Word: must
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Dates: during 1920-1929
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Nominations for Sophomore Class officers were made last night by W. B. Wood Jr. '32. While giving out these selections. Wood announced that balloting, probably by mail, would take place after the Christmas recess, and that petitions for having names added to the list of nominees must be in his hands in Beck 42 before 5.30 o'clock, Friday evening...
...community expenses and public enterprises must be paid for by some one. It is generally recognized that all routine and special public undertakings are intended to be of benefit to some part of the public; therefore each member of the public should contribute, on some basis, toward payment. But the assessor, under the law, asks, not--"How much have you benefited?", but "How much can you afford to pay?" This is a policy which we would not tolerate in our private affairs: and it is not strange that the application of that policy to us in our tax-paying relation...
...public enterprise which is economically warranted must reflect in some direction the benefit which accrues thereby. And if we could only find that element in the public economy which reflects the benefit, and use that, and that only, as the basis of taxation, it seems that a large part of our tax difficulties might disappear. Let us examine, then, the elements in the public economy...
...wealth are natural resources--land the most common--and human labor. To these the common-sense of man has added a third factor, which is essential to our present scale of production, capital--that portion of wealth which is laid aside to assist in future production. Current wealth production must be apportioned, on some basis, to the three factors in the form of rent to land, wages to labor and interest to capital. And from rent, wages and interest, one or all, must come the current living expenses of individuals, current expenses of the community, paid for by taxes...
...clearly evident that the value of the factors labor and capital must be the cost of reproduction, the number and amount of each being relatively limitless and that, both being relatively mobile, location has little to do with value. But Natural Resources (land) being incapable of reproduction and being immovable, their value depends entirely upon location; and that location--value, in turn, depends upon accessibility and desirability, affected in large part by the expenditure of public money for highways and other public improvements. So it is seen that if we could collect taxes on the basis of land values...