CHAPTER X PROBLEMS OF TAX BURDEN ROBLEMS of tax shifting and final incidence are P among the most difficult found in taxation, as well as in economic theory. Although a tax is paid by an individual or a corporation, it does not follow that the burden rests on the payer. It is generally agreed that certain kinds of taxes cannot be shifted except under very unusual condi- tions, that other taxes are always shifted, and that taxes which do not fall in either of these categories are shiftable in varying degrees. Much of the theory concerning the shifting and final incidence of taxation is speculative or hypothetical in nature, and the research investigator must, in many cases, approach specific problems by means of hypothetical ex- amples. In other cases, it is possible to obtain data bearing on the question, and such conclusions may be reached as the data seem to warrant. In the present study it is proposed to consider (1) the burden on tangible and intangible property, (2) the burden of the Missouri income tax with specific reference to the arban nature of the tax, (3) the tax burden on corporations, (4) the burden on state and national banks, and (5) the burden of motor vehicle taxation. In some instances it will be found that the available information is hardly sufficient to justify any conclusions. When it is not possible to analyze a problem thoroughly, its nature will be pointed out, and the information necessary for its solution will be indicated. Tue BurDEN ON TANGIBLE AND INTANGIBLE PROPERTY It is frequently contended that tangible property, particu- arly real estate, bears a disproportionate share of the Mis- souri state and local tax burden, and that intangible prop- erty is paying much less than its share. For purposes of llustration, let us assume that A owns real estate in an Yi7