The Indemnity And Its Effects On Trade a Memorandum
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, 20 (gold). This is not as low as might appear, because gold prices are lower in Germany than elsewhere ; but it is less than half the similar figure for France, and less than J that for England.
How can 108 milliards more be raised ? Complaints are made of extravagant salaries of officials, particularly in the cities, but the dismissal of 400, 000 officials would only save 6 milliards. The income tax is already up to 60% on large incomes ; the yield of income and property taxes together is on...ly 18 milliards, and they cannot be increased six-fold as would be needed to raise 108 more milliards. The problem is, roughly, the trebling of the German revenues.
Nevertheless, the new German Government takes an optimistic view. It professes an anxiety to do all in its power to discharge its obligations and announces an imposing programme of taxation. A considerable revenue is expected from placing fresh burdens on property, which largely escaped the Erzberger property taxes of 1919. Property embodied in solid things which rose in price as the mark depreciated is taxed on its 1919 value in marks, which may well be but a small part of its present value.
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To quickly assess the difficulty of the text, read a short excerpt:
, 20 (gold). This is not as low as might appear, because gold prices are lower in Germany than elsewhere ; but it is less than half the similar figure for France, and less than J that for England.
How can 108 milliards more be raised ? Complaints are made of extravagant salaries of officials, particularly in the cities, but the dismissal of 400, 000 officials would only save 6 milliards. The income tax is already up to 60% on large incomes ; the yield of income and property taxes together is on...ly 18 milliards, and they cannot be increased six-fold as would be needed to raise 108 more milliards. The problem is, roughly, the trebling of the German revenues.
Nevertheless, the new German Government takes an optimistic view. It professes an anxiety to do all in its power to discharge its obligations and announces an imposing programme of taxation. A considerable revenue is expected from placing fresh burdens on property, which largely escaped the Erzberger property taxes of 1919. Property embodied in solid things which rose in price as the mark depreciated is taxed on its 1919 value in marks, which may well be but a small part of its present value.
What to read after The Indemnity And Its Effects On Trade a Memorandum?
You can find similar books in the "Read Also" column, or choose other free books by International Chamber of Commerce to read onlineMoreLess
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