AN ALTERNATIVE BUDGET.
LTO THE EDITOR OF THE " EPTOTAT011.1
SIR,—Your remarks upon "An Alternative Budget" in your last issue have been read with much interest. It seems to me that as the call for money is for exceptional expenditure it ought to be raised by exceptional means. To increase the Income-tax all round seems to me hardly fair. The taxation of capital in any form is ruinous to the " credit " of commerce, but an increase on income, however acquired, over and above the £5,000 minimum can hurt no one. As one who will be called to pay the sur-tax I venture to suggest that to meet the present exceptional outlay the sur-tax should be 6d. in the pound for incomes over £5,000 but under £10,000; ls. in the pound for incomes over £10,000 and under £15,000; 2s. in the pound for incomes over £15,000 and under £20,000 ; and over £20,000 3s. in the pound. I admit I should pay under the 3s. sur-tax ; but surely it is far better to pay on income rather than on capital, be it land or any other security which adds to the " credit" available for commerce, taxation on which must be detrimental to the true interests of the country. My humble opinion is : Tax income, but do not touch capital. Do not unduly tax the man of a medium income, but tax the large incomes for special and exceptional calls.—I am, Sir, &c., A CONSTANT READER.
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