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Show OONT GRUiD , THXJ SEED CORN Taxes on gross Incomes .would bear heavily on employers of labor and lightly on those who derive incomes frpm Investments The possibility ot ruinous Income taxes makes ftrst Liberty Li-berty loan bonds paying three and one-half per cent interest' worth more than tho last Issue of four and one-half one-half per-cent becsuso the former are tax exempt. The Incomo tax Is Jast when levied In proportion to ability to pay, but an unwise Income tax will' drlve'money Into hiding or Into tax-exempt tax-exempt Investments. This tendency Is shown In, the relatively high prices of tax exempt bonds. Congress is about to frame a war revenue bill to provide a revenue of, eight billion dollars a year. It must not "grind the seed corn" and destroy de-stroy sources of revenue In the first year. A flat tax on gross Incomes would cripple or destroy sources of revenue in the first year. A flat tax oa gross Incomes would cripple or destroy de-stroy many of our worthiest trades and Industries. There Is little chiBoe of congress making ouch a blunder, but It' will find activities but It will find advocates and now Is the time to protest against it. New York Commercial. , |