Twenty Years of Financial Policy a Summary of the Chief Financial Measures Pass
Twenty Years of Financial Policy a Summary of the Chief Financial Measures Pass
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1 67 merits of direct and indirect taxation, saying that CHAf5 - III. He felt persuaded that, in a country like England, 1851. The greater the number, and the more various the means of supply, the easier would be the task of raising a large amount of revenue ; and upholding, as " the golden rule of all Chancellors of the Exchequer, " that they should " beware that no tax, whatever form it may take, whether that of a customs' duty, an excise duty, or a direct impost, should, in its nature, be ex...cessive. " But, he argued, the principle upon which all our taxation, as well direct as indirect, should rest is, that it should be general in its applica- tion ; for direct taxation, if accompanied by a system of large exemptions, limiting it practically to a single class, is nothing more or less than a forced contribution levied upon that class. The Income Tax, therefore, founded as it was upon a system of large exemptions, could not be re- garded as a fit element of the permanent taxa- tion of the country, however legitimate it might have been as a temporary impost designed to accomplish a temporary purpose.
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You can find similar books in the "Read Also" column, or choose other free books by Stafford Henry Northcote Iddesleigh to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
1 67 merits of direct and indirect taxation, saying that CHAf5 - III. He felt persuaded that, in a country like England, 1851. The greater the number, and the more various the means of supply, the easier would be the task of raising a large amount of revenue ; and upholding, as " the golden rule of all Chancellors of the Exchequer, " that they should " beware that no tax, whatever form it may take, whether that of a customs' duty, an excise duty, or a direct impost, should, in its nature, be ex...cessive. " But, he argued, the principle upon which all our taxation, as well direct as indirect, should rest is, that it should be general in its applica- tion ; for direct taxation, if accompanied by a system of large exemptions, limiting it practically to a single class, is nothing more or less than a forced contribution levied upon that class. The Income Tax, therefore, founded as it was upon a system of large exemptions, could not be re- garded as a fit element of the permanent taxa- tion of the country, however legitimate it might have been as a temporary impost designed to accomplish a temporary purpose.
What to read after Twenty Years of Financial Policy a Summary of the Chief Financial Measures Pass?
You can find similar books in the "Read Also" column, or choose other free books by Stafford Henry Northcote Iddesleigh to read onlineMoreLess
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