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'' | <head>A 2</head> | ||
<head>Political Prospects <note>Bankruptcy <del><gap/></del> <add><unclear>what</unclear></add></note></head><!-- headings in pencil --> | |||
What is more, were <del>the</del> Government to find itself<lb/> | |||
reduced to the necessity of having recourse<lb/> | |||
to this operation, neither would this necessity be<lb/> | |||
any proof of <add>a comparative state of</add> national poverty, nor could it <add>accordingly</add><lb/> | |||
be averted by any degree of national affluence <add>the nation be preserved from this necessity by a great</add><lb/> | |||
<add>superiority</add> in comparison of that which existed at the time<lb/> | |||
of the operation of M<hi rend='superscript'>r</hi> Pelham. The faculty of<lb/> | |||
finding many <add>in</add> sufficient quantity to pay the<lb/> | |||
dividends on the existing stock of Government annuities<lb/> | |||
depends — not <add>simply</add> on the quantity of wealth<lb/> | |||
in the hands of <del>its</del> individuals, <add>the nation at large</add> but on that circumstance<lb/> | |||
together <add>combined</add> with the quantity of annuities<lb/> | |||
existing on the one hand and the quantity<lb/> | |||
of <unclear>taxable</unclear> matter remaining <gap/> on <note>i:e: permanent property</note><lb/> | |||
the other. [The <del>quantity of</del> <add><gap/> <unclear>back</unclear> of the</add> <unclear>taxable</unclear> matter of a<lb/> | |||
country is composed of taxes on consumption: property<lb/> | |||
being in great part out of the reach of taxation,<lb/> | |||
and the remainder not taxable without inequality<lb/> | |||
and injustice, <del><unclear>since</unclear></del> the Landowners <del>pay</del> and<lb/> | |||
every other species of Prorietor <add>however slender their income</add> <note>and expenditure</note> paying as much to<lb/> | |||
the taxes on consumption as <del>the</del> <add>a</add> non-proprietor<lb/> | |||
of equal income and expenditure, the former are<lb/> | |||
thus taxed twice over.] <note>[ ] Absolute or even proportional</note> The nation may have<lb/> | |||
twice or thrice as much wealth in it as at the<lb/> | |||
time of M<hi rend='superscript'>r</hi> Pelham, and yet Government be in<lb/> | |||
an irremediable and <del>even</del> unblameable state of<lb/> | |||
Bankruptcy. If it has three times as much to<lb/> | |||
pay in annuities, then although it should have<lb/> | |||
thrice as much wealth, yet if it has no more than <add>thrice</add> | |||
A 2 Political Prospects Bankruptcy what
What is more, were the Government to find itself
reduced to the necessity of having recourse
to this operation, neither would this necessity be
any proof of a comparative state of national poverty, nor could it accordingly
be averted by any degree of national affluence the nation be preserved from this necessity by a great
superiority in comparison of that which existed at the time
of the operation of Mr Pelham. The faculty of
finding many in sufficient quantity to pay the
dividends on the existing stock of Government annuities
depends — not simply on the quantity of wealth
in the hands of its individuals, the nation at large but on that circumstance
together combined with the quantity of annuities
existing on the one hand and the quantity
of taxable matter remaining on i:e: permanent property
the other. [The quantity of back of the taxable matter of a
country is composed of taxes on consumption: property
being in great part out of the reach of taxation,
and the remainder not taxable without inequality
and injustice, since the Landowners pay and
every other species of Prorietor however slender their income and expenditure paying as much to
the taxes on consumption as the a non-proprietor
of equal income and expenditure, the former are
thus taxed twice over.] [ ] Absolute or even proportional The nation may have
twice or thrice as much wealth in it as at the
time of Mr Pelham, and yet Government be in
an irremediable and even unblameable state of
Bankruptcy. If it has three times as much to
pay in annuities, then although it should have
thrice as much wealth, yet if it has no more than thrice
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jeremy bentham |
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35145 |
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