Indianapolis Times, Volume 46, Number 211, Indianapolis, Marion County, 12 January 1935 — Page 11

CTA7C. 12. 1933

AMAZING TAX PLAN PROPOSED BY TOWNSEND Sales Transaction Levy to Pay for Pensions, He Explains Carefully. hi MAX STERN Irnir. Social Writer WASHINGTON. Jan. 12 -With n • a sow days’’ the House will receive a bill embodying the Townsend old ace revolving pensioq plan. Dr. F. F. Townsend said today, and with it a taxation scheme new. strange and a bit bewildering to Washington—the ‘•ales transaction tax. This tax. explained the lean and solemn Californian in his cubbyhole hotel room office, is misundcr!ood ’because it's so simple.” To finance 'OARPP ’ and move all perons past 60 over to Easy-st, the Federal Government would license every per-on or firm that sells things and tmpo.-e on every transacEvery seller, whether a farmer or a teel corporation. would be licensed. Every sale, whether an apple or a locomoMve. would bear the tax And no matter how many times an article changed hands the tax would bear down on each transaction pyramiding as it went. • Wouldn't this require an army of tax collectors?” Dr. Townsend was a ked. -The more the better.” he replied. “Don’t we want to make jobs?” “Whv 2 nor ront^’* tor came back with figures mount.ng not to billions, but trillions. Personal Services Exempt “If you go to the House Ways and Means Committee hearings for the Seventy-second Congress,” he said, -you’ll find that the U. S. A. did sl,208.000.000 000 of business in 1929. and $l 108 000 000 noo in 1928. Now a 2 per cen f transaction sales tax on this business in either year would rai--e the required $1,600,000,000 a month to pension 8 000 000 old folks past 60 at. S2OO a month. Even in our worst year, 1932, a 5 per cent lax would have done it.” Q —Would this tax go on every tian action. say a taxi fare? A— Yr . Everything but personal servQ Mv salary check? A—No. That is not a sales transaction, and if it taxed that would tv .five double taxation when you came to spend the salary. Q How would the tax be collected? A Through the postofficcs or the banks. At the end of every month every licensee would total his gross sales and pay the tax. Favors Penalizing Buyer Q—How about evasions? A—l favor penalizing buyer as well as seller. If we'd done that there wouldn't have been so much bootlegging un- I dcr prohibition. The bill will forbid trading with an unlicensed seller. Q Wouldn't this raise the cost of living tremendously? A—Yes, it] probably would add 10 per cent to prices. But that’s what we want, isn't it ? When prices went up during and after the war we called it, prosperity. Q—Wouldn’t It bring inflation? A —No. I talked with a very eminent; economi.'t. and he said it would have the opposite effect. It would increase buying and restore competition. It would substitute an abundance economy for the one that : calls for taxing us all to feed the poor and then plowing under crops needed to feed them. Licenses for Half Nation Q —ls every farmer and small tradesman is licensed wouldn’t that require a complicated machinery? A—l expect half the people of the country would have to take out licenses. But we’ve worked out more complicated problems than this. Q—Would the tax apply to intangibles. such as stocks and bonds? i A Yes. to all sales transactions.) The Supreme Court has ruled that intangibles are commodities. Here the interview was interrupt- j Pri by the entrance of three husky doctors from Montana and the Dakoras. vanguard of a lobby of uncictermtned size. They told of hundreds of Townsend clubs in the I -now-blanketed prairies of the ‘The President’s social security plans are all right," said one of these, a Non-Partisan Leaguer, “but they will take too long. We want immediate relief.” STATE DENTAL SOCIETY OFFICERS WILL MEET Leaders to Outline Convention to Be Held in May. Officers and trustees of the Indiana State Dental Association will meet tomorrow in the Washington in mid-winter session with the presidents and secretaries of district dental societies. Principal business will be arrangements for the annual state meeting to be held here in May. Dr. W, C. Hessler. Crawfordsville. president. and Dt. A R. Ross. Lafayette, secretary, will address the meeting. Reports of ail officers will be heard. SOME WOMEN ALWAYS ATTRACT You want to be beautiful. You w ant the tireless energy, fresh complexion and pep of youth. Then let Dr. Edwards Olive Tablets help free yeur system of the poisons caused by sluggish bowels. For 20 years, men and women suffering from stomach trouble', pimple.-. listiessness and headaches have taken Dr. Edwards Olive Tablets, a *uec*ful substitute for calomol. a compound of vegetable ingredients known hr their olive color. They act easily npnn the hotels without griping They fc. Ip cleanse the system of If you value youth and its many y f’. take P r Edwards Olive Tablets. How much better von will feel—and 1 ok. IV Hi*c.—Advertisement.

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.//- n Expression of Gratitude ©to a Brilliant Civic Confidence in His few*f Worthy Successor , a j 0 ] ler worthy sons .. . Reginald H. Sullivan % At this time of recognition of public service, we the undersigned, commend our % beloved Ex-Mayor for his rigid honesty, his inspiring fearlessness and his h abounding energy. J. What tlie Sullivan Ad ministration Has Meant to Indianapolis Occasionally a man emerges into public life who restores our city was acclaimed as the one making the greatest flour faith... faith not in office holders alone, but also in the nancial progress. principle of self-government. A man too honest to stoop to - .This was not easily done. The most stringent economy trickery and intrigue... too decent to strive for personal was necessary. Salaries were cut, budgets were curtailed, glory ... too conscientious to betray a public trust. luxuries were abandoned. People affected by the economies Fortunate indeed is any city with such a man at its helm. wc ’ re . disgruntled. No mere politician, jealously guarding a Fortunate is Indianapolis that throughout a period of un- • political future, would have DARED to do it. But Ex-Mayor precedented stress Reginald .H. Sullivan had been Mayor. Sullivan did... and the people oi Indianapolis benefited. For his was no philosophy of defeat; he did not attempt to Without extravagance, without undue emotion, we, the lose as little as possible, hut actually drove Indianapolis for- undersigned, publicly acknowledge a civic debt and avow a ward. So earnestly did he labor that throughout the nation deep and abiding respect for Reginald H. Sullivan. We Believe in f%\ ■ John W. Kern "or a continuation of the Sullivan policies we look [ ,1 > J strated his singleness of purpose ... the betterment of with confidence to his successor, Mayor John W. Kern. A s /)• Indianapolis. A man whose integrity has been demonstrated in the 7 \ His task will be difficult. As he continues the procourse of a useful public life, he combines sincerity with /A \ gram of civic economy there will be many disaffected a high order of intelligence. More, he assumed office /\ \ iniJPt /)/ elements ready to pounce upon him and impugn his with the good will and co-operation of the entire com- V ,-hj * motives. His career is at stake. But he comes of bat*tv L i TiMlI tlmg stock... a stock that knows what it means to fight oio | for principle. He will not waver. His start has been auspicious. He has had the sound In your hands, Mayor Kern, rest our hopes. You sense to sunound himself with an official fanulj of ====Hps==g=i“;. know wh; you were elected; we are firm in our belief recognized ability, retaining from the Sullivan regime % that you hold dear the welfare of your city. In all remany public servants of proved merit. He has demon- spects you are worthy of your illustrious predecessor. HI We Admire Reginald H. Sullivan and John W. Kern and extend them our heartfelt good wishes for Success! Link Belt Cos. Indianapolis Railways Marion County Democratic Frank McHale T. A. Moynahan Clifford M. Townsend Central Committee p R Mallory Cos., Inc. Bowman Elder Indianapolis Drop Forge Cos. American Foundry G [ enn g g a i ston Chas. S. Rauh Omer Stokes Jackson Sears, Roebuck & Cos. MrKinnev Red Cab, Inc. Indianapolis Power & Light Frank E. McKinney The Belt Railroad & Stock- Company E . C . Atkins & Cos. E ‘ H " yards Cos. Hotel Severin Patrick Henry Beer Frank B. Ransom George J. Marott Thomas D. Taggart Universal Beverage Cos., Inc. Union Title Cos.

THE INDIANAPOLIS TIMES

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