Salt Lake Telegram | 1921-09-04 | Page 28 | Britain Groans under Heavy Tax Burden

BRITAIN GROANS GROAN UNDER HEAVY TAX BURDEN Obligations Multiply as War Fades in Distance McKenna McKenna McKenna Mc- Mc Kenna Sees Crash in inthe inthe inthe the Not Distant Future By Newspaper LONDON LONDO Sept 3 3 Is Is Britain going goIng soing go- go Ing bankrupt Today tho the question is being asked by seriously concerned and eminent authorities like Reginald McKenna Mc- Mc Konna Kenna former chan chancellor ot of the exchequer ex exchequer exchequer ex- ex chequer and great British authority on finance say eay it il must be answered Inthe in inthe the tho affirmative unless ss taxes are aro re ra- ra All Alt available facts and figures support support Sup Sup- sup sup- port their contention Today Britain is raising taxation of ot h her r people nearly seven times as much muchas as she ehe did before the war Through severe ere In industrial al depression has reduced tho the tax bearing cap capacity of ot the nation the burden tends to be become ome heavier hea of ot lighter HOW BILLS CLIMB It is nearly three yen years since tho the war was won by tho the allies but Britain's burden of ot taxation is higher toda today than it was at an any stage of oC the tho war Here are tho the figures showing tho taxation levied lo for the last B seven ven years Year Tear Pounds 1914 1914 1015 1916 1917 1017 1918 1919 1920 1920 The figures for tor the present year aro are not yet et available but hut it Is 18 expected ed that they will bo be higher than those of ot last year ear The central fact of ot an ex exasperating exasperating ex- ex situation for tho the British taxpayer Is la this Whereas In prewar days das the state took tenth one-tenth of ot tho the annual wealth produced in ta taxes es today it takes ono- ono third Whereas In form former r years it was recognized rec recognized reo- reo o that taxes should be lightened d das as trade trado was depressed the tho present tendency is la to add heavier burdens with each d decline in productivity NO ONE ESCAPES Before the war income tea tax ranged around to a shilling on the thep p pound und and the exemption figure was vms Io 0 o high that only comparatively prosperous pros pros- porous persons persona paid Now the tax Is six shillings shilling on the iho pound and not noten oven even en tho the workman earning the equivalent of ot 10 a a. week escapes while such articles of ot general consumption as tea sugar sugu beer wines winos spirits tobacco are taxed from five the to tw twenty nty times higher than In prewar days day During the war when fortunes were being made mado right and loft lott and prosperity reigned nobody compla complained ned much But with the coming coming- of ot the hard bard times everyone feels th the tho burden Business men are finding it in increasingly increasingly In- In difficult to carry on The weekly statistics of of tho to government record the closing down of ot factories and plants and the increase in the unemployed arm army which is now close clOS to two millions BANKRUPTCY AND DEATH Not even bankruptcy and death bring to the overburdened taxpayer the relief t that he ml might ht expect If It Ithe he chooses bankruptcy he finds that the government takes the lions lion's share of his estate in increased stamp duties dillies and other ch charges If It he chooses death duty is charged on the estate ranging from rom 2 per cent on property valued at BOO pounds to more than 40 per cent on capital in c excess cess of ot two millions Taxation at tho the rate rato of ot E. E 22 2 Is Gd per head is Is' levied on the tho British people men women and children With the prevailing pre depression thousands thousand of or workmen are unable to pay the Income e tax and all over the country their homes are arc sold to meet tho taxpayers taxpayer's demands Discontent among tho the workers on this account ha has become so ISO acute acuto that L London magistrates havo have warned the against the toll folly of ot their action WARNING Reginald has declared that the taxable capacity of ot Great Britain is being exceeded b by nearly five fhe hundred million pounds a year earIn ear In his latest reference to th tha subject ho he said We must reduce this burden and reduce it at on once o. o to reasonable size sire Otherwise Other I can see nothing but ruin and dl disaster ahead ohead of ot us and if It the present rate rato of ot taxation and expenditure expenditure expendi- expendi ture turo is 18 maintained ruin will wUl como come to tous tous I us sooner than wo we realize reaUze at present