Inquiry Into the Taxation And Commercial Policy of Great Britain With Observati
Inquiry Into the Taxation And Commercial Policy of Great Britain With Observati
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To quickly assess the difficulty of the text, read a short excerpt:
Those duties are remarkably heavy. They take effect, not on the income, but on the capital ; and they give rise to frequent cases of severe oppression. The condition of a family, as is well known, is generally changed for the worse by the decease of the parent ; and the peculiar objection to this tax is, that it is taken out of the inadequate means of the widow and her father- less children. The parent may have saved out of his income of 500 or 600 a-year, 1500 or 2000 ; which, if he die intest...ate, is liable to a tax of 60 ; to a farther duty of 1 per cent. , or 20, in descend- ing to his children ; and of 60 if left to nephews : by which it will be diminished 80 in the one case, and 120 in the other, which amounts to 6 per cent, on the whole capital. And if it should be necessary, in the division of the estate, to convert any part of it into cash, to the amount, we may suppose, of 500, it will then be met by the auction duty of 5 per cent. , which will raise the expense to 145, about 7 per cent.
What to read after Inquiry Into the Taxation And Commercial Policy of Great Britain With Observati?
You can find similar books in the "Read Also" column, or choose other free books by David Buchanan to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Those duties are remarkably heavy. They take effect, not on the income, but on the capital ; and they give rise to frequent cases of severe oppression. The condition of a family, as is well known, is generally changed for the worse by the decease of the parent ; and the peculiar objection to this tax is, that it is taken out of the inadequate means of the widow and her father- less children. The parent may have saved out of his income of 500 or 600 a-year, 1500 or 2000 ; which, if he die intest...ate, is liable to a tax of 60 ; to a farther duty of 1 per cent. , or 20, in descend- ing to his children ; and of 60 if left to nephews : by which it will be diminished 80 in the one case, and 120 in the other, which amounts to 6 per cent, on the whole capital. And if it should be necessary, in the division of the estate, to convert any part of it into cash, to the amount, we may suppose, of 500, it will then be met by the auction duty of 5 per cent. , which will raise the expense to 145, about 7 per cent.
What to read after Inquiry Into the Taxation And Commercial Policy of Great Britain With Observati?
You can find similar books in the "Read Also" column, or choose other free books by David Buchanan to read onlineMoreLess
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