Taxation Yesterday to Morrow
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Where we have something more nearly resembling taxes on capital, as in the case of the Estate Duties, the amounts are usually paid out of income.
But the present discussion is the result of our present financial position. It arises from these figures : National Debt.
At the outbreak of war 545, 000, 000 In the year 1920-21 7, 835, 000, 000 Total yearly debt charges ... 345, 000, 000 The practical question is whether we should not get rid of this yearly burden of interest by one great effort. It... is only possible (apart from sheer revolution and repudiation) by a capital levy or some equivalent. What choice of action is open to us ? Sir J. Stamp gives three (" Economic Journal, " December, 1919) : 105 106 TAXATION, YESTERDAY & TO-MORROW I. An increase of the income tax and super-tax ; II. A levy on capital ; or Ila. A levy on war fortunes ; III. Taxation of business profits, on a basis which would be some kind of improved Excess Profits Duty. * It will be seen that the last two projects are similar in their aim : to call upon those who have made money out of (or at least concurrently with) the war.
What to read after Taxation Yesterday to Morrow?
You can find similar books in the "Read Also" column, or choose other free books by Robert Jones to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Where we have something more nearly resembling taxes on capital, as in the case of the Estate Duties, the amounts are usually paid out of income.
But the present discussion is the result of our present financial position. It arises from these figures : National Debt.
At the outbreak of war 545, 000, 000 In the year 1920-21 7, 835, 000, 000 Total yearly debt charges ... 345, 000, 000 The practical question is whether we should not get rid of this yearly burden of interest by one great effort. It... is only possible (apart from sheer revolution and repudiation) by a capital levy or some equivalent. What choice of action is open to us ? Sir J. Stamp gives three (" Economic Journal, " December, 1919) : 105 106 TAXATION, YESTERDAY & TO-MORROW I. An increase of the income tax and super-tax ; II. A levy on capital ; or Ila. A levy on war fortunes ; III. Taxation of business profits, on a basis which would be some kind of improved Excess Profits Duty. * It will be seen that the last two projects are similar in their aim : to call upon those who have made money out of (or at least concurrently with) the war.
What to read after Taxation Yesterday to Morrow?
You can find similar books in the "Read Also" column, or choose other free books by Robert Jones to read onlineMoreLess
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