THOUGHTS FOR THE TIMES.

Hokitika Guardian, 4 March 1931, Page 4

THOUGHTS FOR THE TIMES.

THE POSITION ANALYSED. ' The weakness in Mr Holland’s criticism of tbe Forbes’ proposals lies, says the Auckland Star, in his failure to face facts. He tries to show that the country is not so badly off as Mr Forbes declares it to be, but the figures tell their own story. In 1930 there was an officially estimated drop of ten and a half millions in exports, which may err considerably on the wrong side. The Prime Minister estimates that, this year the return will be several millions less. The plain truth is that the community’s income has been sadly diminished, and there is no certainty that it will be restored in the immediate, future: therefore the nation, like an individual or a family, must alter its way of living. It is true that tbe heavy burden will fall on the wage-earner, but. will it be heavier than that borne by many farmers? It is the producer on whom the country lives, and the producer is hard hit. Capital is suffering great loss in decline of interest and writing off of principal. Air Holland advocates a super income tax, but this tax was raised last year, and Air Forbes proposes to raise it again. There is a practical limit to this form of taxation.