Show TAX A AMENDMENTS A DISCUSSED BY R E E HAMMOND I M TAX TAB EXPERT Mr Ir Roscoe Hammond of the State board of equalization and md also member w ber a mem- mem e- e of the State taic tac revision re corn com was s the speaker ker at i n meet meet- ing mg meeting of the club chili sons to which Thu day m ht the public w wis is invited His Ihs discussion covered etro man anan many pha phases phase ot of o amend thc our pr present ent State tax law 11 a and thc thc-l amendments to the State Constitution 1 u i wall vIl be toted ber November on at the No Novem- Novem election Th There amendments arc being ando printed eke eLew nere m in this and other oher her paper papers throughout the State voters and andare are north orth worthy of Ca careful refu 1 stud study study b by A According to Mr Ir Hammond the in- in intent tent of the amendments toa-ii toa is NOT to butTo o-ai o e c greater amounts of taxes eg but to adjust the tax ta burden more equit- equit equitably ably ll on t- t t b by on l ta lr property Jt t VOW O R AOH D He stated that J S on per cent of o our State taxes es l-e l a p a don d on tangible ble e property su su-h su uh h as real leal estate and our our improvements our farms aryls mmes mines 1 veSto k and Improve Improve- ment improvement improve thereon while thereon while income from t these e constitutes about 10 per iper cent of our wealth C 2nd that the other 90 per tent such as laS income from fron stocks bands mortgage le credits s salaries lane d ct which is as g bl ble property r is not bem being ta taxed ed for tl-e tl support rt of oui Stat State gos gO government I ilie lie He showed how it 13 pass ph p a ole for a gierson on to enjoy a large in the form of interest dividends and salary and nd by living in m rented quarte quarters an ani i I Y no real estate otate to escape Ith with only a tax lax on his is auti m and furniture while lule enjoying all tle c benefits protection road roads road's schools School etc at the expense ot of others who are le les able to pi pay If If the amendments amendment's arc passed It Ith iti h i pro proposed Oed to subject income on m intangible tan tangible property to a la tai ta on eIther an income basis b or a levy ley le y which would woud be lower than t that on general and to o 0 reduce leduce th the leon levy lev le on tal tarp be props tv such sun as our houses I farm et e by in mount corresponding ing to t tha taa r t l on intangible the to t alc alai aled tat ba ta coll colleted collected ted b by the ite St State te would not be but hut re I burden of ta t ing a is 1 mg would n be more moree e enly dl Air Mr Hammond favors i a State m- m income m I mI inI come ta tax Lw 1 for Ut ih h similar t to toi j I Inow Jao law a now in successful operation in twenty states of the Union Umon I This is 15 based d upon a taxpayers b ability to 10 pay rather thin than upon the I value saque of property which owned which mayI may mayor I or may mav ma not be Inc income me producing It would probably require single III per persons to hie the income tax returns If their income Income- exceeded 1000 1000 and mai- mai ned mai-ned TIed ried persons on 2000 A credit of about would be bc allowed for each Coach I child or dependent pendent The t t-ix t would appl apply on income above these e I lions and credits at 1 per cent on the first fiTt t 1000 2 per r cent on the thc second secondi I 1000 etc tc to a ma maximum of 6 G per percent percent percent cent This would could mean that i i Single I pcr person on without dependents dependent hat hn having m ing an i income of 12 per month would Income tax ta- of 00 per year veir r I Mir n ned l couples with one dependent would hale e e exemption and credit of 2400 an and would not Pay state income tax the income exceeded 00 per month Thus This is similar to the pros pro ision of the tho federal fede income ta tax e except that the personal e e c I Is lower is said to HC 16 pct pel cent of its taxes tC t C on an mc income mc tax of this sort In Oregon the State income tax e exceeded more than tWIce the amount expected during dm ing the fist firt ear of its It operation There ate aie six si amendments to be voted upon at the coming electron Three of these deal with taxation ta Tile Tie first pros porO Ides for a change in inthe inthe the thc Stat State Constitution to permit taxation tax atlOn ot of intangible property The second e ond pros Ide board of equalization w fv th some changes in m powers power JO en The third amendment deal deala deal wIth w h the ta tax tax- taxation tax taxation atlon of mines Beside aide amendments on tax tax- taxat tax taxation Iton at on are ale three others which provide fil fiat t for the filling of v v in inState inState State legislature re second removal remo of I the State and ind third for forthe bie equalization of school reH revenue nue The an am Ir al are aie e of vital m in interest tere terest t to all ta eIS andre and ire are mat mat- mattel matters mat teis tel upon which voter oter should thoroughly inform h es |