| Show TWO Tv PHASES I OF TAXATION T There Tre re are two a as s in which taxation may ma mav become confiscation First bv by increasing public debt deLt and expenditures to point here busInesses and individuals arc are un unable unable unable able to pay to pay to where e all profits vanish into hands of tax collectors Second by lowering lo ability of Industry to pay tm through ough govern governmental governmental governmental mental policies which stand in the path of e expansion development and the attraction of private capi- capi capital capi capital tal Gov GO federal state county municipal IS 13 now guilty of both counts B By Bv the end of oC the fiscal sear ar the fe federal debt will have ha broken all records Most 10 local c cI I govern governments el n ments are arc in the same po position s as the federal That 1 is the tl taC situation so far faris faras as mounting costs arc concerned Flom the stand point of ing In- business the vista is little bet better better I ter Hundreds of millions million of 3 have been ben spent in putting gov govern government rn ment into competition with Ith ate industry industry-industry industry that pays taxes el elto to maintain thus le Ie lieving the individual ta er of ofa ofa a greit relt ta tax load he would other other- otherwise otherwise wise have to carry Hea Heavy Heay y property trees tl cs at nt a time when hen the national n income IS about 50 per cent under the peak hive hwe been the direct duCt cause cau caus of thousands of home and mortgage gt foreclosures States counties and cIties have hae ha e take title to property which is now idle and produces no further tax revenue 1 The he pl- pl pl ho once owned it simply not pay Reco Recovery ery plans ire re threaten threatened d with th failure b because buse use of climbing taxation with sith Ith me inevitable dIscouragement discouragement discouragement of investment Ime and employ employment employment ment unless there is tax relief |
