Show Those Hidden Hid en Insul- Insul Insurance ance Taxes tor gettin getting a The tax cOlle collector is industry that is as i stranglehold on an n absolutely essential l 1 to our industrial progress fire insurance an n According to A Avon A von Thaden of the United States Ch Chamber of Commerce our population has ha increased 33 per opel percent cent in the th last 20 years our national income per cent cent and fire and marne mar mar- marne marne ne insurance premiums per cent Yet in the same p the taxes p paid id hy by five fie insurance companies have hav ris n per Der per cent Sir Mr Ir von points out that the fire insurance e tax which is is es- es especially especially es especially paid entirely by policyholders unjust This This tax lax is similar in effect to one ope levied on the gross turnover of any other business Should our tax c collectors take thre three or four q per iper r cent On n the gross sales of cf a mercantile centt t business business or on the average deposits deposit n a bank there would be an immediate diate wave of pro pro- probst protest pro fast test Yet such a tax ax is levied against insurance policies and goes unchallenged unchallenged unchallenged duo dUG to lack of f knowledge on orthe the part of the pUblic p that it is being be being be- be being ing taxed in this manner Taking one state as an example in 1928 the assets assel of the insurance com com- companes companies companies panes doing business there totaled Their premium income 2 of which they paid r 10 n n n taxes In contrast ti to r this the tho state stole b had assets ass ta of and an paid only 2236 2230 in taxes Iii In I short banks with twice the assets df f the insurance Com corn panics paniC P paid d but 36 per pea cent o of the tax borne by iy in insurance This is not to tax banks unfair unfairly an argument tos tOI but to show th tha inequitableness of the insurance e pr tax Industrial d development v Wa wages es all the home building all aH employment factors which contribute to American Am prosperity are dc dependent on insurance Industry Industry and individuals d double should not be penalized with taxation because they are thrifty thrift and cautious to protect their Prop prop- property erty T IT or nr add to r their heir bank savin savings s |