Show COOLIDGE AGAINST INHERITANCE TAX Addressing the National Tax as- as as national Inheritance and testate estate tax taI conference President CoolIdge advocated a drastic de do de- de departure from Irom the policy of ot the he fed Ced federal eral rat ral government in the inheritance Held field He said eald be was opposed tto the national government collect collect- collects collecting ing s g federal Inheritance tax and he would auld do away with It it It If we are to adopt socialIsm he S said Bald sal It should be te presented to tee e people of ot the tha country as social social- L a aAI AI AIto 1 em am and not under the guise of a haw to collect revenue The people lare f are e quite able to lo determine for Cor the desirability of a ai i public pUblIo policy polley and do not Aek aek to have those policies forced lupon upon them by Indirection Then the president went on to show hOW that under our federal and andI I laws a share of ot stock u uon upon on death Ideath of o Its owner might be made Subject to seven separate and die dia ct Inheritance taxes by the fed fed fed-eral oral eral and various state governments land and this tax might In the aggregate gate exceed per cent of the I value of the stock Then he pointed out the expense delay and Inconvenience of ot getting clearance of ot the states who claim the right to tax the tha property I 1 Looking at It from the stand stand- standI standpoInt standpoint stand stand-i I point of state revenue said the I president I am told It Is probable I 1 that the full cost to executors of ascertaining the tax and obtaining I the necessary transfers Is le In the aggregate nearly as much as the tax received by the states upon property of ot non resident decedents Here Hero Indeed Is extravagance In I taxation's A solution might be found byI by I shaving having the federal government the sole taxing power on inheritances land and collecting a uniform tax make a distribution to the states on thet the t I basis of wealth and population The aim in m Inheritance taxes Is IsI isI I Ito to collect revenue and to hold down J the centralization of wealth Estates transferred at III death mean the tho turning over to those who have had bad but little to tp do with thet the I building of ot the estates accumulated accumulate 1 wealty i-wealty In the case cuo of ot very wealthy 1 families the transferring of o their fortunes intact hu has ha been looked lupon as dangerous to society On OnI I ithe J the other hand heavy inheritance axes lUes applied to estates generally operate to divert from Industry well established funds to be dis- dis dist In gO government There Is a vice problem involved ed e i which does not seem to be ba solved by the present laws or by Pres Preal dent Coolidge In lu his suggestions |