Cljc Migget
Published Monday, Wednesday
and Friday by The
NOME PUBLISHING CO.
Nome, Alaska
Telephone: Main 125
P. O. Box 618
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W. A. BOUCHER. Edi torPublisher
EMILY BOUCHER .Society Editor
Entered as second class matter
October 14, 1943, at the postoffice
at Nome, Alaska, una^ *he Ac
of March 3, 1879.
TAXES AFTER
THE WAR
Beardsley Ruml and H.
Stone, noted economists,
asked to write a report on
a national fiscal and mone
tary policy for after the
war by the National Plan
ning Association suggested!
among other recommend-!
tions the following:
Abolish the Federal in
come tax on corporations
but adopt measures pre
venting the use of the cor
porate form of doing busi-j
ness as a device t oavoid!
to avoid payment of indi
vidual income taxes. Sub
stitute a 5 per cent fran
chise tax on corporation!
income, which represents
the value of doing business
in this corporate form.
Two—rely upon the j
grfaduated progressive in
dividual income tax for the
chief source of revenue,
but with a substantial re
duction from present
rates.
Third—have no form of
general sales tax.
Four — have excise tax
es on tobacco, alcoholic!
beverages and gasoline at1
the levels of 1943—but no
excise taxes of any other
nature.
Why abolish the cor
porate income tax, Ruml
says there are three rea
sons. First, the Federal in
come tax on corporations
reduces business activity
in that it tends to raise the
costs of goods and ser
vices, it tends to keep
wages lower and limits the
vestment. Second, busi-1
yield on risk-bearing in
nessment. Second, busi
ness judgment as to whot
is economically sound in
terms of expenditure,!
pricing capital transac-!
tions, etc., is distorted by
tax considerations — the
j
greater thev- -fi hart ah
higher the Federal tax,
the greater the distortion.
Third, taxation of corpor
ate profits prior to dis
tribution imposes double
taxation on dividend in
come without regard to
progressive rates. Mil
lions of small stockholders
are victims of double tax
ation. — Juneau Empire).
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