The ABC of taxation

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Monograph

Identifikator:: 1010741608

URN:: urn:nbn:de:zbw-retromon-21094

Document type:: Monograph

Author:: Fillebrown, Charles Bowdoin

Title:: The ABC of taxation

Edition:: Fourth edition specially revised

Place of publication:: Garden City, New York

Publisher:: Doubleday, Page & Company

Year of publication:: 1916

Scope:: 1 Online-Ressource (236 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part III. Other essays and addresses

Collection:: Economics Books

REGULATION OF PUBLIC UTILITIES 137 I The great lack to-day is not so much in the general wisdom and honest intention of the people or their representatives as it is a lack of understanding of certain general principles of simple application; the longer this understanding is deferred the harder the problem becomes. The President of Princeton says also: We have, in fact, turned from legal regulation to executive regulation. We have turned from law to personal power. But what we are here considering is legal regulation, executive regulation under law. What is needed is a Legislature to make wise general regulative laws, courts to interpret them, and a competent executive agency to administer them. Regulation by Rates, or by Taxation, or by Both Granting the probable establishment of the commis sion method, the endeavour of this chapter is to bring to the front, in the railroad and other public utility problems, the factor of taxation; not taxation for revenue; not taxation of future franchises or their capitalised earnings; but taxation of franchises already granted and exploited and capitalised, together with earnings already capitalised — taxation of present franchise earnings to bring them into the public treasury, instead of leaving them in private hands; not the taxation of the earnings of industry, but the appropriation by taxation of the dividends that are earned by the public; to the end that the profit of "operation” shall go to skill and enterprise, and the profits of the franchise shall go to the people, o If there is one problem, National and state, that

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