First published in 1919, Taxation in the New State explores the practical application of tax policy to the financial situation of post-World War I Britain. Hobson assesses policy according to the tax payer's ability to bear the burden and draws a distinction between 'cost' and 'surplus'. He proposes a number of reforms and considers the pitfalls of attempting the find required revenue using ordinary taxation in a post-war financial crisis.

First published in 1919, Taxation in the New State explores the practical application of tax policy to the financial situation of post-World War I Britain. Hobson assesses policy according to the tax payer’s ability to bear the burden and draws a distinction between ‘cost’ and ‘surplus’. He proposes a number of reforms and considers the pitfalls of attempting the find required revenue using ordinary taxation in a post-war financial crisis.

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Excerpt from Taxation in the New State Now, theory and practice alike attest the need of amending this maxim by a recognition that such parts of the revenue of any one as are physically or morally necessary to evoke and maintain the output of productive power which serves to create this revenue, should be excluded from the purview of this test as possessing no ability to bear taxation. All taxes which fall directly or indirectly upon this part of revenue are bad taxes, impairing the sources of production if they are borne, and causing waste and confusion if, as will usually happen, they are shifted on to some surplus element of revenue. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Excerpt from Taxation in the New State Even before the war the growing need of large revenue in order to meet the new demands upon the modern State was bringing the problem of taxation into a place of increased prominence in the politics of every civilized nation. Non-remunerative State services were continually increasing in number, scope, and intricacy, and the annual bills kept mounting up. In some countries the increased expenditure could be largely met out of income from public properties or remunerative services. But in Great Britain and in other countries the pressure for increased tax revenue was strongly felt; and new sources of this revenue were being explored. The war, with its legacies of indebtedness and its large sudden demands of State expenditure for reconstruction, must force every intelligent citizen to consider closely how a tax-income, at least three or four times as large as the pre-war sum, can best be raised. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.