EQUALITY OF SACRIFICE.

New Zealand Herald, Volume LXIX, Issue 21144, 30 March 1932, Page 13

EQUALITY OF SACRIFICE.

Sir, —The Prime Minister, Cabinet Ministers, members and presidents of Chambers of Commerce have for some time been advocating the imposition of a special tax on all incomes from investments, to bring about, what they are pleased to call, equality of sacrifice. A member of the " unrepresented sex," who, when tho family budget requires balancing, and being unable to issue letters of margin to herself that she may levy toll on the community, cuts her expenditure to fit her income, would like to express her view of the " equality" of the proposed sacrifice. During the period of rising prices, when salaries, wages, rent, etc.. were being adjusted to meet the various rises, our legislators, whose present febrile condition, caused by the tax lust which is upon them, has so deranged their reasoning that their minds appear to function, only, along the lines of toll and levy, lifted their honorarium by 50 per cent., from £3OO to £450 per year, and it is reasonable to suppose Ministers advanced in like proportion. When the 10 per cent, cut was imposed these gentlemen accepted a liko cut for themselves, leaving 30 per cent, still to cut before they contribute anything to the sacrifice they airily talk about. In contrast, take my own case, typical, I am sure, of many others. Prior to 1914 my husband and self had an alleged fixed income of a little over £175. our superannuation, not subsidised by the Consolidated Fund, a life's savings, through thrift and frugality. I use the term "alleged" because it was fixed only in respect of increase; there was nothing to prevent it falling, which it has done to under £l5O to-day, our sacrifice. We have interest on a mortgage of £IOOO to pay, together with rates, insurance and upkeep, and on the balance we are managing to exist! Tho proposed unemployment levy will take another £7 10s from our income, receipt of which debars inv husband from benefiting under the Act, and when the " equality" tax is imposed we will have to realise on our investments to pay the tax, which means they will eventually disappear and we will bo a charge on the old-age pension. Messieurs the Prime Minister, cl.airmen of Chambers of Commerce, etc., did you realise that such, and worse, positions existed when you so lightly spoke of " equality" of sacrifice? Members of the Labour Party and Independents, who also advocate this tax for tlie purpose of levelling down what you call the " big man," do you realise that the sacrifice of these, mostly elderly, salary and wage earners will benefit this very person, because he will buy the securities they are forced to sell at a heavy discount, which will give him the rate of interest prior to the tax, in addition to a handsome profit on maturity. lam confident that a Cabinet composed of common senso housekeepers would be able to balance the national Budget without pauperising a considerable section of the community by such pathetic legislation as the proposed " equality " of sacrifice tax. The Woman Pats.