Spencer Heath's
Series
Spencer Heath Archive
Item 1963
Pencil Calculations on back of a scrap sheet of paper
bearing the date June 3, 1939
30,000 population
¼% of national population
High grade people
Say ½% of national income
Income to town: 30 millions
Assume taxation in this town as 50% of its share (30 millions) of the national income.
Total taxes then are ½ of 30,000,000 = 15,000,000
Assume taxes apportioned
Federal 50%
State and County 25%
Town 25% 3,750,000
________________________
Assume that 40% of the town taxes are unnecessary.
Then 1,500,000 of town taxes can be abolished.
Suppose abolition of 1,500,000 local taxes would benefit the townspeople’s income by only 3,000,000 (instead of 4½ millions).
Then the profit to land owners and land users together will be 3,000,000.
Assume that all the land is owned by 1/3 or 10,000 of the town people.
Then these 10,000 people would profit by, say, ½ of the 3,000,000 benefit which would be 1,500,000 profit for these 10,000 people or an average of $150 each.
Metadata
Title | Subject - 1963 |
Collection Name | Spencer Heath Archive |
Series | Subject |
Box number | 13:1880-2036 |
Document number | 1963 |
Date / Year | 1939-06-03 |
Authors / Creators / Correspondents | |
Description | Pencil Calculations on back of a scrap sheet of paper |
Keywords | Real Estate Taxation |