The Nineteen Twenty-Eight Budget
The Empire Club of Canada Addresses (Toronto, Canada), 23 Feb 1928, p. 56-68
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The Nineteen Twenty-Eight Budget

Views of a very mixed character about the budget. The excessively political nature of budgets in Canada. The budget as it effects changes in the fiscal system. The chief changes as far as the tariff is concerned appearing to be in the textile schedules, and one or two other smaller maters. A good thing that tariff changes should be preceded by a serious examination into the evidence in the case affecting a particular industry. Two viewpoints among electors about tariff changes: the viewpoint of the people who think that the tariff cannot possibly be too high, and the viewpoint of the people who think that a tariff cannot possibly be too low. The speaker's response to those viewpoints. Tariff changes in the paper industry. A discussion with regard to protection due to those in the publishing industry in Canada. Sales tax. Changes in the various forms of direct taxation in the budget. Strong and unorthodox views of the speaker with regard to income tax. A discussion of corporate tax, and the way that income tax is structured and administered. Discouraging savings through taxation on interest earned. The speaker's conviction that a true scientific income tax is an income tax which would fall upon the satisfactions that a man secures during the year for which the tax is levied.