Sunday, January 21, 2007

The massive growth of income tax

In 1900 the government had a revenue of £6.195 million

Income tax provided only 2 percent of the revenue, slightly more than beer duty at 1.3 percent. The big ticket items were;

Customs duties 34%
Railways 26%
Stamps 14%

In 2005 Government revenue was $50.858 billion

Income tax provided 63 percent.

In 1900 the government played a constructive and very limited role. Today ...(add your own conclusion).

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