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Show fl kahn mm y w m SALES Financier Says New Plan Is More Equitable and Less Burdensome W NEW YOUK. Feb, l. Adoption of o sales or turnover tax mi hod o g collecting federal revenues was advo- ' 'i bj 1 itto H. Kahn n BBBBB fore A m lN"-r " 'ridof 1"':'s' :,t "" annual dinner K The "simplicity, productivity and Ki ' 1 oi one-half w Bpa 1 8 n 1 would mil..- ir in ideal JL ' evi .i bi il HI "BREED! Us ( n u.M" BBB He characterized the present reve- BBB nuo measure the excess profits and BBB Income taxes, with their various dlvl- Ion a "breeders of harm to all the BBBa "I favor n tax (at a very low rate) BBa on commodities and exempting initial BBl Mies of farm crops and livestock and BJB further exempting turnovi is aggregal- BBJ ing annually not exceeding l&OOO," the BBBJ speaker Bold. HH "Tho rale of the tax should not be tmM -bove one per cent: I should indeed, i-refer one-half of one per cent to "oe- BB gin with. "I ana clear in my mind that in or- HB der to restore normalcy to our eco- BBf ,nonrli lit- and Industrial activities our BBJ surtaxes inuat be reduced to the fig- BBJ urea advocated by the secretary of the BH treasury in his latest report to coii- BB gress, namely, a maximum rate which BBB including the normal lax. does not ex- .coed 33 per cent.' w OBJEC71 IONS STA1 i D Ell - Mr. Kahn indicted thi federal r e- BBfl ' nue law now in force on me follow-n Hfl ' grounds: K A "It Is a measure unscientific, in -q- BB uitablo in operntlon. ciimbersome, vex- jr L Ltious and Intolerably complex. BJBBJ "it bears the Imprint of sectional H and class discrimination Ba It penalizes thrift and Industry, BBBB but leaves the wastrel and the shirk- t i) ' mi h 1 1 BBBa ' It discourages, disturbs and Im- Bflfl pedes business and places the Ameri- I. i in business man al a disadvantage as Kssm igalnst his European competitors In BBBB the markets of the world BB 'li tends to curtail production, rs- i.Lins consumption, diminishes the HjH demand for labor, depresses agricul-BBBB agricul-BBBB BBBB "it facilitates governmental axtrav- BBa ganee, It Impairs the Incentive to ef- IBBBj fort and to self-denial by saving. It IBBBj makes, lor higher costs. It hampers BBfl md deflects tho flow of capital IIBj "it depletes the necessary cash lBBj working fund of Industry and stands ST :g in the way of that accumulation Of Bt Bft new capital which is Indispensably n - B ulslte for development." XssnV -- |