THE INCOME TAX.

Wairarapa Daily Times, Volume XIII, Issue 4035, 11 February 1892, Page 2

THE INCOME TAX.

Oplalofi. »! an English Liberal. A leading English Liberal M.P., who has the control of large investments in New Zealand, wrote by tbe last mail to a friend in Hnwke's Bay as follows:-"I have read all the debates in' your Parliament on the new Land and Income tax Assessment Ijill, and am'not at all satisfied witli the Act in the form in which jt passed the Houses. Agradualed'and absentee land tax seems to me to be vicious in. principle, I think the taxation should in allplasses bear the same proportion to income—if one man has an income ten timeß as much as another man's, thenlethira pay ten times as much (ay, hut no more, Jn estimate ing the amount of tax paid, indirect as well as direct taxes should be taken into account; and; if there should be difficulty in ascertaining exactly what proportion of income each man pays in taxes, then 1 think it very reasonable that care should be taken to so fe'yy taxes that the goor man should not pay an undue share, pii beyond this I would not'gb.' 1 The dxistence of capital is"au advantage and nof a dis™ ri|vaatago,'toaetfoFkirjgman j. the demamtfo'r his'labour Is in proportion to the capital in thecotintry, and that 'detuanfl will fall away 'if tie abouniuiatibn of capital diminishes, For.instance, jthe'hew 'prindiple of taxation causes me to hesitate about speeding more money jii ih)i,roveinents' ph my yiil mean less ojeman'ifor labour, ahd-in'this' oase vjllf'nbf the working man suffer more than I (tb'o capitalist) i 1 •;-,- ... .-';,