Book Description

Excerpt from Local and Imperial Taxation: A Speech of the Right Hon. John Gellibrand Hubbard, M. P., The Delivery of Which on Tuesday the 20th July Was Precluded by the Counting-Out of the House at 9 P. M Thus it appears, that while in 14 years land increased 12; per cent., and houses 60 per cent., Schedule D increased 85 per cent., and the profits represented in this stupendous growth of Schedule D can be reached only through the Income Tax. A merchant invests his capital in manufactures which he exports, and in goods which he imports. His property may be on the seas, in warehouses, or in the acceptances of the consumers whom he supplies. As he realises, he re-invests, and his property may grow, year by year, from to 25, to 30, to 50, to and yet, but for the Income Tax, he might almost wholly escape contributing to the National Exchequer. You may think at any rate to tax his property at his death through the Legacy or Succession Duty, but be not too sure: he may do what has been done before - divide his property among his children and relations, and, reserving an annuity for his own life, convey his accumulated wealth to the next generation without sharing a single pound with the Chancellor of the Exchequer. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.