Show federal taxes willbe cu buchow auf Bu how T the he follow following ug article by senator reed need smoot giving his views on the cutting of federal taxes Is copied from the october number of nations bustness business the federal tax burden should be reduced by approximately budget figures for the next fiscal year do not justify going beyond that amount later on oil further reductions will appear possible but it would not be wise to go beyond in dealing with the tax situation now before us the reduction should be so arranged as to distribute the benefits along the line from the largest to the smallest taxpayer and including those who pay their federal taxes fixes only indirectly the maximum surtax rate should i and will I 1 believe be cut to 25 per cent personally I 1 should favor going below that figure say to 20 per cent but I 1 doubt whether it would be possible to get such a reduction through congress we must deal with the practical situation before us and I 1 do not believe it to be the course of wisdom to stand out for measures we know will be next to impossible to get there is much talk of raising the original exemption tor for the head of a family to on the theory that this would confer a direct benefit upon pon those of small incomes who make up approximately 90 per cent of taxi payers I 1 am opposed to this I 1 think everyone should contribute something in a direct manner manner to the upkeep of the federal government it f stimulates popular interest in the government Tern ment and makes the public more watchful of the way its money is spent the average amount paid by those with incomes of less than is so small that I 1 a am in sure there Is no widespread demand among them tor for relief I 1 however I 1 believe it will be possible to reduce the normal rates to 1 and 5 per cent respectively in place of the present 2 and 6 per cent all estate taxes by the federal cov government should be repealed and that source of revenue turned over to the states exclusively the so called nuisance taxes including the levies on automobiles and admissions admissions should be abolished the revenue they produce is not commensurate with the cost of collection and the irritation they cause the public corporation taxes should be reduced from the present rate of 12 Vs per cent to 10 per cent I 1 am not in favor of proposals for establish establishing inZ a graduated corporation income tax the publicity section should be repealed or modified I 1 will resist to the utmost of my ability all proposals tor for putting new teeth in the present publicity section publication of a business roans mans private business affairs as revealed in his income tax return is wholly indefensible in dealing with the tax question congress must keep in mind the nea necessity tor for gotting getting a measure passed before march 15 when filhe the first in stal ment ot of this years taxes falls alls due I 1 believe that we will have it passed by that time alth although ough I 1 realize the task will leave no time lime tor for loafing the country is so determined to have its taxes reduced and reduced promptly that hat it it is inconceivable to rne me that any member of either the house or senate would risk his political life by wilfully delaying action |