Show FAVORS TAX ON CORPORATION EARNINGS Special Message to Congress in Which Chief Executive Suggests Pl Plan n. n for Raising Sufficient Revenue ij Washington Thc The message of or PresIdent President Pres Pres- ident Taft TaCt to the senate on Wednesday Wednes day recommending the thc Incorporation of a provision In the tariff bill for tho the taxation of the earnings of corporations corporations corpora corpora- and anti the adoption of a resolution looking to to an amendment to the constitution con on to permit the levying of or 0 an Income tax without Interference from the courts was regarded by senators as ns of such suh importance as to place In Inthe Inthe Inthe the shade all an questions pertaining strictly to the tariff schedules The president In his message speaks of the apparent Inability of or congress to agree to an inheritance tax and as regards an income lax tax he refers to th the decision of the supreme court In the case of Poll Pollock ck vs VB the Farmers Loan Trust company In which the court held the t tax x to be unconstitutional unless apportioned according to population It lt Is says sars' the president undoubtedly a power which the government ought to have It might be Indispensable to the nations nation's life in great crises The amendment suggested provides 3 for the imposition on all corporations and joint stock companies for profit except national b. b otherwise taxed axed savings bank banI and and loan Joan associations of or an excise tax of or 2 per cent on the net Income of said c corporations The president points out that an- an merit to the tax on corporations corporations corporations corpora corpora- is the federal supervision which will give to the government government- the stockholders and the public knowl knowledge edge edgo of the real business transacted |