第 44 节
作者:嘟嘟      更新:2021-04-30 16:07      字数:9322
  their inequality; an inequality of the worst kind; as they must
  frequently fall much heavier upon the poor than upon the rich。 A
  house of ten pounds rent in a country town may sometimes have
  more windows than a house of five hundred pounds rent in London;
  and though the inhabitant of the former is likely to be a much
  poorer man than that of the latter; yet so far as his
  contribution is regulated by the window…tax; he must contribute
  more to the support of the state。 Such taxes are; therefore;
  directly contrary to the first of the four maxims above
  mentioned。 They do not seem to offend much against any of the
  other three。
  The natural tendency of the window…tax; and of all other
  taxes upon houses; is to lower rents。 The more a man pays for the
  tax; the less; it is evident; he can afford to pay for the rent。
  Since the imposition of the window…tax; however; the rents of
  houses have upon the whole risen; more or less; in almost every
  town and village of Great Britain with which I am acquainted。
  Such has been almost everywhere the increase of the demand for
  houses; that it has raised the rents more than the window…tax
  could sink them; one of the many proofs of the great prosperity
  of the country; and of the increasing revenue of its inhabitants。
  Had it not been for the tax; rents would probably have risen
  still higher。
  ARTICLE II
  Taxes on Profit; or upon the Revenue arising from Stock
  The revenue or profit arising from stock naturally divides
  itself into two parts; that which pays the interest; and which
  belongs to the owner of the stock; and that surplus part which is
  over and above what is necessary for paying the interest。
  This latter part of profit is evidently a subject not
  taxable directly。 It is the compensation; and in most cases it is
  no more than a very moderate compensation; for the risk and
  trouble of employing the stock。 The employer must have this
  compensation; otherwise he cannot; consistently with his own
  interest; continue the employment。 If he was taxed directly;
  therefore; in proportion to the whole profit; he would be obliged
  either to raise the rate of his profit; or to charge the tax upon
  the interest of money; that is; to pay less interest。 If he
  raised the rate of his profit in proportion to the tax; the whole
  tax; though it might be advanced by him; would be finally paid by
  one or other of two different sets of people; according to the
  different ways in which he might employ the stock of which he had
  the management。 If he employed it as a farming stock in the
  cultivation of land; he could raise the rate of his profit only
  by retaining a greater portion; or; what comes to the same thing;
  the price of a greater portion of the produce of the land; and as
  this could be done only by a reduction of rent; the final payment
  of the tax would fall upon the landlord。 If he employed it as a
  mercantile or manufacturing stock; he could raise the rate of his
  profit only by raising the price of his goods; in which case the
  final payment of the tax would fall altogether upon the consumers
  of those goods。 If he did not raise the rate of his profit; he
  would be obliged to charge the whole tax upon that part of it
  which was allotted for the interest of money。 He could afford
  less interest for whatever stock he borrowed; and the whole
  weight of the tax would in this case fall ultimately upon the
  interest of money。 So far as he could not relieve himself from
  the tax in the one way; he would be obliged to relieve himself in
  the other。
  The interest of money seems at first sight a subject equally
  capable of being taxed directly as the rent of land。 Like the
  rent of land; it is a net produce which remains after completely
  compensating the whole risk and trouble of employing the stock。
  As a tax upon the rent of land cannot raise rents; because the
  net produce which remains after replacing the stock of the
  farmer; together with his reasonable profit; cannot be greater
  after the tax than before it; so; for the same reason; a tax upon
  the interest of money could not raise the rate of interest; the
  quantity of stock or money in the country; like the quantity of
  land; being supposed to remain the same after the tax as before
  it。 The ordinary rate of profit; it has been shown in the first
  book; is everywhere regulated by the quantity of stock to be
  employed in proportion to the quantity of the employment; or of
  the business which must be done by it。 But the quantity of the
  employment; or of the business to be done by stock; could neither
  be increased nor diminished by any tax upon the interest of
  money。 If the quantity of the stock to be employed; therefore;
  was neither increased nor diminished by it; the ordinary rate of
  profit would necessarily remain the same。 But the portion of this
  profit necessary for compensating the risk and trouble of the
  employer would likewise remain the same; that risk and trouble
  being in no respect altered。 The residue; therefore; that portion
  which belongs to the owner of the stock; and which pays the
  interest of money; would necessarily remain the same too。 At
  first sight; therefore; the interest of money seems to be a
  subject as fit to be taxed directly as the rent of land。
  There are; however; two different circumstances which render
  the interest of money a much less proper subject of direct
  taxation than the rent of land。
  First; the quantity and value of the land which any man
  possesses can never be a secret; and can always be ascertained
  with great exactness。 But the whole amount of the capital stock
  which he possesses is almost always a secret; and can scarce ever
  be ascertained with tolerable exactness。 It is liable; besides;
  to almost continual variations。 A year seldom passes away;
  frequently not a month; sometimes scarce a single day; in which
  it does not rise or fall more or less。 An inquisition into every
  man's private circumstances; and an inquisition which; in order
  to accommodate the tax to them; watched over all the fluctuations
  of his fortunes; would be a source of such continual and endless
  vexation as no people could support。
  Secondly; land is a subject which cannot be removed; whereas
  stock easily may。 The proprietor of land is necessarily a citizen
  of the particular country in which his estate lies。 The
  proprietor of stock is properly a citizen of the world; and is
  not necessarily attached to any particular country。 He would be
  apt to abandon the country in which he was exposed to a vexatious
  inquisition; in order to be assessed to a burdensome tax; and
  would remove his stock to some other country where he could
  either carry on his business; or enjoy his fortune more at his
  ease。 By removing his stock he would put an end to all the
  industry which it had maintained in the country which he left。
  Stock cultivates land; stock employs labour。 A tax which tended
  to drive away stock from any particular country would so far tend
  to dry up every source of revenue both to the sovereign and to
  the society。 Not only the profits of stock; but the rent of land
  and the wages of labour would necessarily be more or less
  diminished by its removal。
  The nations; accordingly; who have attempted to tax the
  revenue arising from stock; instead of any severe inquisition of
  this kind; have been obliged to content themselves with some very
  loose; and; therefore; more or less arbitrary; estimation。 The
  extreme inequality and uncertainty of a tax assessed in this
  manner can be compensated only by its extreme moderation; in
  consequence of which every man finds himself rated so very much
  below his real revenue that he gives himself little disturbance
  though his neighbour should be rated somewhat lower。
  By what is called the land…tax in England; it was intended
  that stock should be taxed in the same proportion as land。 When
  the tax upon land was at four shillings in the pound; or at
  one…fifth of the supposed rent; it was intended that stock should
  be taxed at one…fifth of the supposed interest。 When the present
  annual land…tax was first imposed; the legal rate of interest was
  six per cent。 Every hundred pounds stock; accordingly; was
  supposed to be taxed at twenty…four shillings; the fifth part of
  six pounds。 Since the legal rate of interest has been reduced to
  five per cent every hundred pounds stock is supposed to be taxed
  at twenty shillings only。 The sum to be raised by what is called
  the land…tax was divided between the country and the principal
  towns。 The greater part of it was laid upon the country; and of
  what was laid upon the towns; the greater part was assessed upon
  the houses。 What remained to be assessed upon the stock or trade
  of the towns (for the stock upon the land was not meant to be
  taxed) was very much below the real value of that stock or trade。
  Whatever inequalities; therefore; there might be in the or