Utopia

Almost alone among the states, Florida has practised encouraging rather than penalizing capitalists through her tax laws. State income and inheritance taxes there have been forbidden by the Florida Constitution. Gloomy critics prophesied that the loss to the state from these sources of revenue would have to be made up by heavy taxes in other directions.

But just the opposite tendency has actually been experienced. Instead of corporation taxes being raised, they have been slashed to the low level of the Delaware corporate imposts. The public utilities have been left alone. Instead of harrying the railroads in the state, legislation was actually passed to help them issue preferred stock. The rails are responding by undertaking new branch lines through the state which will have a great bearing on real-estate values in interior localities.

Only one cloud dimmed this otherwise clear sky, and this soon blew over. Owners of shorefront property are permitted to acquire title to lowlands in front of their holdings. Some of the interior representatives contended that such title should not automatically pass, hut should be acquired only from the state. Shorefront property holders have benefitted by millions through the present law, and for once they shivered slightly when the proposal was made to halt the present practise. But the proposed repeal was soon put into the discard by the triumphant clan of realtors; and Florida's record as a 100% Utopia for the wealthy has been preserved intact.