THE POOR RICH
One of my more statistically-minded partners (says a writer in the “Financial Times”) worked out. approximately a calculation to show what a rich rnan with an income of £30,001 a year would have to invest in the new 3 per cent. War I.oan in order to increase his income by £IOOO per annum. Taking tax at 16s in the £. a man would have to buy, at par, £166,000 of the new stock. The gross interest on £166,000 at 3 per cent, is £4,980. Deduction of ini come tax at 16s in the £ would leave him £IOOO net.
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Nelson Evening Mail, Volume LXXIII, 27 June 1940, Page 6
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100THE POOR RICH Nelson Evening Mail, Volume LXXIII, 27 June 1940, Page 6
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