PHIL CHARGES TAX BURDENS ON FARMS, HOMES
PHIL CHARGES TAX BURDENS ON FARMS, HOMES Tells Moulicello Crowd He Would Revise Income Levy MONTICEM.O. Wis.—In a campaign address here today. Phil La Follette cited illustration* which he said...
...One who derived hi...
...This policy made necessary the levy by the present administration of tax for state purposes of farms, homes and real estate of $4,296,000—the largest since 1925...
...A business man who derived the same income from $20,000 of real estate and his business would have to pay $424 of it in taxes...
...A resident of Dane county, where conditions are much better than in northern Wisconsin, who has $50,000 Invested in farm lands from which he derive a net Income of $2,500 is compelled to pay from $497 to $1,691 of It in taxes, depending upon the township in which he resides...
...For example, if the individual resided in Marinette, and had the same investment from which he derived $2,500 in net...
...From 1924 to 1927 the net income of corporations in Wisconsin nave increased from $63,000,000 to over $185,000,000 or a gain at 193 per cent...
...Allis-cliHlinei'h of $147,000 and others of similar amounts, but would have cost the state of Wisconsin and its taxpayers $18,000,000 in lost income j tnxe...
...If the same individual, he said, resided m Marinette, and had the same investment from which he derived $2,500 in net income from apartments and houses, hi...
...The great share of this Increase cost has been placed upon real estate...
...An individual resident of Dane county who had $50.000 invested in farm lands in Dane county from which he derived $2,500 of net income Is compelled to pay from $497 to SI.691 of it in taxes, depending upon the township in which he he resides...
...Phil La Follette cited illustration* which he said "evidence the unjust and unfair share of the cost of government placed upon farms, home, and other forms of real estate...
...It makes ownership of real estate in any form undesirable and prevents the sale of real estate...
...and other forms of real estate...
...La Follette renewed his pledge here to revise the Smith income tax law "to the end that great wealth shall pay its just and proportionate share of the tax burden and that farmers, and home owners shall be relieved of excessive state taxes...
...In 1927, the Smith Tax Bill was enacted, which relieved great wealth, and imposed increases on small Incomes...
...he would have to pay $1,000 of it in taxes...
...The same conditions prevail elsewhere through Wisconsin...
...Progressives reaffirm their adherence to the fundamental principle that taxes should be levied in accordance with ability to pay...
...Al-j though every candidate in 1928 pledged revision of the Smith Income Tax Bill, the present administration and its supporters succeeeded in defeating such re-i vision...
...if Ihe individual owned no real estate, but invented his $50,000 in stocks and bonds from which he derived an income of $2,500 hLs total tax for all purposes would amount to only $6.50...
...They renew their pledge to revise the Smith Income tax law to the end that great wealth shall pay its just and proportionate share of the tax burden and that farmers, and home owners shall be relieved of excessive state taxes which are now both unjust and oppressive...
...From 1919 to 1925 there was an increase in individual income subject to payment of federal income taxes of 133 per cent...
...At that time the rates on incomes were fixed to place upon incomes a more just share of the costs of government...
...The injustice of the present tax laws is shown by tax studies that have been made of conditions in Dane county...
...This policy of burdening the farms, homes and other real estate with an unjust and oppressive share of the cost of government Is undermining farm prices, home ownership and mortgage values...
...89,000...
...Since 1919 incomes from farms and other forms of income have constantly decreased...
...La Follette said...
...After four years of effort Progressives succeeded in 1925 in enacting the tax bill of that...
...year, which produced enough additional revenue from income* to relieve real estate of all taxes for state purposes in 1925 and 1926...
...income from apartment.* and houses, his taxes would amount to $1,754...
...And conditions In Dane county are typical of southern Wisconsin, which are...
...The secretary of agriculture reports that the farmer's dollar decreased in a five year period to 25 cents, and that the American farmer has lost $20,-000.000,000 from his capital investment during this period...
...La Follette's third illustration was that an individual deriving his income from houses or apartments of the same value would have to pay in the city of Madison $1,050 as his tax contribution...
...Kohler Co...
...A large portion of this increase took place in recent years, there being ah increase from 1922 to 1927 of 73 per cent in net corporation incomes...
...But...
...But...
...in general, much better than in northern Wisconsin where burdens upon farms and other forms of real estate have become insufferable...
...If this individual resided in Bayfield county and had an investment in farm lands sufficient to produce in rents the income of $2,500 he would have to pay $1,900 of it in taxes...
...In the face of the present administration's pledge to revise the Smith Income 'lax Bill -for the benefit of people with annall incomes," the original Daggett Bill of 1929, introduced with the support and approval of the present administration would have relieved great corporations of taxation, such an N.v-h Motor* Co...
...Continuing his illustrations, La Follette pointed out that if an individual in Bayfield county had an investment in farm lands sufficient to produce in rents the income of $2,500...
...These typical Illustrations evidence the unjust and unfair share of the cast of government placed upon farmers, home...
...taxes would amount to $1,754...
...In 1911, in furtherance of this fair and just doctrine, Progressives secured the enactment of the income tax...
...In 1925...
...A business man who derives the same Income from $20,000 of real estate would have to pay $424 of it in taxes, La Fol-lette pointed out for his second lllustration...
...Large individual incomes have likewise increased during this pcriod...
...Wis.—In a campaign address here today...
...But in 1927 the Stalwarts succeeded in enacting the Smith Income Tax law which relieved great wealth and imposed increased burdens upon small incomes...
...His speech, in part, follows: "Progressives have been consistent advocates of the principle of levying taxes in accord with the ability to pay...
...after overcoming bitter opposition of Stalwarts the Progressive Tax Bill of that year increased the share which incomes should bear by repeal of the personal property off-set...
...of $1,215,000...
...Since 1911 there has been an increase in the cost payments for government in Wisconsin of 101 per cent...
...he declared, "if the individual owned no real eitate, but invested hU $50,000 In stork* and bonds from which he derived an income of $2,309, hi* total tax for all purpose* would amount to only $£.50...
...income from houses or apartments of the same value would have to pay In the city of Madison $1,050 as his tax contribution...
...An the lore nf these pledges, and condition.' »xisting In Wisconsin the •present administration vetoed, or through its supporters in the legislature defeated every attempt in the 1929 session of the legislature to cut the taxes on farms, real estate and moderate incomes...
Vol. 1 • August 1930 • No. 38
