Excerpt from Suggestions for a General Equalization of the Land Tax: And the Abolition of the Income and Real Property Taxes, and the Malt Duty

IT is unnecessary to occupy time or space in proving the immense advantage that must accrue to the community at large by the abolition of the Real Property and Income Tax, and of the duty on Malt. The depression caused by the Income Tax in commercial matters, and the stagnation to which many branches of trade have through its pressure been reduced, are unfortunately so well known that even comment upon them is superfluous. Excessive Speculation has undoubtedly produced its share of mischief; but those who have invest ments in rail-roads, in steam-boats, and in gas companies, (which are quoted by way of example as the most prominent among proprietaries affected by any general commercial prostration, ) can too well attest the depreciating effects of the Property and Income Tax. Nor is a partial stagnation of trade the only evil consequence of a lengthened continuance of this tax; for the feeling of dis content engendered by it among the middle classes tends to far more serious results than those pro duced by mere pecuniary pressure.

In any other free country besides Great Britain the imposition of a perpetual Income Tax, with all its inquisitorial accompaniments, would be the germ of a revolution. Happily the loyalty and good sense of Englishmen are too solid and pro found to be affected by any revolutionary mania, however fashionable it may have become; but their discontent is not the less deserving of atten' tion, nor is it the less incumbent on their rulers to relieve them, as far as practicable, from any burthens which are proved to be unnecessarily Oppressive.

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