Salt Lake Telegram | 1931-05-14 | Page 2 | Sen. King Joins Move to Boost Income Taxes

SEN KING JOINS MOVE TO BOOST INCOME T A X ES sen l V WASHINGTON ASHING May y 14 P Sen IP-Sen- Sen Senator ator King of U Utah ah a Democratic member of the senate finance committee committee com corn today Joined senate Republican can independents in urging higher income taxes on the wealthy to help balance the government budget The westerner who is preparing an increased tax bill also agreed aRleed with Senator Couzens Republican Michigan that the gift Ift tax should be restored and called for a material raise In tn the federal estate tax Couzens Couzens Couzens Cou Cou- zens al also o has d demanded increases Inthe in inthe inthe the higher income tax brackets along with Senators Borah Idaho and Norris Norris Norris Nor- Nor ris Nebraska Republican dents Kings King's proposal was wag out of line however with Ith those of or other senate Democrats including Senator Hamson Harrison Harrison Harri Ham son of Mississippi the ranking mm mt- mt member of the finance com corn committee committee who believes cs the treasury deficit should be met by slower re retirement retirement retirement re- re of the public debt The Tho Utahn said he believed the thc next congress would be compelled to seek additional revenue I feel sure he added that be because because be- be cause caus of ot the present deficit and the extravagance ot ol the administration there will be another deficit next year It seems to mc me then we either must continue borrowing or reduce expenditures tar far beyond the plans of ol the administration or increase taxes He predicted there would be no material material material ma ma- reduction in the budget next year ear despite administration efforts to cut expenses to th the bone and said the tax bill should be increased by bj several veral hundred million dollars donars Taxes already are burdensome he said but unless federal state and municipal expenditures arc are cut sharply the burden will become in intolerable intolerable in- in tolerable Kin King listed the existing aggregate federal state and municipal expenditures expendi expend tures at and said this is a burden so heavy as s to be an obstacle to a revival of business While tax legislation must originate in the house King Is prepared to substitute substitute sub sub- his bill for any that might be Introduced in that branch and pa passed d don on to the senate