The nature of capital and income

Bibliographic data

Monograph

Identifikator:: 102659555X

URN:: urn:nbn:de:zbw-retromon-82920

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The nature of capital and income

Place of publication:: New York

Publisher:: The Macmillan Company

Year of publication:: 1923

Scope:: XXI, 427 Seiten

Digitisation:: 2019

Collection:: Economics Books

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

APPENDIX TO CHAPTER XIV 399 ¢—a. As the rate is, the tax is (¢c—#)t. The discounted value of this tax is c—o)t This deducted from the discounted value, iy of next year’s capital-value is this year’s capital- value, z; i.e, — PO A, a. ivi 1+ Solving for z, we have, a= Lan 1—t+417 The tax itself is #(¢ — =), which, if we substitute for its value cit 1-741 If we substitute for ¢ and ¢ their assumed values, .05 and .10, we have =e X .J947 and tax = ¢ x .0053. Substituting for ¢ its value at the end of the fifteenth year, namely, $18,000, we find that , the value one year earlier, will be 18,000 x .957, or $17,046, and that the value one year previous will be the latter sum multiplied likewise by .947, or $16,142.56, and so on until the present is reached, when the value will be $7,952.15. The table below will show, there- fore, the total effect of a 109, tax on the increase of value, just found, reduces to CAPITAL-VALUE INCREASE Oe Carma "| 109 Tax TaEREON Beginning $ 7,952.16 enn “iwi End of 1year 8,397.20 $445.06 $44.51 End of 2 years 8,867.27 470.07 47.01 End of 3years 9,363.54 496.27 49.63 End of 4 years 9,887.58 524.04 52.40 End of 5years 10,440.95 553.37 55.34 End of 6 years 11,025.29 584.34 58.43 End of 7 years 11,642.33 617.04 61.70 End of 8years 12,293.91 651.58 65.16 End of 9years 12,982.06 688.15 68.82 End of 10 years 18,708.62 726.56 72.66 End of 11 years 14,475.84 767.22 76.72 End of 12 years 15,286.00 810.16 81.02 End of 13 years 16,142.56 856.56 85.66 End of 14 years 17,046.00 903.44 90.34 End of 15 years 18,000.00 954.00 95.40

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