Proposed remedies to curb corporate wealth and implement a progressive tax
A continued proposal argues for limiting corporate lifespans to 25 years with no renewal and shifting focus to a graduated income tax. Exempt incomes under 2000, then 5 percent on 2000 to 10000, 10 percent on 10000 to 30000, 15 percent on 30000 to 50000, 20 percent on 50000 to 100000, and 25 percent above 100000. Example calculations show how taxes would redistribute wealth, reduce disparities, and limit accumulation by firms like Vanderbilts and Goulds while preserving overall enterprise.
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Lts
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W. A. Peffer
United States Senate
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Tax Farner
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Farmers’ Alliance
Tre Rancre
Raleigh
Graduated income tax urged to curb wealth hoarding
The piece argues that wiping public debt and stopping interest would fund the General Government, and a graduated income tax is presented as fair and effective to curb vast wealth accumulation. It notes past experiments, dislikes the old poor man's tax, and cites international use, while criticizing monetary zealots and urging readers to watch newspaper labels as renewals approach.
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