A critical dissertation on the nature, measures and causes of value

The fiscal problem in Missouri

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Monograph

Identifikator:: 1858887097

URN:: urn:nbn:de:zbw-retromon-271916

Document type:: Monograph

Author:: Bailey, Samuel http://d-nb.info/gnd/1055121706

Title:: A critical dissertation on the nature, measures and causes of value

Place of publication:: London

Publisher:: The London School of Economics and Political Science (University of London)

Year of publication:: 1931

Scope:: xxviii, 255 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XI. On the Causes of Value

Collection:: Economics Books

GENERAL SUMMARY 339 expenditures for capital purposes recommended by the State Survey Commission are taken as the basis for the discussion of this problem. The total expenditures for capital outlays and extraordinary repairs, as recommended by the Commis- sion for a ten-year period, amount to $39,615,000. The principal amounts included in this total are for buildings at penal, eleemosynary,and educational institutions. Smaller amounts are included for public school buildings, a state office building, and a new governor’s mansion. In view of the very small capital expenditures for other than highway pur- poses in recent years, there is little doubt that a large part of the total is in the nature of an accumulated deficiency. This conclusion is substantiated by the several reports of the State Survey Commission. A large part of the capital expenditures of the state in the immediate future will be for buildings that have long been needed by the penal and eleemosynary institutions. If these expenditures were to be met entirely out of currentrevenues, there would undoubtedly be further delay in providing the buildings that are badly needed at the present time. The same applies to certain buildings that are needed at the state educational institutions. It seems clear that a pay-as-you- go policy is not applicable as a method of financing such capital requirements as are in the nature of an accumulated deficiency, and serious consideration should be given to a bond issue as a means of eliminating the present deficiency. ProsLEMs oF Tax BURDEN Problems of tax burden considered in this study include (1) the burden on tangible and intangible property; (2) the burden of the Missouri income tax, with specific reference to the urban nature of the tax; (3) the tax burden on corpora- tions; (4) the burden on state and national banks; (5) the burden of motor vehicle taxation. Although it is usually contended that tangible property, particularly real estate, bears a disproportionate share of the state and local tax burden and that intangible property is paying less than its fair share, it appears that intangibles which are actually reached under the general property tax are

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