CONSCRIPTION OF WEALTH

Dominion, Volume 10, Issue 3089, 21 May 1917, Page 6

CONSCRIPTION OF WEALTH

Sir,—before this coining session of Parliament wets 1 should very much like to see the Press of the Dominion thrash out the best possible form of taxßtion to meet the colossal expenditure of this war, and to ensure our soldiers and tfheir dependants being treated in ! a very liberal manner. Mr. Craigie, M.P., has already stated his views on this subject, and am sure he is on the right track. I am one of the class that is known as a fairly large landowner, and being over military age, feel very strongly that as we have conscription of life, we ought to also have conscription of wealth in the following form of taxation:— Up to .£SOO capital to be exempted. On Married People. Up to .£IO,OOO capital , 2} p;c. tax Up ; to ,£30,000 capital. i p.c. tax Up to .£50,000 capital ■.. 5 p.c. tax" Up to .£IOO,OOO capital B p.c. tax Up to Ji20(),000 capital 7 p.c. tax Up to .£300,000 capital 8 p.c. tax Up to .£400,000 capital 10 p.c. tax Over .£400,000 capital 12 p.e. tax On. Bachelors and Spinsters. Up to .£IO,OOO capital .'. 5 p.c. tax Up to .£30,000 capital '■■■■ t> p.c. tax Up to .£50,000 capital 7 p.c. tax Up to .£IOO,OOO capital 8 p.c. tax Up to .6200,000 capital 9 p.c.tax Up to .£300,000 capital 10 -p.c. tax Up to .£ieo,ooo capitaL 12 p.c. tax Over .£400,000 capital 15 p.c. tax 1. Any man that has gone to the war to be exempted up to .010,000 of his capital. 2. In the case of companies, each individual to pay on the value of his shares. 3. The above tax to be levied once, and payment to be spread over a period of iive years. i. A percentage of the money thus raised to be handed to the patriotic societies for the benefit of returned soldiers. It is stated that the capital value of the people of Men-Zealand is four hundred millions, so a tax as suggested would bring in about fifteen and there would be no fear of it upsetting the finances of the country if people had five years to pay it in. The Wai , Profits Tax has been proved to be most unfair and unworkable. This ought to be <lone"nwa,y with, and instead an export tax put on wool, meat, cheese, butter and flax, or on anything that, is getting an extra price from the effect of the war. This would be very easy to collect, and hit the man that has derived the benefit of the higher prices. If the Governineut had already conunaudeered any goods, the tax could be collected, just the same on so much per lb. as they were delivered into store, and charged to the original owner.—l am, BEBNAKD TEIPP. Gleniti, Timaru.