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The Weekly Gazette
East Hartford, Hartford County, Connecticut
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The 'neglect tax' is highlighted as the largest destroyer of wealth, with annual losses of $1,419,600,000 from property deterioration, exceeding insect pest damages of $1,300,000,000 and fire losses, affecting 70% of $101,400,000,000 in national property at 2% yearly rate.
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The neglect tax is the biggest single destroyer of our wealth. The nation's big bill, losses caused by insect pests, is about $1,300,000,000 a year. We hear much of the boll weevil, Japanese beetle and corn borer, and the government spends large sums to help farmers combat these pests. Yet we hear little of neglect losses, which are greater than insect losses. Insects destroy potential wealth. Neglect destroys invested capital and reduces the interest earned by money invested in property.
The neglect tax is more than double the fire loss, about which so much is written. This matter of depreciation is not given the dramatic attention which is accorded the fire loss because its slow accumulation leads people to overlook it.
Neglect taxes reach $1,419,600,000 a year. Of our standing property worth approximately $101,400,000,000, only about 30 per cent is adequately protected, the balance is deteriorating at the rate of about 2 per cent a year.
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Domestic News Details
Outcome
neglect taxes reach $1,419,600,000 a year. of our standing property worth approximately $101,400,000,000, only about 30 per cent is adequately protected, the balance is deteriorating at the rate of about 2 per cent a year.
Event Details
The neglect tax is the biggest single destroyer of our wealth. The nation's big bill, losses caused by insect pests, is about $1,300,000,000 a year. We hear much of the boll weevil, Japanese beetle and corn borer, and the government spends large sums to help farmers combat these pests. Yet we hear little of neglect losses, which are greater than insect losses. Insects destroy potential wealth. Neglect destroys invested capital and reduces the interest earned by money invested in property. The neglect tax is more than double the fire loss, about which so much is written. This matter of depreciation is not given the dramatic attention which is accorded the fire loss because its slow accumulation leads people to overlook it.