Show Let us have havo faith that right makes might and andin r in that faith let n us to the end daro to do our duty as we understand it Lincoln Time for Agreement S SMOOT gives a n rational explanation of tho the reluctance of or Congress to undertake federal tnt tax re rc- re- re ision vision The Sun SUll and New York Herald has bas the following follow- follow I ing Senator Smoot Utah generally considered re the tho best hest Informed senator on questions of finance said sald today that lie lic had a plan of s sales es tax prepared but had no i Idea luca ea of to 10 get It enacted by this Congress It would be useless and worse he said eald The President President President dent would veto eto it and it is to worry and agitate hu business by a consideration of such le legislation when results are impossible We e cant can't do this until we wo have e an Executive e that will 11 operate co-operate with us If it is known in advance l that the tho President would eto such a bill and that it could not ho bo passed by a requisite t two thirds wu-thir wu s majority of both houses it would bc be discouraging of course to spend the time of Congress Con Con- gress in the preparation and passage of a new tax law Yet in view of the fact that there seems to be almost no dissent from the proposition that the thc present law an and especially the excess profits tax provision should bo ho done away with as soon as possible and in iu view of the j of Secretory Houston for the need of rearrangement in the tax schedules to encourage say sav- iuga and reinvestments and substitution of a flat ta tax tu for the sliding scale profits tax tho impression has obtained ob- ob that it might bo be feasible for the Co Congress and the President to come into agreement on some practical worl workable able plan The federal trade commission is on record against the profits tax ta also In answer to the argument that tha the thc profiteers pa pay the thc profits tax x while everybody pays tho the sales tax the trade commission declares that the profiteers rs do donot not pay tho the excess profits tax ta at all nil they are arc merel merely made the collectors through whom it is piped into the treasury and they swell the prices of their goods and services enough to make the consumer pay ay it several se times over oer It It is noted that Representative Fordney of Michigan Michi Michi- gan gnu chairman of the House ways and means committee stan stands s squarely with ith Senator Senator- Smoot in favor or of the thc tax sales plan and it is noted further that conferences are areto areto to be held in the future to study the whole matter in detail which is reassuring Persistent agitation of or the subject in an any event ent is better than delay on the tho that constant dripping of a n drop of water will wear a channel in n the hardest stone |