ABSTRACT
The whole income of the Super Tax class was only estimated at £280 million for 1917–1918, and from this total the sum of £94½ millions was extracted for Income and Super Tax. For the year 1918–1919 the proportion extracted by taxation has risen from one-third to more than two-fifths. Taking Dr. Stamp's figure of £16,000 million for the total value of privately-owned property one may calculate the income from it as about £880 million a year. This is less than a quarter of the suggested total for the national income, so that there is all the difference in the world for "the people who have money" between payment by Levy and payment by Tax. Some people who think that the alternative after the war is between a Capital Levy and a high Income Tax; they reckon that if there is a Levy they will pay it "once and for all" and start free from all worry about the War Debt.
