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Show THE NEW TAX BILL. The new "soak the rich," "share the wealth" or "soak the thrifty" tax bill, the same depending on how you feel about it, has now been introduced into congress. It provides for heavy j sur-taxes on incomes above $50,000 ai year, a graduated corporation tax in-! come ranging from 134 per cent to 14 VI per cent, an excess profits tax! from 8 to 10 per cent and an inheritance inherit-ance tax running up to 75 per cent, j Of course there will be much de- ( bate before the bill is passed and ' much water will run over the leg-is-1 lative wheel. It will be maintained, of course, that the little fellow will not! have to pay the tax, that it will come out of the coffers of the rich. But it is impossible for the ultimate consumer to avoid his share of each new tax ; burden, as these are always passed . on by the corporation or the man higher up. But that is not all. The bill, it is estimated, will raise 275 million dollars dol-lars a year. This sounds like real ; money but it is only a few drops in the bucket compared with what will be needed, with annual deficits mounting up into the billions. If the budget is balanced and we start paying pay-ing our debts as a nation, and we must do this sooner or later if we are to continue as a nat'on, more taxes must be found somewhere else. And that somewhere else is on the income in-come of the so-called "little fellow.". It is coming sooner or later, and ' the sooner we stop reckless expenditure expendi-ture in government the less burden-1 some that tax is going to be. But even at the best it is go'xig to be plenty. |