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.

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Document type:: Monograph

Structure type:: Chapter

Title:: Part III. Other essays and addresses

Collection:: Economics Books

146 THE A B C OF TAXATION as a whole, keen, adroit, and sensitive to every change in the industrial world, would turn to with their magnificent forces and abilities and work with the commission instead of against it.” Skill and enter prise, and public exigency, instead of selfishness and greed, would provide the initiative for legitimate extension and development. The Public: Its concern is to reap from its own business, delegated to private hands, a fair return, whether it be by lower rates or higher taxation. The public utilities commission, composed of men of good judgment and incorruptible honesty, its functions being supervisory rather than managerial, will fix upon a fair capitalisation, and will determine when and what gross reduction in current or accumulated earnings the administration should proceed to effect through the reduction of specific rates. By the municipalisation of the franchise the main motive for “stock watering and corporation wrecking” or for “underpaid or over worked employees or false economies ” will be destroyed. Whatever “rebates,” “stock watering,” and “corporation wrecking" survive the assumption of the franchise by taxation, the commission will prevent under statute. The value of the franchise will be gradually absorbed through reduction of rates, leaving, however, a substantial margin as the best possible index and basis for taxation and regulation. This marginal surplus would serve the purpose of equalising conditions from year to year, bridging over lean financial periods, and thus securing more fully the stability of the fair profits to capital invested. To sum up, it is my contention that, with railways privately owned, publicly regulated, and taxed approxi

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