Excerpt from The Nineteenth Century and After, Vol. 66: A Monthly Review; July-December, 1909
To return to first principles and the precepts of Adam Smith. Can it be alleged that the burdens imposed by heavily graduated death duties are borne alike by all citizens as nearly as possible in proportion to their respective abilities - especially when they are considered (as it is imperative they should be considered) in con junction with the income and super - taxes? A new class of tax-payer has been created, a numerically small class, and the great number of voters do not share the burdens - or, at any rate, only to a small degree. Where is the check to public expenditure, to extravagance, to experiments doubtful from an economic point of view, when this is the case '4!
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