The Next Ten Years in British Social and Economic Policy

By G. D. H. Cole | Go to book overview

CHAPTER XVII
THE LABOUR BUDGET—DEBT AND TAXATION

Changing attitude towards the problem of taxation—Taxation as an instrument for the redistribution of income—The level of taxation before and after the War—The growth of national expenditure analysed—How the national revenue is raised—The National Debt—The problem of debt conversion—Repudiation impossible—The Capital Levy—The Colwyn Report and the proposed surtax—The Sinking Fund—The case for its suspension—The American debt—The Socialist way of wiping off the debt—The taxation of inheritance—The Death Duties—The Rignano Scheme—Dr. Dalton's proposals—A plan for the abolition of inheritance —The case of landed estates—Income tax and surtax—Suggested revision of the taxes on incomes—Customs and Excise—The incidence of indirect taxation—The liquor taxes—Tobacco—Sugar and Tea—Other indirect taxes—Protective duties and their yield—Prohibition of imports preferable to a tariff—Repeat of protective duties—Socialism and Free Trade contrasted—Luxury taxes—The effect of the proposed changes in taxation as a whole.

Of all the Ministers in the next Labour Government, it is obvious that the Chancellor of the Exchequer will have by far the most difficult task. Other departments spend money: he has to provide for raising it. And no matter how excellent are the uses to which the tax revenue of the country is put, no one enjoys paying taxes. Moreover, as we have seen, it is not easy, under the present economic system, to tax the luxury expenditure of the rich without at the same time affecting their willingness to provide out of 'saving' the new capital which is urgently needed for the work of national development. The rich spender hides behind the rich saver, and defies the efforts of the tax-gatherer to sequestrate his unproductive surplus. His power to do this can be counteracted if the right measures are taken; but the need to counteract them makes the problem harder and more complicated than many Socialists admit.

-365-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The Next Ten Years in British Social and Economic Policy
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 459

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.