ABSTRACT
Changing attitude towards the problem of taxation—Taxation as an instrument for the redistribution of income—The level of taxation before and after the War—The growth of national expenditure analysed—How the national revenue is raised—The National Debt—The problem of debt conversion—Repudiation impossible—The Capital Levy—The Colwyn Report and the proposed surtax—The Sinking Fund—The case for its suspension—The American debt—The Socialist way of wiping off the debt—The taxation of inheritance—The Death Duties—The Rignano Scheme—Dr. Dalton's proposals—A plan for the abolition of inheritance —The case of landed estates—Income tax and surtax—Suggested revision of the taxes on incomes—Customs and Excise—The incidence of indirect taxation—The liquor taxes—Tobacco—Sugar and Tea—Other indirect taxes—Protective duties and their yield—Prohibition of imports preferable to a tariff—Repeal of protective duties—Socialism and Free Trade contrasted—Luxury taxes—The effect of the proposed changes in taxation as a whole.
