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With an immense debt already burdening the incomes of the industrial and laboring classes, a due regard for their interests, so inseparably connected with the welfare of the country, should prompt us to rigid economy and retrenchment, and influence us to abstain from all legislation that would unnecessarily increase the public indebtedness.
Chapin, "are able, in general, to get food enough to keep body and soul together, and clothing and shelter enough to meet the most urgent demands of decency." Regarding incomes below $900, he says, "Whether an income between $800 and $900 can be made to suffice is a question to which our data do not warrant a dogmatic answer."
Our exports being diminished, we should have to pay a balance in money. This would raise, in foreign countries, the price of everything which we import from thence: while our incomes, being reduced in money value, would render us less able to buy those articles even if they had not risen.
You will perhaps say to me that may be all very well, but are you sure that the rich and the very rich are not being burdened too heavily? Are you sure that you are not laying on the backs of people who are struggling to support existence with incomes of upwards of £3,000 a year, burdens which are too heavy to be borne?
The history of Place's agitation is fully given in Mr. Graham Wallas's Life, chap. viii. Wallas's Francis Place, p. 217. First published in 1807-8. Letter iii. Ibid. vi. Sydney Smith put very ingeniously the advantages of what he called the 'lottery' system: of giving, that is, a few great prizes, instead of equalising the incomes of the clergy.
We are not concerned with combinations of words. If the prices of goods are above the incomes of the people, then get the prices down to the incomes. Ordinarily, business is conceived as starting with a manufacturing process and ending with a consumer.
We are its guardians, its champions, its ministers, and never did the servants of truth apply force with such minute detail and such effect to the extirpation of error. V. Equality and Inequality. Social inequality. Malice of the aristocratic race. Measures against the King and Nobles. Malice of the aristocracy of wealth. Measures against landowners, capitalists and people with incomes.
One of the greatest mistakes made by writers who describe our manners and morals is to harp on old portraits. In these days all trades change. The grocer becomes a peer of France, artists capitalize their money, vaudevillists have incomes.
The Compromise Tariff Act of 1833 which Clay was weak enough to concede, and even stout old Jackson to permit to become law without his signature gave to the Conspirators great joy for years afterward, as they witnessed the distress and disaster brought by it to Northern homes and incomes not distress and disaster alone, but absolute and apparently irreparable ruin.
Indeed, the national taxation of incomes might almost be regarded as a mandate of the people of the United States. At any rate, it was a foregone conclusion that the adoption of the constitutional amendment would be immediately followed by the enactment of an income-tax law. It is the object of the present article to give a general description of the income tax.
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