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Show WHERE THE MONEY GOES There used to be a man in every town in the United States who made a, specialty of loaning money." on farms or for building purposes. pur-poses. Today he has disappeared' .and the funds which were thus available for farm and home building have been withdrawn- The reason is simple the man who used to loan money on farms paid an income tax oh the return therefrom as well as every other form of taxation that could be assessed against him. Today he puts his money into tax-exempt city, county, state or national bonds and escapes tax-free on his Income. The bonds which maintain the federal farm loan banks are tax-exempt but only a very limited number of farmers can get money from this fund which favors a special few. The growth of tax-exempt issues, under government authority has been so rapid that private industry and the private citizens is today carrying a double taxation burden in order that billions of public bonds may remain tax-free and absorb the wealth of the nation which would otherwise be invested in productive industry. |