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Show REDUCING TAXES Thinking people will be incline'd to agree with President Cool-idge Cool-idge that it is decidedly too early now to talk about; another tax reduction in the near future. It is true that there will be a surplus instead of a deficit at the end of the present fiscal year, and that this is a pleasant surprise to most of us. The country is undoubtedly properous now. But there is no assurance that there, will be a surplus at the end of the next fical year. If the surplus then continues con-tinues and grows, there will be time enough to consider what we ought to do about it. And there are many who think that the best way to ease the burdens of the taxpayers is to continue to pay off our giant war debt as rapidly as possible. The United States now has the least burdensome tax of the countries which tookj part in the great war. This does riot mean that we ought to quit reducing federal taxes, but it does signify that there is no longer a tax crisis and that any further reductions ough to be considered very carefully. Sound economics and not pol itics should be the inspiration in the future, just as the administration has been guided bu such a standard in, the past. Nobody will seriously maintain that any further reduction ir federal taxes will aid the farmer, who needs more than anyone else to be aided just now. He has already been relieved of! his income tax burdens. By all means let us reduce the taxes further when practicable, but let us approach the subject with caution as the President suggests. sug-gests. Incidentally, it may be suggested that any tax reduction ammunition we have left ought to be used on our state and local taxes. There is where the most good con be done. |