HKB
After L500, the tax of 6d. per pound takes place on the second L500; consequently an estate of L1,000 per annum pays L2l, 15s., and so on.
Total amount For the 1st L500 at 0s 3d per pound L7 5s 2nd " 0 6 14 10 L21 15s 2nd 1000 at 0 9 37 11 59 5 3rd " 1 0 50 0 109 5 (Total amount) 4th 1000 at 1s 6d per pound L75 0s L184 5s 5th " 2 0 100 0 284 5 6th " 3 0 150 0 434 5 7th " 4 0 200 0 634 5 8th " 5 0 250 0 880 5 9th " 6 0 300 0 1100 5 10th " 7 0 350 0 1530 5 11th " 8 0 400 0 1930 5 12th " 9 0 450 0 2380 5 13th " 10 0 500 0 2880 5 14th " 11 0 550 0 3430 5 15th " 12 0 600 0 4030 5 16th " 13 0 650 0 4680 5 17th " 14 0 700 0 5380 5 18th " 15 0 750 0 6130 5 19th " 16 0 800 0 6930 5 20th " 17 0 850 0 7780 5 21st " 18 0 900 0 8680 5 (Total amount) 22nd 1000 at 19s 0d per pound L950 0s L9630 5s 23rd " 20 0 1000 0 10630 5
At the twenty-third thousand the tax becomes 20s. in the pound, and consequently every thousand beyond that sum can produce no profit but by dividing the estate. Yet formidable as this tax appears, it will not, I believe, produce so much as the commutation tax; should it produce more, it ought to be lowered to that amount upon estates under two or three thousand a year.
On small and middling estates it is lighter (as it is intended to be) than the commutation tax. It is not till after seven or eight thousand a year that it begins to be heavy. The object is not so much the produce of the tax as the justice of the measure. The aristocracy has screened itself too much, and this serves to restore a part of the lost equilibrium.
As an instance of its screening itself, it is only necessary to look back to the first establishment of the excise laws, at what is called the Restoration, or the coming of Charles the Second. The aristocratical interest then in power, commuted the feudal services itself was under, by laying a tax on beer brewed for sale; that is, they compounded with Charles for an exemption from those services for themselves and their heirs, by a tax to be paid by other people. The aristocracy do not purchase beer brewed for sale, but brew their own beer free of the duty, and if any commutation at that time were necessary, it ought to have been at the expense of those for whom the exemptions from those services were intended;*[37] instead of which, it was thrown on an entirely different class of men.
But the chief object of this progressive tax (besides the justice of rendering taxes more equal than they are) is, as already stated, to extirpate the overgrown influence arising from the unnatural law of primogeniture, and which is one of the principal sources of corruption at elections.