The Anti-Income Tax Reformers are holding a great conference at
Birmingham, but it does not seem to come to much. The main idea of the speakers is that an income tax to be fair should be heavy on incomes gained without toil, and light on incomes obtained by brain work, which is only the old statement that as a trader or professional man must save and a landowner or fund- holder need not, the two are not equally well off, and ought not to be equally taxed. Nobody, however, appears to see how this idea can be worked out without pillaging the fundholder, who is guaranteed against special taxation, or creating an intolerable difference between individuals. One newspaper, for instance, may be worth ten years' purchase, and another two. The advocates for total repeal have produced a great many suggestions, but only one very original. Mr. Parry, of Birmingham, wants to levy one-tenth per cent. upon all banking accounts, which he says would yield seven millions a year. We dare say it would, at the price of an injustice to which the inequality of the Income Tax is a trifle. Just imagine a Chancellor of the Exchequer remedying that injustice by taxing the average balance of the Duke of Devonshire and of any great bill-broker equally!
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