| Show a i I i n 9 0 Opinions P i ion s J Hot Hof Potato A recent Washington dispatch apparently inspired by some enthusiastic enthusiastic enthusiastic en en- federal official declared declared de de- de- de dared p Work Vork relief officials have pointed their employment em em- nt drive toward ending federal federal fed fed- ed- ed eral doles once and for all aU by November 1 They plan to have some needy at work by that time and to force political subdivisions to provide for the unfit to take advantage of the job pro pro- gram So the government will end federal doles once and for tor all am After all aU of ot the talk fuss and battle the government is to find ways and means to take care of or the unemployed But some federal official can wave hla hi arms and command and the states will take care of at The federal government is about to find ind out that isn't the way things are aIe done The local governments governments gov- gov gov gov- do not have bave the money to take care of and they cant can't get the money The federal government adopted the policy of feeding every individual individual indi indi- vidual in the United States who asked for tor food and it will be up to th the federal government to find the means of changing the policy polley without suddenly deciding to wash its iu hands of responsibility It was the federal government that went up and down the highways and byways of oC tho the land Inviting people to come and get federal aid and urging those who knew of or persons persons per per- sons who might need aid to assist in getting them to relief head bead quarters These people cannot be told In a day or a week or a month that the end of at the dream of at plenty for tor everybody is at hand Particularly they cannot be told somebody else will take up the burden when burden when that somebody else lse doesn't have the power to go out an and 1 get the money to pay the bill An another thing Hundreds of ot thousands of ot aliens will be among mong tho those e who remain on public pub pub- lie lic jobs The so called will not accept an arrangement by which an able bodied alien gets federal relief and American citizens are told they will vill have to find a place on county indigent or city charity lists Comment of the American Press Press- Uncle Sam inaugurated the food for everybody and job for every man theory of government And Uncle Sam will find the buck cannot now be passed to some other public agency Relief in this country has been made a federal matter and the the federal federal government government government govern govern- ment will have to solve the problem lem lemit it has created The solution we are very sure will not be found in the simple in injunction injunction In- In junction to relief clients We are arc sorry but you will have to look to your local government San Bernardino Sun Farmers Buy Automobiles There is no reason for tor anyone to to be surprised at the figures figured quoted by Abner E. E Lamed Larned state director of the National Emergency Emergency Emer Enier- gency council from compilations by the Automobile Manufacturers' Manufacturers association showing that farmers who received A A A payments have been heavier purchasers of at motor cars than city residents I The main aim of ot the A A A was to pull the farmers out of a ruinous ruin ruin- ous condition caused by a lessened demand for tor their products They were also ald aided dby by other agencies of government which relieved the pressure of i interest and taxes Consumers of ot farm products were were- taxed to aid the farmers the theory was was that the money which went to the farmers as A A A payments payments payments pay pay- ments and as higher prices for tor their crops would flow into o other her industries since it was not money mone the farmers needed but the things money can buy Statistics now demonstrate that as soon as the farmer could cease to worry about his home his land and his tools he began to think ata of at ofa ofa a new car transportation car being one of his prime essentials This I is proved by the fact that the re regions regions xe- xe gions in which farmers h have ve been receiving A A A checks have patronized the motor industry more heavily than thos parts thos parts of the country where farming is not the chief occupation and 1 by the additional fact tact that the farms farm and nd small towns have been proportionately proportionately pro pro- heavier purchasers o of 0 automobiles than the large cities Not all the credit of or course should be given the A A A for the Increased motor demand but analysis analysis an an- of ot the statistics of the motor motor motor mo mo- mo- mo tor industry shows beyond a doubt that the divide the wealth as asi as- as i I of at the he A A A program has brought the farmers into the market market mar mar- ket for tor a asUn astill still wider division The money followed a course from consumer to government to farmer farm farm- er to industry to consumer It is the old story of ot the creation of ot pur purchasing power for one group making employment for other groups and stimulating their purchasing purchasing purchasing pur pur- chasing power Detroit Detroit News T Tax Exempt Paper Facts Investors having more than capital can make substantial substantial substantial sub sub- savings in income tax payments by buying tax exempt securities a situation which makes a strong case case for President Roosevelt's recent suggestion that the tax exemption provision be eliminated from all federal state and local securities by constitutional constitutional constitutional amendment This point of ot view is presented in the current issue of at the Governmental Research Research Research Re Re- search Bulletin published monthly month month- ly by the governmental research bureau Public finance authorities author the bulletin recites have long pointed point point- ed out that tax-exempt tax securities provide an important avenue of at tax avoidance under a net income tax at progressive Making Making Making Mak Mak- ing the assumption that a 5 per percent percent percent cent taxable security Is equivalent le lent t to a a. 3 2 per cent tax-exempt tax security as far as the elements of ot risk are concerned the bulletin concludes that Income on of capital invested in taxable securities would be liable for a payment of or M.-iB M. percent in federal federal fed led eral income taxes 1932 1032 rate with witha a personal exe exemption of 2500 whereas income income on on that same capital capital cap cap- ital invested in in tax tax exempt se securities securities securities se- se would be diminished by only 30 per pez cent The reason for this is that the difference between between between be be- tween Income from taxable se securities securities securities se- se at the 5 per cent rate and Income from tax exempt securities securities ties at the 3 per cent rate would Impose a penalty on the Investor amounting to the 30 per cent no actual tax being paid The study further reveals that Inv invested sted In taxable se securities securities se- se and yielding would be subject to a tax of ot or a rate of 4 48 8 per cent whereas the Income from tax exempt se securities securities securities se- se would yield but The difference between the two net incomes In being investment in i tax-exempt tax securities would in effect impose a tax of 30 per t cent This rate would be the same for all aU income yields from tax- tax exempt securities since It is the difference between the incomes produced at 5 and 3 3 34 I per cent respectively At a capital Investment Investment investment Invest Invest- ment of there would be belittle belittle belittle little difference in yield for the investor between taxable and tax- tax exempt securities State and local governments now resisting an any exemption of or their securities the bulletin points out might find it to their great advantage to accept such an amendment as is proposed because because be because be- be cause of ot the increasing circulation circulation circulation tion of ot H 0 O L C R F C and other tax exempt federal securities |
