Show TAKE 1 0 PER CENT OF I 1 EACH MANS MAN'S COIN EXPERTS EXPERT'S F PERT S PlAN I That Would Pay Up at Once Americas America's Huge War DebBy Debt Deb By H. H P. P Burton NEW YORK Nov 11 11 Declaring Declaring that the present Income income tax Is greatly in increasing increasing increasing in- in and placing I creasing the cost of living undeserved burdens on the tIle poor while not costing the rich anything Ilk like a proportionate proportionate proportionate pro pro- I Inot amount in the final analysis Theodore Price famous American financial financial finan finan- cial expert came forward today and demanded demanded de demanded de- de a new national taxation system This system he says should be built around capital instead 01 of a It tax levied on an income as at present Tn In a n forth forthcoming j i issue ue IH of hi his paper r Commerce and Finance Price will say on the subject The time has arrived ed when some re revision revision revision re- re vision of the income tax law ought to be made It is greatly aggravating the Inflation in inflation In- In and materially increasing the cost of living In order order to recover the tax that must be paid to the government ever everyone o is demanding a larger profit on hi his goods a bigger price for his property property property prop prop- erty and higher interest rates rate on his nil tip cap ital The rIle word has been coined coiled to describe the result COSTS INCREASED The income tax has been pas passed ed on onto I to the consumer and he in turn has to ask more for his work so adding again I io to the cost of or production and the cost of r I living i There is a great deal of ot building and I constructive work that ought to be clone lone I II II Io In this I country It t is held up because those o who I gu own the real estate ta required 1 wont sell It oven oen at the high prices of offered offered of- of because they would have to pay i most of the profit realized to the government gov gov- In rn In the stock market securities have hav advanced to figures that are In many cases absurd because the larger capitalIsts capitalists capitalists capital capital- cannot dispose of their holdings without Incurring an Income tax liability that would absorb most of their gains I The theory upon which the tho graduated was imposed assumed that it was possible to take from the rich without without without with with- I out mulcting the Impecunious but the re result result result re- re sult has onh been to make capital inert and so restrict enterprise and opportunity opportunity while increasing the cost of or living for the poor NO BRIEF FOR RICH I We hold no brief for the rich and think they ought to pay a higher rate of taxation than those who have ha less but we are coming to the conclusion that a a. tax on capital or property is to be preferred preferred pre pre- fe dg to a tax on Income I Iday af Ns A great c capitalist ns said l eio to us the other day that he would be glad to surrender 10 per cent of his wealth to the government government government gov gov- at once if he could be free of the inquisitional income tax and we are inclined to think that there are many rich men who feel the same wa way TAKE 10 PER CENT In 1914 1911 our national wealth was estimated estimated esti- esti mated at Measured in dollars r ISi of the S Dres present nt value it is probably probably proba proba- bly Our national debt Is about Even if tf the relatively rela rela- Impecunious were exempt a 10 per SenJ cent taS tax upon P property Perty would pay this debt reduce the Inflation and enable us to start again with a clean slate Germany has Imposed such a tax tax England England En- En gland Is thinking about It it Would it It not be well for tor us to consider it It ItIs The tonic r effect of ones one's debt Is wonderful d |