Show l TAX EXEMPT EXE AX-EXE PT SECURITIES IES c 1 J B ByL A. A fI I J ecI 1 1 a Another r. r constitutional constitutional 1 amond- amond ment ment was was voted upon In congress the other day clay dayto to tri to tax tax-exempt tax securities or ponds Donds that are free from taxation The object is to tax government f municipal and other bonds and possibly y mortgages mortgages' on loans loan procured by fa farmers ers on on I their ranches ranches' There Thero has been 9 L lot of propaganda n da to tax lax the tax exempt tax e empt sIt looks well at first blush but when you come to think it over carefully it doesn't look so well The proposed proposed proposed pro pro- posed amendment was was was' beaten b It is well even though many of th the big daili dailies s ar are lam lambasting asting congress for beating it We Ve have about enough of these thes constitutional amendments lately They want to have a constitutional constitutional constitutional divorce law and a uniform law in everything so that man cant can't 10 think or a act t without asking the Federal government Just as well stop it What do we we want to concentrate concentrate concentrate con con- all power at Washington Washingto n 1 I Ifor for The taxing of ot exempt bonds won wont t help us It will damage us City i and state bonds would have to have havea I I a higher rate of interest so that the p people eoPle would pay for taxing th the bonds and not the capital Inv Invested sted and the fact that the bonds are exempt exempt ex ex- empt from taxation is cutting down the peoples people's taxes We never use used d to hear any complaint The The reason n was because before business was wa s heavily taxed on Its incomes business business busi busi- ness men preferred to enter bI big business and get big profits S Sine Since nce e big business has to pay the most o oits of ot f Its big profits to the government i it t discourages enterprise and energetic ic people instead of making th the tho wheels of industry hum so that they the r can make profits when the government government govern govern- ment meat takes most of the profits s simply sim simply ply put their money into low Interest Interest Inter Inter- est bearing bonds bands TheY Their Their-do do it unwillingly unwillingly un un- willingly but are forced to do it ft simply because because- what is tho the use o of f working their heads heads' off fo for the sole soh l purpose of paying nearly all of i It t out to the government There i Is s something wrong If the bonds ponds ar are taxed and the great t tax x on business s Is not cut down it will force th the money into foreign co countries Le Let to the great taxes sur-taxes be be cut down c and that will Increase the number o of f business ventures greatly The government gov government O will get as much or more more money oney because although the ra rate e will twill be less there will be more business bustness bust busi ness enterprises to tax That will wil 1 leave the bonds without tax an anthe and d the people will have less tax in ti th de e form of interest to pay The writer is g getting tired o of f ever every crank in the country wanting g to to change the constitution ever every y time ime he sees something that h he thinks is wrong Let the constitution n lone for awhile and it will be better better better bet bet- ter f for r the people 1 |