OCR Text |
Show Tax-Infested Nations Th; American citzen who regards our tax burden with equanimity merely because It is l:s than that vuutii oil iuii; Europ:-an countries, may oe due foi a rude awakening. An exhaustive survey of national budgets throughout the world, made by the Now York Trust Company show., that the tremenlous increase in our public debt caused by mer-goncy mer-goncy spending i -, likely to burden us with greater taxes than those cf any European nation in paying the ultimate co t of the measures taken to ccpe with depr ision. In other word , the sper.dings of the? pa t five years to banish dtpres-sicn dtpres-sicn are tik' ly to continue depression depres-sion indefinite ly because cf the vart sum1; that will be taken cut of the future national income to pay the bill! Id is the old story of nations which have attempt d to spend themselves into recovery and have then found that recovery was getting get-ting farther away all the time. Politics cannot ba trusted to reverse re-verse the prevent tr'iad because the pel t'cian, far from, worrying about a tax-infci Del nation, continually want more money for the present, irrespective of where it comes from inor what it do s to the sources of product' ve wealth. A drive is now cn to tax new wells of capital for tax revenue, by pa-sing pa-sing nfw "nuiance taxes," by increasing in-creasing the levies against estates, by rais ng income taxes, etc., et This takes mora y that would b ti ed for Jobs, for hornet", fcr farm bidding-for bidding-for industrial developemfnt and for investment in all lines of private lemdeabor, Thiei nation faces a firleancial crisis forced on us by exorbitant taxation which confisca.taq cap'tal and therefore there-fore destroys the rcurce of future ?arni'ngs. Orely the public, which in thei long run determines aU national policies, holds tbh power to save itself from destruction. |