BRITAIN’S NATIONAL INCOME
HOW THE RICH ARE TAXED Rugby, February 18. Details of the nation’s income are given in the report of the Inland Revenue Commissioners for the year ended March 31, 1927. The gross income of the nation for the year was £2,944,000,000, and the gross amount of inland revenue' duties, etc., collected was £449,000,000. Ihe cost of collection was 1.61 per cent. How the rich pav is also shown. A man with £150,000 a year spends nearly half his income—9s 7d. in the pound—on income and super-tax. All those receiving more than £2OOO a year (thus becoming super-tax payers) contribute £66.000,000 to the State, and death duties amount to 40 per cent, in the case of a £2,000,000 estate. —British Official Wireless.
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Dominion, Volume 21, Issue 122, 21 February 1928, Page 9
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124BRITAIN’S NATIONAL INCOME Dominion, Volume 21, Issue 122, 21 February 1928, Page 9
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