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Show MEETING AT THE SUMMIT Penalty on Success Displaying unusual ability and courage to move up and up through the successively harder questiors, a contestant con-testant recently reached the top in a $100,000 prize TV quiz contest. While the vast television audience applauded, the winner got the $100,000 almost! Actually, he got to keep LESS THAN ONE-THIRD of the jackpot prize; the rest of it, an estimated $71,154, will go to the tax collectors. col-lectors. This is a dramatic illustration of how our nation's present income tax system places a penalty on being successful. suc-cessful. Thera are many Americans like the TV contestant, who arc ready and willing to work harder and longer and to take risks to reach the top. It is hardly fair that ' their extra energy and effort be penalized and discouraged by discriminatory taxes. I |
