Show t. AF I c. rJ Increasing ung Interest J I oJ rHE fHE I II Mellon tax lax plan is designed to o bringS bring r reduction load of the S S I a material in the tax ax e average American It how however ver goes further 5 r fin 1 that it encourages encourages public interest in in a gova governmental gov gov- a oI problem Discus Discussions of the Mellon MellonS plan ari and t they ey have become ec general cannot S Z fail to give the he public a gr greater ter appreciation appreciations Public apathy isS is s f f- f current tax ax problems problems' S of fth the failings of f our our pe pe people pl pl In so far as s j taxes are concerned this as s being gradually shaken off by a discussion oj a subject w which ich Q Jj lias s been more or less i ignored in the past ft t Whether the current current- interest in the tax problem m is to be attributed to the he excessive tax J load to or-to the golden promises of the of-the the Mellon plan pian is difficult to say One thing is certain in t however and that is that more p people ople are in interested in- in I. I t in the t tax ax problem than ev ever r before I In This is as it should b be for forno no one ever quite escapes capes taxes notwithstanding the fa fact t that many have found a haven in m ta tax exempt exempt 4 securities ur ties A general understanding nd rs n ing of public I problems is bou bound d to tp r result sult in m correo correction l n n of l the nhe ills which exist S 5 r It is estimated that the Mellon plan will save the ta taxpayers payers of the United States 23 a year an item worthy of tion ton The most of this will go into productive S enterprise serving to encourage rather than retard retard progress The importance n nce e of this c change rig is given added significance when n it is L' L understood that the benefits accrue chiefly to toS typically salaried taxpayers S 5 The benefits fits of the Mellon plan how however ver do not end here Lower taxes work for lower living costs r resulting in other savings The S proposed sed reduction tin in the surtax rates are des designed de de- de- de s signed to make mak for greater activity and greater S 1 prosperity Under existing rates initiative and 1 industry i are r penalized because men of means are te re c compelled to invest their money in I l tax tax exempt s securities This is established f i government figures In 1916 t there tere er were 1 taxpayers ax ayers who reported incomes of more t 5 n n 1 In 1923 there were but bul 5 1 thirty In 1916 reported incomes of ol I Jf i m m to In 1923 tI there were but 15 o. o Incomes of from pp 00 to dropped from in 1916 1916 t to in 1923 1 5 The rohe reduction is not to be attributed d to a aS S change diange ange in the number of holders of great 1 is but to the increasing popularity of tax A exempt empt Pt securities Under the M Mellon lon plan it to bring this capital out of hiding and andI tl at put it to work enterprises and projects iJ J ich will make for employment nt and tInd nd general I activity ty So Some Sohie people people ur urge e prohibition of tax L 1 exempt securities but it is to to be remembered doof this cannot be accomplished without a at t S v V constitutional 6 amendment which would entail t delays d lays aggravating the condition The MeS' MeS Mel Mel- S' S I plan is designed to accomplish the same without result ut the delay to be encountered in changing the constitution f. f |