OUTLOOK FOR THE RICH
Mr J. P. Morgan, of Wall street, New York, voices the outlook of the rich man in declaring that, under present conditions, all private fortunes will be wiped out in 30 years. Returning from Europe, the financial- (according to the ‘ Christian Science Monitor ’) declared that taxes and governmental demands which take two-thirds of the sizable income will spell confiscation within a generation. What he earns m eight months of the year is now taken by the Government, and he believes no business man can go on yielding twothirds of his income to a partner. His apprehension does not stop with the well-to-do, but includes the fate of the current regime. Colleges, schools, and libraries will disappear under the present taxes. The Government itseiT will collapse—it cannot go on spending twice its income and survive.
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Evening Star, Issue 22276, 29 February 1936, Page 7
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138OUTLOOK FOR THE RICH Evening Star, Issue 22276, 29 February 1936, Page 7
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