OCR Text |
Show U. S. INHERITANCE TAX" DECLARED , HARMFUL It Pronounced Wicked DU- criminatioa AgainiLWi d- owi and Children. Tha California Inheritance tax rum up to 10 per cent. . Nevada goea up to, 2i per cent. Whlla thea ara tha extreme ratea. all but five of the at a tee have an Inheritance taa of eome aort. Theaa lawa ara ao drawn that It la common for aa-tatea aa-tatea to pay Inhcrltanca taxes to two different dif-ferent atatea at full ratea on tha aama property. The eatata of a reaidant of California Cal-ifornia ronaiatlng of aharea In a Nevada corporation might have to pay So per cent ff IT vV-rt IT ,,l''"r"1 Mi n l"-r tff L( to NevtidM. a totMl v( per t enl. -o Hoeton Newa Bureau Twenty yenra mgo Inherltaure taxation tn tha frilled Hie tee waa atmoat unknown. un-known. Where there waa any It waa Insignificant. In-significant. A dien yeara ago tt waa aelsed upon by atatea all over tha country coun-try In rapid aucceaaion aa an Important . aourca. o( state revenue. At firat many atatea went to extremea both in ratea and in double tasation and worae. Ki-treme Ki-treme ratea proved aelf-defeatlng. and were rapidly being mrtlfled. and double taxation was being eliminated by reciprocal recipro-cal legislation, when In September. I!l0, congreas threw In a bombeheil bv enacting enact-ing a federal estate tx. superimposing It on the state taxes The rates then imposed im-posed were verv substantial, and In many of Ita details the federal law surpasaed in severity anv state legislation. In March, 1917, the ratea were Increased 50 per cent, and a further large tnrreaae was made In October. 1!I7, resulting in more than doubling the original ratea. The present revenue toll as It has psssed the house for the third time in two yeara has given the rsles' another targe boost, fixing them at 30 per cent tu 40 per cent, according to tne ane of the estate. es-tate. If this bill becomes a law. there ts a possibility that the combination of federal, fed-eral, California and Nevada taxes might take & per cent of a man a proierty on his death, with nothing to prevent any one of these tases being Increased the remaining 5 per fent (or even more) at any time. The Inheritance tai alone of all current taxes Is a us that confiscalea the principal princi-pal Itaelf. All the other taxes rest on income or distribution. Anv general scheme of taxation eon fie -eating the capital of the country would be suicidal. The goose can be served for dinner once, but that enda the supply of golden eggs. To confiscate by taxation the capital posaessed by the limited number num-ber who are unfortunate enough to die during the war Is Just as vlcloua In principle prin-ciple and a wicked discrimination against a few wtdowa and children. In any consideration of tax rates It must be remembered that a capital tax of 1 per cent takes aa much as an in come tax of 20 per cent. So the house bills maximum Inheritance tax rftte of ' 40 per cent equals an Income tax of S00 I per cent. Under the present house Mil If a very rich man dies during the war. his family fam-ily muat pay to the federal government alone (quite ai-art from atate and local taxea) in the year following hia death, j a normal tax of 12 per cent of the income ! of his eetate, a supertax up to 05 perl cent of th Income, and an estate tax ! ' quarTo no per-rent nf tha tncome. Could the Bolshevik! do worse? The pity of It all Is that the estimated revenue from the tat la relatively so smstl. slightly over $100,000. 000 of the ).. OOO.OOO.ooO. and there are so many comparatively unobjectionable sources of revenue, such aa the atamp tax on checks, which have not been drawn upon. SAN rftANCISCO QUOTATIONS, ".a tiger Bros., brokers. 19 nouih Mala street, furnish the following quotations, received over their private wires: OOLDFIKIsD DISTRICT. I Bid I Ask. n 1 Bid I Ask. Atlanta . 2 3 I Una St I 2 I..... Booth ... : . Merger f 1 5 Hlue'Btill 1 2 1 Sp head 1 COP.. 1 1 j Sil Pick I , Com Fr . 1 3 Ye Tig 1 Palsy . 3 ! Si utm 1 Pla B B 1 2 . Kew's . 2 2 Florence 9 1 ti Bend 2 3 f.df Con 20 2i ;dtn .. 2 Juin Kx . 9 :i . MANHATTAN PISTR1CT. P Union 2 M lilory 1 O Wedge 2 1 Must g 2 Man i nn 2 1 W Cap It Man !eg 1 sCr Jack 5 COM STOCK DISTRICT. Con Va 7 9 nUn'on ..110 I HAN.. J H Merg ' 3 , Mexican 13 14 Neniel .' 1 ...... Ophtr ...t 7 R Hills t J Savage .-' 3 Divide . Xbt 157 4 8 Nev ...14 5 ;i ,," 1 TONOPAH plSTRICT. Caeh R.I I L....MIS Kxt 1 I O Queen 1)3 ' McN'a 23 J Butler i M '.. A..1N0 Star ! Midway .! T I S ' R-Kula ' 0 M ! Kxt 13 14 ( Ton Kx U42- it, Mont 1 J 11 1 W F-nd ! 100 OTHKR IMHTRUTB. Nev Hills I 2 I R Mines 32 Rd Mt 1C I N J ack to O Nellie I 2 Ii BOSTON CURB. Badger Rrna.. b roe ers. I South Mala street, furnish the following quotations, received oer their private wire: I BiC I A eked, Bmronlrfcrtntana 1 4! 1 47 Bow on Kivttw. t 1 I1 Chief Con. ..T-Vg. j ' 3 Cfn. Copper . . .TS-. . . .. .) i. Si Pa via Paiv ixs..f 4 f, l-gle A Blue Bell . . . . L ?V '-'x Mtj-stic 'Svslfl ' Nevada Poiigla ..... ..' sj New Baltic . ' vl T ?i S' aw-Cornelia 14 I . hl5 Copper . I 4 l, U. Verde Kxtenslon ...J 24 3 Jerome Verde j U 44 f-art Kagle ? J ?i- Iron Cap 10 I IO1 CHICAGO PROVISIONS. By Associated frse- rWH'AOO. Or. ft Sasf-I ftswjal rraawry -ew Hisw rira. 'wsa wrtfwr hma SMT SV. al Mara aaaaa snwM e4V r-aatfea Hiw U tart W'raaakMa 94'. Pafcraia SaA fl --eia Sa arfta fl ri.S W w Ma iwSi llfWie mm mjmt. MM:- . Paa.tir-a.it- Ssainis Vmsj M4. MniMS i |