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Show HORSE SENSE ABOUT HIGH TAXES. Cnpt. J. C. Ainsworth, the pioneer bend of the U. S. National Bank of Portland, Oregon, points out how the federal income sur-taxes discourage industries and foreign trade. He .shows that no intelligent capitalist will take chances operating a business busi-ness or industry that is dependent on selling its surplus abroad when the government takes half his profit if he is so lucky as to make anything. Any tax becomes unproductive fiom a revenue standpoint when it lessens production and drives investors invest-ors to purchase non-taxable securities. securi-ties. The excess-profits taxes are all passed on to the consumer, being added to the cost of manufacturing. Capt. Ainsworth also talks horse sense when he declares that a Chinese Chi-nese wall high tariff will cripple American industrial development. |