New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-10
AN IDEAL INCOME TAX.

We may presently have to rank NJ Callaux
as the foremost fiscal genius Of the age. 1t used
to be said of Mr.. Gladstone that he invested the
statistics and estimates of n budget with the
glamour of poetry and romance. NJ. CaillauX
does more than that He promises the perform
ance of the putatively impossible and makes at
tractive and desirable in the highest degree that
which has hitherto been regarded with the deep
est repugnance. Incidentally, he exhibits
valor which alone should make him famous
for he has actually introduced that income tax
proposal which innumerable finance ministers
before him talked about volubly enough, but left
enshrouded in clouds of talk. Just to do that
would be a brave performance. TO make the
tax what VI. CallauX promises to make it must
be reckOned little short of sublime.
For this is to be tax which will establish
IAN absolute equality of charges" suppress I'M
justifiable privileges, exact appropriate taxation
from certain classes of incomes which are now
wholly or partly exempt and tighten the now
undue burdens Of the less fortunate members OF
the community. To those ends ii must be n
graduated or progressive tax. Great incomes
must pay at n higher rate than average incomes
and average incomes than small incomes More
over rates will vary according to the source of
the income. Incomes from inherited estates Will
he taxed at n higher rate than those from active
capital amaSSed by the owner and those from
capital higher than those from labor. If man
receives incomes from various sources, they
will be classified and taxed separately, and
then surtax will be levied upon the whole.
It will occur to the reader that in this NJ
Caillaux is outlining for himself and his lieu
tenants and aids formidable task, TO compute
and levy so intricate system of taxation. But
even that is not all. the worst Of It For he
assures that this system Is TO have nothing
arbitrary about it" and is TO exclude any kind
"of inquisition into mans private affairs. such
"as an examination Of his books" If that Is
not proposing the impossible we should Ike to
know what extraordinary circumstances exist
in France or are TO exist which Will make II
possible. If every mans income is to be exactly
known in all its details without arbitrary in
QUESTION, it must be either that the assessors
VIII be gifted with perspicacity approximating
that OF Omnlscence. or that ali Frenchmen are
TO develop and practise generous sincerity such
as we had scarcely expected to find outside of
Utopia.
Whether or not NJ. Caillaux completely fufls
these most comprehensive and imposing prom
ises, there IS little question that his measure is
a highly interesting one, well worth the studious
attention of state financlers the world around.
That it will be pushed by him with resolute
vigor IS not TO be doubted, for he is a man not
given TO trihlng 10 half measures. 1t is told
that the other day clique OF bankers began en-
cheering a bear" movement against French
government bonds, hoping thus to brighten par
lament into rejecting his income tax proposals,
whereupon he sent for the leaders Of the move
ment and warned them that II they carried out
their plan and forced down the price Of rentes
he would bring in a bill requiring every bank
ing house to invest half its deposits in those
securities, with the result that there a
lightning transformation Of urslne into bovine
operators Such n finance minister aS that Is
capable of great things and is worth watching.