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The super-tax, it may be observed, occupies a position in the English system similar to that of the additional tax in the United States, serving to increase the tax upon the larger incomes in accordance with the principle of progression.
"And thank heavens you'll still have to pay us a little super-tax," the Cabinet Minister remarked, smiling. Sir Alfred found nothing to dismay him in the prospect. "You shall have every penny of it, my friend," he promised. "I have taken a quarter of a million of your war loan and I shall take the same amount of your next one.
Moreover, the progressive principle has recently been applied by imposing a "super-tax" on incomes in excess of £5,000, which also requires a declaration, the tax being necessarily assessed upon the possessor of the income and not at the source.
Plaistow if she did not find the super-tax a grievous burden on "our little incomes." ... Miss Mapp had drawn in her breath sharply, as if in pain, and after a few gasps turned the conversation.... Worst of all, perhaps, because more recent, was the fact that Mrs.
In order to understand the indignation caused by this announcement it is necessary to remember: 1st. That the Belgians were at the time already paying all the ordinary taxes, to the commune, to the province and to the State, so that this new contribution constituted a super-tax. 2nd.
On the basis of taxation at which it stood last year he estimates for an increase of £67 millions, income tax and super-tax on the old basis being expected to bring in £28 millions more, and excess profits duty £80 millions more, against which decreases were estimated at £3-1/2 millions in Excise and £37 millions in miscellaneous.
Other arguments might be adduced, which make it undesirable to increase the outstanding amounts of Treasury notes, but in the matter of inflation through addition to paper currency, it seems to me that the proposed tax is entirely blameless. The increase of a shilling in income tax and super-tax produced a feeling of relief in the City, being considerably lower than had been anticipated.
As it is, the nation, with all classes embittered owing to suspicions of profiteering on the part of the employers and of unpatriotic strikes on the part of the workers, will have to face a load of debt, the service of which is already roughly equivalent to our total pre-war revenue; while there seems every prospect that the war may continue for many half-years yet, and every half-year, as it is at present financed, leaves us with a load of debt which will require the total yield of the income tax and the super-tax before the war to meet the charge upon it.
"Oh, Mamma, may I stand by you, or behind you?" asked Isabel, completely dazzled by the splendour of this prospect and prancing about the lawn.... This was quite awful: it was as bad as, if not worse than, the historically disastrous remark about super-tax, and a general rigidity, as of some partial cataleptic seizure, froze Mrs.
That portion of the tax that is required for Sinking Fund might be made payable, at the option of the taxpayer, in Government securities at prices giving some advantage to the holder. This form of special debt-charge super-tax would enable the ordinary income tax to be reduced considerably at once.
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