Show Tax Laws of Utah t t Termed Utah's tah'S present tax laws are inadequate inadequate quate unjust incapable of enforcement enforcement enforce enforce- ment went make inevitable tax-dodgers tax liars and perjurers said Dr Charles J. J Bullock professor of economics at Harvard university who addressed address address- ed the Progressive Business club in Salt Lake But Utah is not nol alone inthis In Inthis Inthis this state of affairs the tax expert added for most of the states In the union are In uin in the same boat only a few of the commonwealths having baring enacted tax-reform tax legislation that thatis is equalizing the burden and producIng producing I ing good results Dr Bullock emphatically advocated advocat advocat- ed the approval by the voters of tho proposed constitutional amendment to be submitted at the next general election which amendment was prepared prepared pre pre- pared by the last legislature and which In substance provides for Cor the creation of a a. tax commission with power to levy an income tax classify property and make exemptions The proposed amendment he said is not entirely satisfactory in some respects respects respects re re- re- re but Its adoption would prove a long step in the right direction In In the state of Utah as well as asin asin inmost in most other states said Dr pr Bullock Bullock Dullock Bul Dul- lock there Is a system of taxation that is supposed to affect all property property prop prop- ert erty equally to reach all without discrimination and to make everybody bear his share of the burden burden burden bur bur- den but In Utah as well as in most other states it doesn't do anything of the kind Levying Ting Laws Dhows Unreasonable It is one of the faults of the system system system tem that the levying and collection of taxes is in the hands of locally appointed or elected persons and the tIle assessor who undertakes to assess property at its full value to assess moneys stocks and bonds and to enforce enforce enforce en en- force collection usually last one term sometimes not even that long when he runs into some fellow who Is quick on the Ule trigger It is folly to expect that people will pay a tax of 25 or 30 mills on the dollar on bonds that are yielding 4 or 5 per percent percent percent cent It would be suicidal from an investment investment investment in in- vestment viewpoint to do so nobody nobody nobody no no- body can be expected to do it and no noone noone noone one does It The result is that it makes citizens who have much money invested in bonds liars and perjurers not in Utah alone but In every state and country where such laws are on the statute books I As an illustration of the folly of attempting to enforce the present tax laws Dr Bullock pointed out that the assessed valuation of the moneys and credits in Utah was between between between be be- tween and when an ao a matter of fact he said the savings deposits in state alone were in excess of To put on the screws and honestly attempt attempt attempt at at- tempt to enforce the law as it stands ho he said would drive the Investors to Los Ang Angeles les or some other city with witha a good climate and a lower tax rate There had been the same I ty the same saUle lying and perjuring the same Inequality of distributing the burden in Massachusetts for many years he said prior to 1916 when tho the Bay state legislature passed passed passed pass pass- ed a law providing for a tax of 6 per pei percent percent cent on the tho Income from intangible assets The contrast in the former and the new regulations were shown in the fact that in 1914 the intangible ble assets assessed amounted to only only only on on- ly while in 1917 the record showed assets of A Taxpaying State From a state of tax-dodgers tax said the speaker we uwe have changed to a state of taxpayers There is comparatively little trouble or difficulty difficulty dim dim- culty in collecting the tax The citizens citizens citizens citi citi- zens who object to paying 6 per cent centon centon centon on the in come they derive from in intangible intangible intangible in- in tangible assets are indeed few Dr Bullock then discussed the proposed amendment to the constitution constitution constitution which if adopted lie hie pointed out would give the legislature power to levy an income tax to classify property determine the extent and how it should be taxed and to make exemptions Under the present system he declared Utah can go goon goon goon on with Its collection of taxes on In Intangible Intangible intangible In- In tangible assets as a complete farce and with property that cannot be covered up or taken away bearing virtually all of the burden There was a large attendance at atthe atthe atthe the luncheon In the absence of President Will H. H Folland Vice President David Affleck occupied the chair Professor ProCessor Thomas Beal of J the University of Utah Introduced Dr Bullock paying tribute to him as a tax expert whose keen insight and deep knowledge of his subject were recognized both in the United States and in Europe |