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Show lVKOr.Al, I X.H'ST INCOME TAX There apepars to be a regular and sustained slump in the income tax receipts of the government. It is calculated cal-culated by experts that the revenues for the calendar year will fall at least 2 5 per cent below the estimates We are becoming a nation of trained train-ed tax dodgers and there are numbers num-bers of skilled and experienced men who make n cotfnrfable living by showing beriness men and corporations corpora-tions how to shave their tax returns. Many of these have been in the service ser-vice of the government and are familiar fa-miliar with the ropes. They are well within the law and no just fault can be found with them They are simply enabling their clients to take 'such personal advantage as they may from the weaknesses of the revenue law itself. More than ever the burden of the income tax is falling upon the middle mid-dle class and those of modest incomes. in-comes. The small incomes are exempt ex-empt and the large ones are being dodged. The incomes of the wealthy are going into tax-exempt securities and the real purpose of taxation is being lost to view. The principle of an income in-come tax is just, b ut themtehftmmf come tax is just, but the method of application is not as sane and practical prac-tical as it should be. It was established estab-lished when the world was on a war footing and it does not readily adjust itself to changed economic conditions A man with a million dollars Invested In-vested in tax-exempt securities pays no taxes on his income. A man with a million dollars invested in-vested in an employing industry pays every known form of taxation. Does this encourage industrial development? Would it not be well to change the laws permitting tax-exempt securities securi-ties thus equalizing the tax burden so that, those most able to pay will be charged with their just share and' the man of modest means relieved of an unjust burden? : |