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A THE FUHMMMTAL BASIS OF THE PROPOSED REVISION OF FEDERAL TAXES ON PROFITS OF BUSINESS 1, Business profits, from whatever source derived and whenever re- ceived, should "bear the seme tax "burden* 2. They do not now, It is not for the Government to say what portion of corporate earnings shall "be distributed and what portion retained; "but it is for the Government to say that those controlling corporations shall not use them as a device for evading the taxes on their personal iiicomes which everybody else has to pay. 3. It is not for the Government to dictate whether "business shall "be carried on as individual enterprises or partnerships on the one hand or as corporations on the other hand. Present tax laws go a long way toward doing so "by making the use of the corporate form of "business organization expensive for the little fellow and profitable for the "big fellow. This inequality should "be removed,
@FedFRASER