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Show TAX-EXEMPT BOXD MT1XACE A number of industries are becoming be-coming worried over the increasing amounts of money that are heing withdrawn from productive activity and placed in tax-exempt bonds. In one year, the nurMier of Amert-cans Amert-cans paying taxes on incomes of 1 00.000 decreased from 3600 to 2 300, not because less money is being be-ing male, hut because they are withdrawing with-drawing their . funds from taxable undertakings un-dertakings and buying city, county, atnte and national securities, the income in-come from which pays no taxes. The existing situation tends to create classes of privileged persons who enioy incomes free from taxa-t'on taxa-t'on while withdrawing their money ?vom the ordinary uses of industry and commerce. Not only does industry and the citizen have to pay increased taxes to make up the sums thus lost to the government, but industry has to pay increased rates of interest in order to induce capital to invest in properties proper-ties which are subject to all forms of taxation. 1 |