Direct taxation might be accepted as a substitute if it only could be adequately enforced. This, however, we know to be impossible. The expense of collection below a certain limit would entirely swallow up the profit; and besides, it is clearly beyond the power of human ingenuity to ascertain, with any thing like accuracy, the means of the whole population. The only approximation to the direct system which has ever been suggested, is through a regulated house-tax; but even that would fail in accomplishing its end, and the inequality would still prevail. Direct taxation is liable to infinite abuse. It is odious and inquisitorial in its nature, and no minister has been bold enough to propound a plan for making it supersede the other.
If, therefore, this income-tax, palmed upon us through fraudulent representation, and now proposed as perpetual on the plea of pressing emergency, is to be continued for ever, it will be necessary for us to consider how far it is levied on those benefited by the removal of indirect taxes--how far it applies to all classes--and whether it is one-sided and unjust, or fair and equitable, in its operation. Before we consent to an impost which must affect us and our children, it is well that we should thoroughly understand the nature of the obligation we undertake. The income-tax was originally proposed to supply the loss of revenue sustained in consequence of an over-reduction of the indirect taxes; and as a matter of equity it follows, that the supplies should be drawn, though in a different form, from the same portion of the community.
Is this the case? Can any man venture to say that the income-tax, as we have known it for the last five years, has been borne with equal fairness by all classes of the community? Is it not, on the contrary, the most unequal, the most unjust, and the most oppressive tax that ever yet was levied? We hardly believe that on this point there can be any difference of opinion: and we shall now proceed to notice the separate considerations upon which our decided and determined hostility to the measure is based.