Separation of State And Local Revenues in the United States
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' Ibid., p. 90.
367] SEPARATION IN NEW YORK 73 the important manufacturing states, except Pennsylvania.
More than this, in New York the ratio of the percentage of total revenues paid by manufactures to the percentage of total wealth invested in manufactures is smaller than in any other state/ The assessment of the special franchise apart from the rest oi the corporate property is impossible. The local taxation of capital stock is a farce. Local assessment O'f the real estate of public utilities... is absurd. Such are some of the objections, and they are serious ones. Simplifi- cation, centralization, and uniformity are sadly needed. But there is nO' reason why they should not be realized. Sep- aration does not prevent their attainment. California under complete separation has met these difficulties with fair suc- cess. With the equalization of these corporation taxes through a gross or net earnings tax, revenues could be greatly increased without in the least injuring the taxpay- ers. Taxes in New York are very high, but wealth in New York is enormous.
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To quickly assess the difficulty of the text, read a short excerpt:
' Ibid., p. 90.
367] SEPARATION IN NEW YORK 73 the important manufacturing states, except Pennsylvania.
More than this, in New York the ratio of the percentage of total revenues paid by manufactures to the percentage of total wealth invested in manufactures is smaller than in any other state/ The assessment of the special franchise apart from the rest oi the corporate property is impossible. The local taxation of capital stock is a farce. Local assessment O'f the real estate of public utilities... is absurd. Such are some of the objections, and they are serious ones. Simplifi- cation, centralization, and uniformity are sadly needed. But there is nO' reason why they should not be realized. Sep- aration does not prevent their attainment. California under complete separation has met these difficulties with fair suc- cess. With the equalization of these corporation taxes through a gross or net earnings tax, revenues could be greatly increased without in the least injuring the taxpay- ers. Taxes in New York are very high, but wealth in New York is enormous.
What to read after Separation of State And Local Revenues in the United States?
You can find similar books in the "Read Also" column, or choose other free books by Newcomer, Mabel, B. 1891 to read onlineMoreLess
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