 than the two thirds required many speakers who opposed the amendment spent more time abusing those who favored it than in presenting economic arguments against it lazy yealth will enjoy another year of idleness in tax exempt tonas donas but public demand tor for a square deal dea in taxation grows stronger every year