Show TAX EXEMPTION FARCH MUST END will congress adopt secretary mel aid ions program for tax reduction which includes n reduction in income tax and an d tho the doing away with tax exempt bonds tho the president and tho the people are in n favor of tax reduction the politicians through their blocs and parties in n congress are arc pulling and hauling to try to gain personal pr prestige through delays and log rolling in tho the tax lax reduction program A constitutional amendment to do away with tax exempt securities pas sed tho the house of representatives last winter but died at tho the expiration of congress it is now to pass pasa it again this all takes valuable time and the waste and cost resulting where public officials play politics instead of expediting tho the business of the nation at the present time it is estimated that tho the income from approximately in capital invested in government tax exempt securities escapes all forms of taxation 71 the ie fact that cities counties states and nation can issue tax exempt bonds drawing I A low rate rate of interest has caused a reckless increase in public debt and has furnished the loophole for billions of dollars to escape taxation after an amendment to the united states constitution ls passed dormitt ing tho the taxation of income from fut ure issues of public bonds it will be for the legislatures of the various states to ratify the measure for this reason quick action in congress is essential in order that state legislatures which are in n session or which will bo be in session in tho the near future may bo be able to act on the men mea sure and if possible put an end to abt tb pro present sent obsolete system wal which ich is an invitation for the reckless piling up of debt on ono one hand and lawful tax dodging on the tha other hand atwould seem as if republicans democrats and progressives Progress ives would le be on common ground when it comes to a measure of this kind which would as in the future that every person would pay his sham of income tax also it would fissure that instead of private industry being charged an interest premium in order to secure money to maintain tho the payrolls and progress of the nation it could got get money cheaper with resulting reduced costs to consumers all down the line the people want tax reduction hero Is a logical method to secure it by taxing future income acome which will bo be untaxed if allowed to hide itself in tax exempt securities Is it not pos s ae for congress to cut out politics id and get down to business on this measure |