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Show TAX-EXEMPT FARCE It is estimate dthat there are approximately ap-proximately $30,000,000,000 worth of tax-exempt or serai tax-exempt r.ibi;c improvement or government bonds outstanding. This means that the income derived deriv-ed from such securities escapes the industry and prolal law waf fafafa burden of taxation which taxable industry and property must make up. ' Figuring out that the $30,000,000 000 is paying the holders of the bonds a return of 5 per cent, the government is losing the tax on income in-come which it should receive from the greater part of the $1,500,000,-000 $1,500,000,-000 these bonds return the holders annually in interest. Industry or agriculture which pro duced ? 1.500.000,000 return annually annual-ly would be paying a large part of ; this amount to city, county, state or federal government through taxes of various forms. Yet this enormous income from bonds slides out from under paying my part of the tax burden. Here is a logical point to start to reduce the tax bill discoutinue further fur-ther issuance of tax-extmpt securities securi-ties which handicap private industry in obtaining funds and add a double burden to remaining taxable property proper-ty and taxpayers. |