The impending crisis : $b conditions resulting from the concentration of wealth in the United StatesBouroff, Basil A.
History
The impending crisis : $b conditions resulting from the concentration of wealth in the United States
Bouroff, Basil A.
Trusts, Industrial; United States -- Economic conditions; Wealth
“When we consider only the revenues actually received by the government
the conclusion inevitably [SN: THE PROPORTIONS OF INDIRECT TAXES.]
reached is that the wealthy class pays less than one-tenth of the
indirect taxes, the well-to-do class less than one-quarter and the
relatively poorer classes more than two-thirds. The table summing up the
incidence of these taxes in 1890 would stand as follows:
+-------------------+---------------+----------------+-------------+
| Class of Incomes. | Total Incomes | Total Property | National |
| | in Dollars. | in Dollars. | Taxes +
| | | | in Dollars. |
+-------------------+---------------+----------------+-------------+
| $5,000 and over | 3,110,000,000 | 35,500,000,000 | 35,000,000 |
| $5,000 to $1,200 | 2,890,000,000 | 21,500,000,000 | 85,000,000 |
| Under $1,200 | 4,800,000,000 | 9,000,000,000 | 260,000,000 |
+-------------------+---------------+----------------+-------------+
+-------------------+---------------------+
| Class of Incomes. | Taxation to |
| +---------+-----------+
| | Income. | Property. |
+-------------------+---------+-----------+
| $5,000 and over | .01 | .001 |
| $5,000 to $1,200 | .03 | .004 |
| Under $1,200 | .05 | .028 |
+-------------------+---------+-----------+
The above table of indirect taxes indicates that the poorer classes
(including the homeless and landless) which had only little over
$9,000,000,000 worth of the aggregate wealth, paid more than twice as
much of these taxes as did the well-to-do and the wealthy classes taken
together. Dr. Spahr, therefore, adds:
“In the domain of direct taxation such injustice would not be tolerated
one month, [SN: THE INDIRECT TAXES PAID.] but in the domain of indirect
taxation it is endured year after year.”[167] So that, enduring similar
injustice seven years—from 1891 to 1897 inclusive, the increased number
of families paid the totals of indirect taxes approximately as follows:
Table of Indirect Taxes Paid, 1891-7.
-------------------+------------+-----------------+----------------
Classes | | Totals |
of Families. | Number. | of Property. | Taxes Paid.
-------------------+------------+-----------------+----------------
Families worth | | |
$5,000 and over | 1,695,117 | $79,825,000,000 | $ 840,000,000
Families worth | | |
under $5,000 | 12,755,310 | 7,000,000,000 | 1,479,179,059
-------------------+------------+-----------------+----------------
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account