OCR Text |
Show Four THE AMERICAN FORK CITIZEN, Thursday, December 3, 1955 Letter to the Editor The television program "The $64,000 Question" has dramatically dramati-cally brought to the attention of the American people the destructive destruc-tive character df our present federal fed-eral tax laws." ; ' - As pointed xut by the National City Bank in its October,- 1955 letter, In the -case of a single person with an $4,000 income from other sources, a winning of (32,000 is taxed $15,400, leaving the winner $18,800. x An additional $32,000 would be taxed $23,292, leaving the winner win-ner $8,708. -.J ( For a person to have and been 564,uou alter paying the income tax would " require a prize of $448,711. " I Our present Income tax law lm poses taxes on individuals start big with 20 percent on income of $2,000 and ,undeY and increasing with the size of the income to 91 percent. Coupled with our federal es tate tax running, to a top rate of 7T percent, we have an ideal scheme for destroying the pit vate enterprise system under which the individual, and not the government, provides the ca pltal and owns and operates our industries. The effect is to lessen or destroy the incentive to work, save and Invest In productive enterprises, en-terprises, which Is so essential to . our continued progress and prosperity. pros-perity. ' As in the case of the "$84,000 Question; persons hesitate to Invest In-vest in business enterprises, and business men hesitate to embark upon new adventures, because of the loss involved in the event of failure and the confiscatory taxes tax-es levied in the event of success. The ultimate effect is certain to be disastrous. "' The "disincentive- effect of the high tax rates is shown by the following figures: ' One-half of the total federal revenue of $80 billion is provided by the tax on individual incomes. Only 3 percent of the total rev snue' (about $2 billion) Is pro duced by the rates of this tax above 34 percent. Incidentally, 35 percent Is the highest rate that could be imposed (with the present beginning rate of 20 per cent) under a constitutional am endment known as the Reed Dlrkam Amendment now pend mg In Congress. The $20 Income tax cut for all taxpayers and dependents proposed pro-posed in the last session of Congress Con-gress woull have cost the government govern-ment a revenue loss of $2 billion 300 million. ;, 84 percent of the revenue from the Individual Income tax is pro duced by the beginning rate of 20 percent. Tiw estate and gift taxes pro duce a little over 1 percent of the total revenue (less than $1 bil lion), enough to run the gov eminent for about four days. These figures brine out the fact, not generally realized, that the great bulk of the revenue from the individual Income tax comes not from the taxpayers witn large incomes, but from those with small Incomes. This is so simply because the small income in the aggregate consti tute the bulk of the national In come. ' i ? The only possible way to give relief to the small taxpayers either (1) by reducing the need for revenue through cutting ex pendltures, or (2) by increasing revenue through a drastic deduction deduc-tion of the present! confiscatory higher-bracket rates so as to in crease Incentive and Investment In productive enterprise. This would Increase the national In come, which constitutes the tax base, and thereby increase the revenue. !.', Any immediate loss in revenue through the elimination of the higher individual rates would undoubtedly be only temporary, Eventually, the lower rates would produce greater revenue than the higher rates now in force. The Reed-Dlrksen Amendment limits the degree of tax rate pro gression In the case of the income in-come ,tax, without impairing the power or congress to raise needed need-ed revenue during either war or peace, and reserves to the states the exclusive power to impose death and gift taxes. It is a much needed reform. s-Robert B. Dresser Provo to Hove Permanent Recruiting Sergeant A Kew Standard of Accuracy for Hie World! The Greatest Watch Value Ever Offered I r 1, 1 . I AC hi A ??!AVWW I "Vi. U f 1 - W in v m sijz- ptk hcWN ttdtrpl tax I 1 A nosttrpiral Cuarantted ocoiratt ta heat end aid. ..in tflTmnt pod- - .... J..... -I 6- tinskm. 2) (tints. Tinwd to preilsJoe edjustmiritt. Self-winding. Cirtified waterpraof". Vnbrtakablt mainspring, laistd fold numerals. Anti-mognttic Shark mlstonl. Pay As Little As $1.00 Weekly ADAMS JEWELRY STORE 33 West Main Street ! American Fork b ta H.L ImNm Cii. TmM wmp l ml- wr to m r V i You Have 52 Vacations A Year with this Sutpoint Week-end Plan St. 8gt. Richard J, Maughan.-Salt Maughan.-Salt Lake City, Dec 7 Inter mountain area Marine Recruit ing Headquarters In Salt Lake City today announced that Staff Sergeant Richard 3. Maughan will take charge of Marine Re crultlng In Utah County with his headquarters located in Provo, This marks the first time since 1053 that a Marine Recruiting Sergeant has been assigned to permanent duty In Provo. Open ing of this station is due to the large number of Provo Marine enusiees aunng me past year and new Marine Corps Reserve activities to Provo. staii sergeant Maughan. a native Salt Lake City man, has been on duty in Salt Lake City since ne reported to the Inter mountain Marine Recruiting Service In January, 1051 During nis tour or duty in Salt Lake City, Sgt. Maughan has been a frequent weekly visitor to provo on Marine Recruiting Missions. During Decembermen and women are being accented for three and four years immediate active service," said Sgt Maughan, Maugh-an, adding, "With the ODenina of this new station, men and women' interested In serving now, or learning more about the Marine Corps are urged to contact con-tact me at Room 212 Post Office Building Provo, ; Utah. Sergeant Maughan. his wife Shirley and their twin family will reside at 1118 East 560 North in Provo. Make Tour Own Cententleees. Candtes, paints, snow, deer, etc. Humphries floral Co.. ,..... With Our Boys Edward M. Bunker, son of Mr. and Mrs. Edward Bunker Sr., Al pine, nas Deer called to serve In the U. S. Army. He reported at rort Douglas December 5 and will receive further orders there, He graduated from American Pork High - School, attended Brigham Young University and filled an LDS Mission In Eng land. At the time of his call he was serving on the Stake Sunday School Board. R -iw.tr' j R I M: M: nu rjj; linpH: m !M: im nKiiriTtiii ttttoaatnt ttnoatn tfwtjinn I iti l r"" Tit l,wltw,Ttii J yiHii ;!i;iifhiu mm. iiiniiiiiiiiini.Miiw Moat pMpU who try sbm tonus m bond one, tUy with it. Btmf to my , . . aaytoantoy. ' ! Diatillad ooordinf to , Bm family formula A ' md on from pnaratioa to fnrtioa for or 160 yaarm, yoo'U find it diatiao lira Kentucky amoothnaai ad richaaaa Worth Ra paatinc next Lima you buy liotuad ia Bond bourbon. .i'i.t Your weekends can be real twolay vacatloiu If you know how : to eliminate time-consuming chores and plan for family fun and relaxation. Doing some thing extra durinf the week so as to banish tiring household labors from weekends was one of the basic rules worked out by one young family in a simple six-point six-point program described In Red- book Magazine; writing in the December issue, James A. Bryans tells what life was like in his household before and after he and his wifo devised their high ly successful and satisfying plan: I "Late one Sunday evening last summer, my wife Janice and I took a long, hard look at ourselves. our-selves. We didn't like what we saw. Another weekend was reaching rea-ching its hectic close and we had nothing to show, for It but shattered nerves, Jobs undone and plans unfulfilled. We decided decid-ed then and there to make a plan and that plan, simple as It was, has changed our lives drastically. "1. MAKE WEEKDAY SACRIFICES: SACRI-FICES: When we framed our plan, we decided that we must put In a little extra time during the working week In order to clear away the debris that had been cluttering up our weekends. The weekly budget, which used to hang over my head on Friday evenings,, I now handled during Monday morning's train ride to the city. One of our greatest week end time consumers before the plan was Saturday morning shopping; now Janice takes the car on Friday morning and has the larder all stocked ahead of time. - "2. MAKE A NEW TIMETABLE: TIMETA-BLE: Your weekend can never be a real vacation unless, you're well rested and ready to enjoy it Prepare for it on Thursday night, avoid social obligations, eat a light digestible dinner and go to bed early. Even on Friday nights, pass up heavy party-going and late dates. , , , ? cniuraay irom o to l is our 'get-it-done' .time. All the Jobs inai couian? be done during the wees are tackled at this time Then we have a light lunch and the whole family takes an hour's nap. Then, the afternoon is onen for a trip to the zoo or a skating nnx, or tne beach if it s summer. And when we come back home for the big dinner and the ev enlng ahead, we're still fresh, as "Sunday s mornings are, of course, taken up by Sunday Bcnooi ana church, and our youngster must go to worship fortified by his usual breakfast But for grownups on Sunday our plan provides Just two meals, the first, a-leisurely late breakfast, break-fast, usually eaten at 12 noon and a 8 o'clock snack supper, consisting of leftovers, sandwiches sandwich-es or cold cuts and salad. We abolished ab-olished the traditional Sunday dinner and pushed it over to Monday night. Thus, the day is wide open for all kinds of adventures ad-ventures and excursions, unhampered unham-pered by tiring household labors. "3. HAVE A CHANGE OF PACE: If we an stay-at-homes one weekend, we arrange to be come gadabouts the next Too much of either action or inaction and these two precious days lose tneir 'holiday' magic. "4. BE SURE IT'S A VACA nON FOR EVERYBODY: Each member of the family is given his turn to select the activity on different weekends. And, very often, we hit upon a diversion that combines all interests. "5. DO ONLY ONE GOOD DEED PER WEEKEND: Our weekends are not merely , for pleasure seeking. There are always al-ways Important improvements to be made, but we determined to limit weekend Jobs to one. , i"6. DONT TRY TOO HARD: In living out our plan for 52 vacations va-cations a year, Janice and I always al-ways leave plenty of room for the unexpected. If the plan calls for a- weekend of auiet relaxation and a long-absent friend suddenly sud-denly blows Into town and wants a big night, we can make an exception. ex-ception. And If I've done my one constructive thing for the weekend week-end and still feel like doing more I sometimes do. John V. Johnsons To Celebrate , Golden Wedding Mr. and Mrs. John V. (Jennie Walker) Johnson will, celebrate trolr golden wedding anniversary anniver-sary at an open house Wednesday, Wednes-day, December 21. Their children child-ren will host the open house and program to be held from 0:30 to 0:30 p. m. ln'tbs Ward House, 1500 North State Street, Orem. They were married December 20r 1005, Mr. Johnson holds the distinction of being Orem's old est male ; resident; All their friends are cordially Invited to call during theDpen house. They have five children, Blaine W. Johnson, Alpine; Dean V. Johnson, Mesa, Arizona; Mrs. Junious (Helen) Gordon,' Provo; Mrs. Stewart (Meda) .Allen, American Am-erican Fork, and Milton R. Johnson, John-son, Salt Lake City: 14 grand-1 children; and children. six Ming does it (ike Seven-Up! o Your Best Buy ' " ' is KING SIZE With the money-saving DEALS he's making ... Every day is Christmas at your FordDealer's . ' WltVt ouf (or big voruro and wtf poy Soafo to gtf ft. IVe'D mafo you as xfr poocf faf rrsfif now thai will mako yov think Chrishnat b horo Our top-volume, salec mean you can make' a big saving on a '68 Ford. With our ffrcbrw than-ever turnover on new Fords, we can offer a 6r-than-ever deal on your present car. Here's your chance to reaUf gave on the car that got its glitter from the Thunderbird, Hit '66 Ford is long, low and lovely. And the new Ford post like the Thunderblrd, too. There's a Thunderblrd Y-8 engine under that gleaming hood. And best of aQ, youll save on the car that brings you. the added safety of lifeguard Design. Too get a whole family of Ford safety features for added protection against the major causes of accident miunes. irasw faWa mi Slatfaa Wm " I Ml P , .LI ,,I I, J I - . - 1 j Thunderblrd y-8 : S power . I llilT 9" SEE YOUR LOCAL FORD DEALER TODAY Only Ford Dealers Carry A-l Used Cars & Ttruckj. Electrical Gifts..; tliey last and last ! Give ' ri' I ( keen on gkhy: , . V S ' I, - ' RcmSe ' KaJi'o. '' - Ref3fior" .' - Television I .. '--Jt- V Freeier : ,., . Clocks- C'.'.wasKer . ' y lamp . " J? r i Sfet.m Iren ' i f S t .' . . . ' 'r: Eoodoir lowp ' ' - ' riivL' j Intra . -. , ,t x " "loer " -iinlcrrp y ' ' -I , .V k!.Iv-s I2c lamp jr I ' .'- f.-Iver ' Co;3er! .' - ', f I ..r ' : , rjColor i '; ';- I ropeorn Pt-,-if I 1 ""..'mcr t.'uir Dryer . I yL JSS Vibrator K '. ' A ' Fryer-CocUr , y ;-. ! Buy from jour dealer A Utah Power & Light Co. Message great-grand 8..f'. i -1 ...5 w f |