OCR Interpretation

The day book. (Chicago, Ill.) 1911-1917, January 09, 1915, LAST EDITION, Image 2

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1915-01-09/ed-1/seq-2/

What is OCR?

Thumbnail for

aoilars will be driven onto the assess
ment books, the tax rate "will go low
er and all small property owners pay
less taxes. A man owning a home
or business worth $3,000 would pay
only $10 or $12 taxesinstead of $56
or $57, as now.
These arguments will be made by
Hoyne and his assistants before leg
islative committees. Evidence used
in courts here will be brought in to
show how the little fellow is stung
and it's the millionaire homswoggler
who gets off easy under the present
"The question raised in the inci
dent of Julius Rosenwald," said
Hoyne, "is not whether a personal
property tax is a good thing or not
The main question is: Shall any tax,
laws we have now or in the future
stand on the statute books only to be
laughed at by the large property own
"The same organized system of
secret understandings and criminal
conspiracies by which tax laws now
are defeated would in the future
make a joke of any new laws you
might pass.
"The state's attorney's office haa
nothing to say about whether a tax
on stocks and bonds or automobiles
'and diamonds is good public policy.
Our prosecution is directed against
individuals who have built a cunning
piece of machinery designed to de
stroy either the tax laws we have now
or new tax laws to come.
"No matter what you decide by
law shall be taxed, it won't be taxed
if the fixing system now ot work stays
m operation. So perfect is this fixing
system as it now operates that it will
defeat a tax on land or incomes or
any other class of property you select
for special taxation
"The estate of a dead man, for in
stance, comes into clear view in the
open daylight of probate court rec
ords where everybody ,can see the
property. It is not hidden in any way
nor can it be hidden. I believfi onr
been the most ridiculous sort of under
assessment and evasion of taxes on
this class of property.
"There is favoritism and discrim
ination on real estate. There are
lands and buildings In plain sight
where assessors can value them. A
They are totally different from Jewels
or government bonds, which can be
kept in a safe deposit vault and con
cealed from an assessor. Yet these
lands and buildings are assessed far
below actual cash value and the state
loses enormous amounts of tax
money because there are secret un
derstandings and criminal conspira
cies at work between the property
owner and the public officials admin
istering the tax laws ,
"The same system by which Julius
Rosenwald evade'd the revenue laws
which failed to reach and assess his
shares of stock in Sears, Roebuck &
Co. will defeat any new laws. The
same system by which Augusta Ros
enwald evaded tax payment of taxes
on $441,320, the market value of
Sears-Roebuck stock which she held,
would enable any citizen to evade tax
payments on any other class of prop
erty." The Civic Federation came into the
tax muddle yesterday. A statement
was issued by Joseph E. Otis, presi
dent of the federation and vice pres
ident of the Central Trust Co., and
Douglas Sutherland, secretary, says
they are going to the legislature with
new tax laws.
They want a tax law that will
knock off all taxes on Julius Rosen
wald's $25,000,000 of stock in Sears
Roebuck Co. They want "construe "
tive legislation" on taxes. But they
don't want the initiative and refer
endum. The Civic Federation has for sev
eral years lobbied at Springfield
against the initiative and referendum.
All business interests willing to
spend money to choke off the initia
tive nnrl rpfprpnrhim in TTIinnta. spnri
their money to Otis and Sutherland,
investigation will show that there has 1

xml | txt