EACH PENNY OF INCOME-TAX.
[TO THZ EDITOR OP TEL "SPECTATOR."]
SIB.,-18 not the increase in the country's prosperity really greater than you state, and that increase hidden by a fact you niention ? Yeti. say (p. 540)—" The simple truth is, that the cry about bad times is a cry raised chiefly by the classes who, instead of accumulating profits as they used to do at a rate which produced a large fortune in a very few years, are now compelled to share those profits freely with their workmen, to the very great good of the whole community, though the result may be disappointing to those who have inherited the traditions of a previous generation." Is it not a fact that the greater number of these workmen who so largely share profits do not pay income-tax, and therefore any amount which goes into their pockets instead of those of their employers must deduct from the yield of the income-tax ? If, then, the profits of the employers cover this deficiency and advance in total notwith- standing (as shown by the increase of the tax), surely the gross total of profit (workmen's and employers') must be much larger
than you state.—I am, Sir, &e., W. J. B. 0.
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