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Show PBESIDENT FAVORS TAX ON CORPORATION EARNINGS Special Message to Congress In Which Chief Executive Suggests Plan for Raising Sufficient Revenue. Washington Tho message of President Pres-ident Tnrt fo tho sennto on Wednesday, Wednes-day, recommending tho Incorporation of a provision In the tarlir bill for tho taxation of tho earnings of corporations corpora-tions nnd the adoption or a resolution looking to nn amendment to tho constitution con-stitution to permit tho levying or nn income tax without Interrerence rrom tho courts, was regarded by senators as or such Importance as to placo in tho 8hndo all questions portnlnlng strictly to tho tariff schedules. The president, In his message, speaks or tho apparent Inability of congress to agree to nn inheritance tax, nnd as regards an lncomo tax ho" rcfora to the decision or tho supremo court In the case or Pollock vs. tho Farmers Loan & Trust company, In which the court held the tax to bd unconstitutional unless apportioned according to population. "It is,' says the president, "undoubtedly a power which tho government ought to havo. it m'ght bo Indispensable to the nation's llfo In grent crises. Tho amendment suggested provide for tho Imposition on all corporations and Joint stock companies for profit, except national . bnnks (otherwlso taxed), savings bank nnd building and loan associations, or an excise tax ot 2 per cent on the net incomo or snld corporations. Tho president points out that another an-other merit to the tax on corporations corpora-tions Is tho redernl supervision which will r.lvo to tho government, tho stockholders and tho public knowledge knowl-edge ot tho real business trnnsnsted. |