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Show ONE EFFECT OF TAX-EXEMPTS Investments in tax-exempt securities securi-ties have resulted in a reduction of more than $4,000,000,000 in the total to-tal net incomes reported for last year. Tn 1916. 206 persons were reported report-ed in the million-doll.nr-income class and last year this had shrunken to only twenty-one persons as a result of a billion d'ollars or more of tax-exempt tax-exempt securities being issued every year and gobbled up hy the investors. Tt is estimated that $:!0.000, 000,-000 000,-000 of tax-exempts have been absorbed ab-sorbed by investors, while taxpayers with net incomes of $3,000 or less pay more than 4 0 por cent of the federal income tax. Between tlie excess profits tax and reducing incomes by investing in the tax-exempt securities, we are not making the rich poorer but the poor re made poorer, for more and more !he burden of the federal income tax is falling upon those with small incomes. in-comes. The largest onen-cuf copper mine in the world is in I'tah. The largest s::'i mines in the United :-i:Mi-s are in rtnh. The state ranks first in silver production: third in lead, fourth in copper and seventh in gold, and the largest smelt'ng center In the world Is in Salt Lake City. I |