Gunnison Valley News | 1932-11-10 | Page 4 | The Tax-Produced Depression

THE TAX-PRODUCED DEPRESSION. Said Colonel Robert R. McCormick recently: "The depression here and throughout the world has been caused by excessive taxes, which have made industry and commerce unprofitable, have prevented them from saving any surplus or raising new capital, and have thrown millions of men out of work." Mr. Average Business Man will say "amen" to that. The hand of the tax collector reaches as insistently into the small concern as the large one. It touches, relatively speaking, the millionaire and the clerk about alike, though in the hitter's case the taxes are paid indirectly. It falls on the small farm and the great industry with disastrous consequences for each. Taxes industrial retrenchment unemployment depression. One follows fol-lows the other, with taxes leading the way.