The ABC of taxation

Bibliographic data

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 I. The three legs of the Tripos

Collection:: Economics Books

VALUE OF LAND AN UNTAXED VALUE 47 classes, corresponding to, or intended to countervail, the land- tax. The whole of it, therefore, is not taxation but a rent- charge, and is as if the State had retained, not a portion of the rent, but a portion of the land. It is no more a burden on the landlord, than the share of one joint tenant is a burden on the other. The landlords are entitled to no compensation for it, nor have they any claim to its being allowed for, as part of their taxes. Its continuance on the existing footing is no infringe ment of the principle of equal taxation.”—Mill, “Principles of Political Economy,” Volume II., Book V., Chapter II., Section 6. “A more difficult and disputable point arises in connection With the incidence of a long continued land tax. Here it is said that the tax is really a deduction from property. As land is sought for its revenue, what lowers its revenue lowers its selling price, and therefore a land tax falls altogether on the Possessor at the time of its imposition. Subsequent acquirers take the land subject to the burden, and pay a lower price in consequence. This process of “amortisation,” as it has been called, makes the subsequent removal of the tax undesirable; the persons who have lost by its establishment are not the same as those who gain by its remission. A purchaser has got land cheaper, and gains a further advantage by escaping the tax; m fact he is allowed for it twice over, once at the time of purchase and again at that of remission. ‘The element of truth in this theory, which has received much favour, appears to be the following: (i) as previously pointed ° u t, when a land tax becomes definitely fixed so that it can be foreseen, or even capitalised and redeemed, there is no inaccuracy ln speaking of it as a charge on land, which lowers its selling price; it is just the same as a mortgage, and is so regarded by Purchasers.”—Bastable, "Public Finance” {1903), page 440 If a certain tax is levied and it is expected that itwill continue to be levied indefinitely in the future, it will reduce the selling

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