Show THE TAX EXEMPT PARASITES I 1 I 1 there is growing up tip a new class which by the ownership ot of goven client securities has more privileges and less responsibility than any royalty the world has ever known they live on the taxes ot or the people while they themselves enjoy many tax exemptions says arthur huntington in public utilities Flirt nightly it Is probable pio bable that not 0 one tie person out of ten realizes that government borrowings sara are exemption from taxation in other words the mail inan who buys 1000 worth or worth of government bonds Is in it the privileged class that Is not taxed on oil tile income lie ha derives from those bonds also tho the businesses which the government developed with the money from I 1 the ledged tax tree free bonds ar an wholly or largely tax exempt in tile the state of Oregon tor for example if private electric companies had gross incomes of a year the total taxes they would pay today in support of schools roads police protection army navy etc would be nearly twenty per cent of that sum or it if the governments a hydroelectric hydro electric projects now being developed on the columbia river debould earn from tile the sale of oc electricity this income wold be practically tax exempt under existing policies the privileged holder of 0 tax exempt bonds dodges his tax obligations gat ions which the masses have to pay the governments subsidized tax exempt industries didgo the taxes which all other business has to pay Is it any wonder that the cost of government borrowings to build bigger and hotter better tax exempt ill n all parts of the united states think it over find see where the system will lead our nation |