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The World's Work Volume 32

The World's Work Volume 32


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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. 1916 Excerpt: ...evidences of de with certain exceptions... so that upon a per cent, bond the actual tax is but three tenths of per cent, of the principal, or $3 per thousand, compares with the burdensome tax averaging ab $20 per thousand which from time immemorial state had been impotently trying to collect. The tax being at a fair rate makes it commercially possib for investors to be honest in their tax schedules, and it is confidently anticipated that the net result will be an actual collection of tax moneys greatly in excess of the amount received under the old impossible system." Massachusetts is the second commonwealth to adopt this form of state taxation, Wisconsin having adopted such a tax in 1912. The newest law, however, as the Investment Bankers' bulletin points out, "is notable for a number of variations from both the Wisconsin and the Federal income tax plans. One of the most striking of these changes is the elimination of the graduated rate of taxation. In both the Wisconsin and Federal acts the rate rises as the income rises. The effect of this is to make the burden of taxation increase doubly as income increases, and the purpose was frankly to shift a doubly large proportion of the taxes upon the well-to-do. It had been argued that a graduated rate was necessary for the political success of income tax legislation, but the experience of Massachusetts to have disproved that claim." How the Massachusetts investor will benefit from the operation of the new plan is obvious from the comparison of rates of taxation under the new law and the old. There is no doubt that this state will be a much better market for high grade bonds than it has ever been before. NATIONAL BANKS AND REAL ESTATE LOANS The following informal ruling of the Federal Reserve Boar...


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Product Details
  • ISBN-13: 9781232291237
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 436
  • Spine Width: 23 mm
  • Width: 189 mm
  • ISBN-10: 1232291234
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 776 gr


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