War Taxation: Some Comments and LettersKahn, Otto H.
History
War Taxation: Some Comments and Letters
Kahn, Otto H.
Income tax -- United States; World War, 1914-1918 -- Finance -- United States
Indeed, the proportion of the sons of the well-to-do on the actual
fighting line is bound to be a predominating one, because vast numbers
of wage workers in the industries and on the farms will necessarily
have to be retained at their accustomed vocations in order to maintain
the output of our factories and farms.
Have the children of the well-to-do been backward in volunteering? Were
they not, on the contrary, amongst the very first to offer to serve and
to fight?
II
_There appears to prevail amongst not a few people the strange delusion
that America's entrance into the war was fomented by moneyed men, in
part, at least, from the motive and for the purpose of gain._
_Were there any such men, no public condemnation of them could be too
severe, no punishment would be adequate. I am absolutely certain that
no such hideous and dastardly calculation found lodgment in the brain
of any American, rich or poor._
Moreover, is it not perfectly manifest that any rich man in his senses
must have known that his selfish interest was best promoted by the
continuance of the conditions of the last three years in which America
furnished funds and supplies to Europe at huge profits, whilst our
entering the war was bound to diminish those profits very largely
(indeed, to entirely eliminate some of them), to interfere with
business activity in many lines and to compel the imposition of heavy
taxes on wealth?
It is to the credit of our rich men that, though fully realizing the
extent of the monetary loss and sacrifices which war between this
country and Germany must necessarily bring to them, there were but very
few of them who supported the Peace-at-any-Price Party or favored the
avoidance of America entering into the war when it had become plain
that our participation in that war could not be avoided with honor and
with due regard for our duty to our own country, or to the cause of
right and liberty throughout the world.
Yet, somehow, the pacifists seem to have singled out the rich as mainly
responsible for the war.
It may be due, consciously or unconsciously, to a resulting feeling of
resentment that _the proposal to confiscate during the war all incomes
beyond a certain figure is actively promoted by leading pacifists_--a
proposal based upon ignorance of, or disregard for, the laws of
economics, teachings of history and practical considerations.
If any such scheme were to be adopted, the consequences to the country
at large would be far more serious than to the victims of the proposed
action.
If such a measure of outright confiscation were seriously apprehended,
at a time moreover and under conditions which are far as yet from
calling for extreme measures, capital would cease to flow in its
accustomed currents and some of it would seek other channels
legitimately open to it.
Public-domain text, read in full here on John Shaqi.
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