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Luxuries
Malt is grain (usually barley) that has been soaked, sprouted, dried, and cleaned for use in brewing or distilling. Since malting requires centralized warehouses, it is difficult to hide, so Smith views taxing it as the fairest way to tax beer and whiskey production.
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Malt Term Timeline in The Wealth of Nations
The timeline below shows where the term Malt appears in The Wealth of Nations. The colored dots and icons indicate which themes are associated with that appearance.
Book 5, Chapter 2
...for private consumption, so most wealthy families make their own beer (but not their own malt liquor). Malt is used in brewing, but easier to tax than beer and ale. Thus,...
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This policy wouldn’t hurt malt producers, who will simply raise prices and pass along the tax burden, like any other...
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Book 5, Chapter 3
...For instance, the Bank of England loans the crown the expected value of land and malt taxes at the beginning of every year, and the crown pays it back with interest...
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...commodities. Smuggling would be easier in America but simplifying the excise rules (and particularly taxing malt) would reduce it.
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