The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-06-04
ENGLISH RICH Man
MUST PAY THIRD
Of INCOME IN
Man Having Income from
Five Million Dollars Gives
Government One Third of 1t
Under Lloyd-G George Income
Scheme.
BIG INCREASE IN DEATH
AND SUPER A DUTIES

London, June finder the new
scheme Of taxation introduced ny
David Lloyd George, chancellor Of the
cNchequer. In his budget Tor i914-l'.
q man having an Income from a cap
ital OF Eve million dollars VIII have
to pay one-third of his income IN
taxes.
In the first place he has TO paw
tive weight emit on every I'VE dol
lars In income tax. then he has To pay
a similar amount in super tax. and
when he dies enc dollar on every ave
uf what is lett has to be paid .or
death and estate duties, The total vs.
figured at Just under one-third Of the
income.
This calculation has been made ny
SIR william Lever one Of the million.
aires who vii have TO pay, but wh1
does not object.
II like a." ne said. I'm my view the
ideal system OF taxation, both local
Hhd imperial, is through the income
tt-, the super tax, death duties, land
tax. size value tax, ana taxation upSn
luAuries, such as alcohol, tobacco, etc.
Everything else free
while Mr.. Lloyd George has follow
ed his predecessors in his system ~
taxation, except that he has Increased
the rate OF Income and super-taN rme
dcSth duties, SO that the wealthy
have To pay the lions share, he hfs
core To other countries fu rsome 81
his ideas. HIS taxation OF site values
~ hascd on the law now ID VOGUE IN
British Columbia. while he has gone
TO the American income tex law sur
the idea of making money accruiag
10 british subjects from investments
abroad 20 pay It's shares OF taxation.
In recent years British capitalists
have made Immense investments IN
foreign countries. when the Income
from these Investments WAS brought
home to be spent, the government. un-
der the old law. levied Income tax
on H.. that is. when the government
could discover Il. But when the In
come was r%c-invested abroad. the old
law did not touch IL. Sow Lluy .
George say an Income uf British sub
jects resident in the United Kingdom
must contribute 10 the imperial rev
enue. These foreign Investments ara
estimated az oye o billion and q halt
dollars, and from this the chancellor
hopes 10 srcure &1.25O.O00 this year.
ana double tha amount next year
The total Increase OF revenue from
income tax and death duties this vepr
Will amount to something like $ii,-
zoe. 1000.
In spite az these increases. sip
George Parish, editor Of The Statist
says the burden Of taxation is much
smailcr than Il has been In modern
history. In 1850, when the eNpendi-
uuIe came 10 filR.000. zoe, n vas
raised out o. a national income 81
i've billion dollars. Now the n%atio1ai
Income reaches the enormous total ~
$4,000. 1000 40 II can easily stand
the increased expenditure. Sir Geurae
argues that England can bear still
greater Increases In her budget.
There are good grounds ne says.
FOR believing that tine income and
wealth OF this country will again dou-
bic In another thirty years. When u
reaches twenty-five billion dollars, and
! have NJ doubt that Il will within a
generation. a budget Of Two and a
half billion dollars will be borne mo-s
easily than she burden OF "a billion doh
lars in 1917