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
As to these taxes Dr. Spahr says that “from the incomes less than $1,200
less than three per cent is taken; from the incomes above $5,000 seven
per cent is taken. Nevertheless, even these relatively [SN: THE TOTALS
OF TAXES PAID IN SEVEN YEARS.] humane burdens rest twice as heavily upon
the property of the poorer classes as upon the property of the rich.
When these local taxes are joined with the national, the aggregate tax
is one-twelfth of the income of every class. There is no exemption of
wages. All the resourceless individuals,[172] even the absolute slaves
of dividogenesure, who divide the results of their labor with the
wealthy, are compelled to pay taxes from their wages. And “the
wealthiest class is taxed less than one per cent on its property,” says
Dr. C. B. Spahr, “while the mass of the people are taxed more than four
per cent on theirs.”[173] Consequently we see that the 1,695,117
families whose wealth, at the end of 1897, aggregated to $79,325,000,000
worth, paid $3,455,963,952 of the national and local taxes. While the
12,755,310 families whose aggregate wealth, at the same time, was
reduced to about $7,000,000,000 worth, also paid $2,354,179,059 of these
taxes, though these families could not have any net income at all.
Whatever might be the gross income of the 12,755,310 increased families
under the network of imposition spread by the combines, they could not
have any net income [SN: THE PROPERTYLESS IN 1897.] at all, because at
the end of 1897 these families represented about 63,150,136 individuals
of a multiple expenditure in every individual case. And as these
families include about 7,832,640 propertyless families which represented
about 38,785,279 homeless individuals, each of which in addition to his
multiple expenditure, is obliged to pay rent for shelter and to pay for
permission to labor, the multiple expenditure of every one of these,
therefore, surpasses that of each individual of the remainder of the
population.
It would, however, be wrong to suppose that we had only 7,832,640
propertyless families at the end of the period. For beside these
families there were thousands of the mortgagor [SN: NOT ALL THE
PROPERTYLESS COUNTED YET.] families in the beginning of 1891 which held
the last pieces of the mortgaged property. And they could not but lose
the very last under the heavy pressure of the combines and of the
taxation, thus becoming propertyless, too, though we are unable at
present to ascertain their number. Yet we may be sure of the fact, that
the more propertyless families we have, the more house and farm rent
they must pay to the wealthy; and hence the more rapid the concentration
of the wealth and more extensive slavery of dividogenesure must be
caused thereby.
Public-domain text, read in full here on John Shaqi.
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