Show UNDERWRITERS LAUNCH FIGHT IGHT AGAI AGAINST ST I TAXATION OF INSURANCE COMPANIES The question Qu of or the taxation of ot Insurance Insurance insurance ance companies twill Avill be decided in con connection connection with the consideration of at life Ute Insurance laws and the establishment of at a state insurance department by the next legislature The underwriters have already started a determined fight to prevent pr vent if It possible the taxation of ot insurance companies and the follow tollow following following ing statement was issued yesterday esterday on behalf of ot the local underwriters underwriters asso association association association The next legislature will be called upon to consider life lite insurance laws and the establishment of at an Insurance ee department Among all the important questions will be that of or the taxation of or insurance companies or In other words the taxing of at policyholders It is not too early earl to Invite at this time the att at attention attention t of ot not only every lawmaker but every holder of ot a policy volley to this question and a n few Ideas are advanced at nt this time for consideration John Stuart Mill In his Principles of or Political Economy says that a tax upon life lite Insurance Is a direct discourage discouragement ment of ot and forethought Mills view is practically accepted by McCullough who states that such a tax discourages s that providence pr and fore tore forethought forethought thought encouragement o I ought to be an object with all aU prudent gov governments governments and seeing the vast rast ast Importance Importance Importance tance of ot Insurance It may well be doubted whether It ought to be charged with any an duty however r slight Processor Pro of at Yale Pale university university university sity a specialist on the subject of ot life Insurance In concluding an exhaustive review on the subject says W Wi conclude then that taxation of or life lite Insurance assets asse and premiums is wrong If It it Is wrong tho the taxes should not be levied These expressions of ot tho the views of or persons who have given ven special study to this subject harmonize with the opinions opinIons opinions ions of oC all authorities we ve have found who have gone below the mere sur surface surface face tace of or the question No person who has bas taken the trouble carefully to con consider conI I sider the real objects and md purposes o olife of 01 life lire insurance the high sentiments that move the tho insured to carry it ft and the effects of ot such taxation on the cost of ot life Ute Insurance or on the amount of ot in insurance Insurance insurance In torce undertakes to Justify it With one accord well Informed peo pen people pIe condemn it They a rr ree that its very every existence Is attributable to a mis misunderstanding misunderstanding misunderstanding understanding of ot life lire Insurance and of or orthe the true meaning and effect of ot the tax supplemented by a desire to get money for tor the revenue wherever the money can be gotten without much regarding the right or the wrong of at the thing If It a premium income tax did not cor correspondingly correspondingly correspondingly Increase the cost of insurance insurance ance or reduce the amount of ot It and if It could be Justified on any ground around yet et It is to Impose this tax on onUte life Ute Insurance alone and the rate Im Imposed imposed posed is excessive The man who pays a premium upon a policy poU y providing a death Cath ath benefit b for tor his family must surely bo be given credit creditt t for or being ly unselfish for tor he knows th Chit t h he wm will not n t profit by it himself and nd that he will not be present to see his I I o D loved ones enjoy the fruits of or his un unselfish unI unselfish I selfish I devotion to their re Why should the state tax tar ax this man manfor F for his most worthy and commendable act in guarding his family from misery and want Gant after atter ha he had h d passed away away If this Is a fair and honorable thing o to todo do would it not also be fair taIr and honorable b to demand a ap portion of ot the contents COf te ts of at the theco contribution boxes at 11 s wr tr churches for tor these offerings are aret t fl alien ten t n ted for tor the benefits of ot the ahe ti 1 C a c b a f fa ff a S sick and injured In the hospitals and for tor the widows and orphans as well as asfor asfor asfor for other benevolent purposes This tax Is often orten referred to as a tax upon thrift and so it is But it goes g es farther than thrift It is a tax upon calamity Human misfortune and sor sorrow sorrow sorrow row are made to pay tribute to the state treasury It is true that the tax gath gatherer gatherer gatherer is not at the bedside of ot the sick or Injured or of or the dying demanding for tor forthe forthe the state Its calamity tax It is col collected collected collected in advance from the premiums If this money must be raised for the state by a penalizing tax why not col collect collect collect lect It from the man who falls tails or re refuses refuses fuses to provide protection for tor his de dependents dependents dependents instead of or from the man who performs this humane and Imperative duty dut In Utah it Is hoped that the quest ques question tion of or right and wrong may be care carefully carefully fully ully weighed and in the radical en endeavor endeavor endeavor deavor to create revenue some other reason for taxing life ure Insurance should be advanced ed than that we need and must have the money A glance into the real conditions will develop the fact that the cost of ot the maintenance of at the present Insurance machinery machine in the state is but about 2000 annually while the annual revenue received is nearly It Is felt by those interested that to Increase the tax tac for tor the present 1 IW per cent to 2 per cent as proposed at the last session of at the legislature would be an act of ot Injustice unequaled In the history of or state legislation |