Report of the Hearing on the Subject of Increasing the Tax on Savings Banks; Containing the Argument of Hon. Francis E. Parker, with Assitions, the Evidence of Officers of the Savings Banks, and the Report of the Legislative Committee
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Home > Art, Film & Photography > Report of the Hearing on the Subject of Increasing the Tax on Savings Banks; Containing the Argument of Hon. Francis E. Parker, with Assitions, the Evidence of Officers of the Savings Banks, and the Report of the Legislative Committee
Report of the Hearing on the Subject of Increasing the Tax on Savings Banks; Containing the Argument of Hon. Francis E. Parker, with Assitions, the Evidence of Officers of the Savings Banks, and the Report of the Legislative Committee

Report of the Hearing on the Subject of Increasing the Tax on Savings Banks; Containing the Argument of Hon. Francis E. Parker, with Assitions, the Evidence of Officers of the Savings Banks, and the Report of the Legislative Committee


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1871. Excerpt: ... altogether, if he did not place his money in the bank; and this tax, during the last year, amounts to more than $258,000, --nearly of one per cent. If these estimates are correct, the Savings Banks pay already to the State as high a rate as their depositors would pay. But this is not the whole strength of our argument; there is one other point which should not escape notice and consideration. In laying a tax, the assessors never expect to reach all personal property. They well know that a large amount will escape their inquiries. Mr. David A. Wells, in one of his recent valuable publications, represents the amount of personal property which escapes taxation with the best assessors, and in the most honest community, as enormous, --so great, indeed, that he recommends raising our taxes by some other method. But suppose it to be only 20 per cent, which, in Massachusetts, goes untaxed. The assessors of any town, at the beginning of the year, know just how many dollars they have to raise for that year; and if 20 per cent of the personal property is concealed and out of their reach, all they can do is to make their rate so much higher on what property they do know. If they have to raise a million of dollars for the year, and the personal property on which they ought to assess it is one hundred millions, they will make a rate of one per cent; but, if they can only get at eighty millions of this property, they must make their rate one and a quarter per cent, in order to raise their million. And this is, in fact, the way in which our present average rate of 15.44 on the thousand is made; it is made on the assumption, that the entire property will not be reached. Now nothing can be more unfair, than to fix our rate a fourth higher, on the ground that we are to asses..


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Product Details
  • ISBN-13: 9780217454988
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 24
  • Spine Width: 1 mm
  • Width: 189 mm
  • ISBN-10: 0217454984
  • Publisher Date: 01 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 64 gr


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Report of the Hearing on the Subject of Increasing the Tax on Savings Banks; Containing the Argument of Hon. Francis E. Parker, with Assitions, the Evidence of Officers of the Savings Banks, and the Report of the Legislative Committee
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Report of the Hearing on the Subject of Increasing the Tax on Savings Banks; Containing the Argument of Hon. Francis E. Parker, with Assitions, the Evidence of Officers of the Savings Banks, and the Report of the Legislative Committee
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