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Show Placing The Burden j Diver.se proposals for remedy follow announcement that; the United States treasury faces deficit. j Senator Bingham suggested that taxes be increased by reaching hundreds of thousands oil "little fellows'" now exempt from paying. Typical of the working of the political mind was his argument that the inclusion of these smaller incomes on the tax rolls would cause more "pressure on congress" to cut down appropriations so that expenses would be reduced as it' the big taxpayers don't howl loud enough. Senator La toilette's group of progressives made a counter suggestion that taxes should be levied according to ability to pay and that MORE little fellows should be exempted. The Herald believes that high incomes should be taxed at a higher rate. But we cannot vote to confiscate these incomes by unreasonably un-reasonably high taxes, as England has done, without crippling industry. Such looting measures are very short-, sighted. , 1 Nevertheless, there should be a graduated scale, graduated gradu-ated all the way up to incomes of over .$10,000,000, instead of the present scale taxing the smaller business man heavily. The millionaire deserves no tax cut, but smaller business and competition will be stimulated and the hard-pressed man helped if exemptions are made more generous and the taxes reduced here are made up by higher rates on the many gigantic fortunes in this country. |