On Friday week the French Chamber by 448 votes to
43 accepted the statement made by M. Poincare, the Minister of Finance, on the subject of the new Income-tax. Income will be divided into three classes,--that derived from capital, that derived from labour, and that derived from a combination of the two. The rate will vary in the different classes, and also according to the total amount of income, small incomes being exempt, and moderate ones paying on a low scale. Deduc- tions will be allowed according to the size of the taxpayer's family, so that the unmarried alone will bear the full burden. Revenues from labour will pay one-half and revenues from capital and labour combined three-fourths of the rate paid by revenues derived from capital alone. M. Poincare concluded his statement with an appeal to the middle classes, who are chiefly concerned, to look at the proposals in a public-spirited way, and accept the small sacrifices entailed by them. He described his scheme as the British system amended on the lines which Britain is likely soon to follow.
