OCR Text |
Show Friday, January 8, 1960 THE AMERICAN STATESMAN National Phoney Tax Cut farye The left leaders of a once respectable political party called Republican like to brag about the 10 tax cut they, with the aid of some D e m o c Tats, through pushed in 1953. Remember the 10 reduction left 90 of the tax. Since Sothe cial Security grab is also a tax upon Mr. Boardman income (or hadn't you thought about that) we should add it to the income tax to find out what has happened. A person who earns $3,000, assuming a 10 deduction, in 1953 would have paid $112.00 in Social Security and Income taxes. after FIVE INTODAY CREASES in the social security tax, the combined tax take wDl equal $150.00, an increase of not include the 33.9. This does tax compulsory social-securipaid for the worker by his ployer. THE WAGE EARNER who paid a total of $320.00 in 1953, now pays a total of $360.00 on an increase of 12.5. wing-sociali- st so-call- ed , ty $4,-000.- The $5,000 and $6,000 brackets reincreased by 8.5 and 3.3 we Here see the tragedy spectively. of the graduated income tax, combined with a so called social security tax to place the greatest burden upon the lower income As long as the present income and social security tax laws remain on the books, the - American people in the lower income tax brackets will pay the bulk of the tax because there are so many more people in those Page S CfieripuntU Ptcbletn Register StardmaH HOW WE LOSE OUR SAVINGS I took my boy (11 years old) to the Inaugural Banquet last, night. You see, our legislators have dis- He wondered why there werent covered another trick in the game other children there. He said, any of LOOTING. Not only do they Mayor Lee is fighting for us Dad. legislate on taxes for the present Why arent other children here? but they see to it that further increases are made into law. YES, MR. CHARLES H. CONNOW A NEW VOICE has been NER, we will insert Postal Zone added to the growls from the 10 in the address plate. Mr. Conner jungle which demands more and wonders if we fired our old proof more of our EARNINGS. Under a reader and got a new one. No we U.P. Washington dateline of De- didnt We just made a mistake cember 28th, Secretary of WEL- with the December 25th issue and FARE Flemming announced that spelled all the words correctly. Yes, he is thinking of recommending Mr. Conner, all Senators and most that the administration seek an in- of the Congressmen receive the crease in the amount of income American Statesman. subject to social security taxes as Mr. Conner wishes to assure Mr. that he has little to fear part of a broad overhaul of the Boardman in the way of desertion from the system. ranks by Representative Bruce AlTHE SOCIALIST EISENHOWER ger of Texas. administration has announced it About former subscriber, Tobin, is readying plans to liberalize" the loyal Chicagoan Conners has this system. From previous experience, to say, Wal, I snow! . . . the Hon-erabwe know that when the Eisenhower Mr. Tobin should have socialists plan to "liberalize" it cooled his blood pressure and read means it is planning to find ways the complete story . . , and means to take liberties with Thank you for your exciting letour earnings. Reams of publicity, ter, Mr. Conner and you are a paid for by the taxpayers, will be member in good standing of the broadcast during the election year NATIONAL REGISTER: Am I right about increases in benefits", the that you live on 1321 N. Dearborn promise of more of something for Street, Chicago 10, Illinois? nothing. Later, and on back pages of the left wing dominated Press, Bless you, Mrs. Gertrude F. you may find reportage which in- Newbury of Rochester, New York. cludes the additional tax bite Here .is a lady who, with 'her which will fall upon an economy, friends, keeps sending letters to the already bankrupt by a succession newspapers pointing out the Conof socialistic legislative stupidities. servative view. WHATS MORE, SHE SENT IN ARE YOU GOING TO ELECT to NEW SUBSCRIBER, TOO! A Congress men whb will work for You Conservatives in New York YOU or men who will work for a line her the street adone of the most politically immoral drop 160 . . . dont is Road Azalea philosophies of government in his- dress 20. zone forget to the postal tory? And, Mrs. Newbury, a sample ITS , LATER THAN YOU copy of - the Dec.. 4th ' issue will - be THINK! sent to your friend. le ... . The Morgan Guaranty Trust Company of New York reports that installment credit rose by $2 billion brackets. On Januaiy 1st, the tax bite for during the first half of last year. social security, will increase by ft An advance at least as great durof 1 to Increases are also ing the second half would not be scheduled for 1963, 1966 and 1969. surprising. - 3. Mr. Walter L. Riedy is ready to run for Congress he tells us in a letter. It is most obvious that he is a Conservative. The people in Chassell, Michigan should drop in and see him at 620 Wilson Drive. '., HEY, HOW ABOUT YOU Con- by HaMf fm BIST TBWH BUENA PARK, CALIF. The author sees to the savings, property and opportunity of every middle-clas- s American. He invites questions for this column. You may have a j( Everinghain . free copy of his Facts Every American Should Know by sending him a stamped, envelope. self-address- ed Mrs. E.L.T. writes: I have often heard it said, and it has worried me. a lot, that the savings bonds we. bought to help out during World War II were so depreciated in value by the inflation that followed the war that we didn't make any interest on them at all. Is this correct? . Dear Mrs. T.: That is correct, and that; only half the story. When you consider the lower buying power of our money 10 years later, we not only didnt make any interest on our bonds, but we lost some of our original investment And the inflation was not just due to the war. It was due to the wild political spending which continued even after the war. This was deficit spending year after year far beyond the governments income by irresponsible politicians who should have known better and probably did, but who just didnt care! Here are the figures on U. S. Savings Bonds bought in 1936 through 1945 showing their shrinkage through income tax and depreciation from inflation. These figures were published in the May 1956 News-Lettof The First National Bank of New York City: - er This is not only a record of the past, but a forecast of things to come, unless we learn to control inflation and the forces that cause it especially deficit spending. This inflation will continue, even with 5 interest on bonds, to eat away our savings in every form, unless we elect men to office who will reduce government spending. I How much is writes: our national debt and how does that compare with the other nations of the world? . Dear M.E.F.: Our national debt is now nearing $290 billion. Thats more than the combined debts of all the other nations in the world. A large part of our debt is due to our foreign aid giveaway program. Many nations have been paying off their debts with the aid that we send them. We are even giving money to Communist countries, such as Poland and Yugoslavia. Yet we have to support an all-tihigh peacetime defense budget to protect . ourselves . from .. their Communist masters. Does that make sense? It makes better sense to believe that the Communists want us to spend our way into national bankruptcy and are influencing our policies to bring this about M.E.F. EDITORIAL POLICY to Topanga from North Hollywood to Burton Way, Fairfax and Beverly then you can Vote for Conservative Mr. Clifton. What are the boundaries for those who want to help? Take this down, Miss Jones . . . In the fifty States of the servatives in Maryland! Im certain you have a Conservative' or two who is willing to run for Congress. I have heard from two of them. Drop me d line and tell me the men you are supporting and Union. why or why you are not supporting others. Send your support to Mr. Robert Clifton, 5359 Fallbrook, Woodland Something real hot crossed my Hills, California. Write to your desk. Mailed from Billings, Montana friends and relatives in California . . . Mr. Hines, you forgot to put telling them about Mr. Clifton. a stamp Qn it. Your NCS looks like a good thing and we may be able There are a lot of Texas jokes to help. MORE ABOUT THIS IN A COUPLE OF WEEKS If it and a lot of Alaska jokes. One I checks out, away we go! like, not being a Texan is the one that goes like this: Said the Alaskan; If you arent If you live in Connecticut, and several hundred of you do . . . how careful well cut Alaska in two about writing to Mr. Roger Wil- and make Texas the third largest liamson, 50 North Street, Guilford, state. Connecticut. Mr. Williamson . ?lso What an introduction to a sent along two dollars for 4 trial thought or two about a Mr. Cliff subscriptions for some of his Kinnett of Dallas 19, who enjoyed friends. He is registered. Mayor Lees comments about Sen. ator Young. Thank you for your Another Conservative from Mr. Kinnett and how about support Arkansas, asked for back a few of you Texans writing to his copies and sent in eight names with 4301 Lomo Alta Drive? on home, a check. -- ... Cul-lenda- le, Editor Floyd W. Shaylor of the Plain City, Ohio, Advocate, has something important to say about newspapers: A strong editorial policy is the best indication of a good newspaper. It matters not whether an individual agrees with what a newspapef says editorially it does matter a great deal as to whether the reader, through the medium of the editorial, gives consideration and thought to the subject at hand, if he strongly opposer a newspapers opinion, it is all for the best since it indicates that he has read and considered the subject, and has found it to be contrary to his own beliefs We will never complain because we have accomplished our real purpose that of causing you to read what we have to say! ... Writing in, the New York Times, Paul Heffernan tells of Russian debt owed to this country and its citizens. It includes: World War I debt to the U. S. government, $563 million; Kerensky Regime debt to the U. S. government, $190 million; Lend-Leas- e World War II debt, $11; 260,343,000; World War I public loans sold to private American inMr. A. N. Armitage . . . what vestors, $75 million. is freedom? Is it freedom of choice? Keith Funston, president of the Is it allowing a man to New York Stock Exchange, says starve to death if he wants to? Is continuation of U. S. economit the' right of a man to read any- that ic progress along with the rise in thing he wants to? I wonder! Do I have the right to censor what shareownership could lift the Exbooks he reads? If so will I allow changes daily average trading volanother man to censor the books umes. to some 4,500,000 shares by The post-wa- r average I can or can not read? What do has been around shares. 1,700,000 you think? Write me again. He adds is not he that making JDL predictions, but that the figures cited represent possibilities to be. Bernard Baruch says: The house- considered as the idea of a Peowife is the most important person. ples Capitalism becomes more She holds the world together. widespread. . . Robert Clifton, handsome, dynamic Conservative candidate for the United States Congress, 22nd District, California . . . now if you are like me . . . this doesnt tell you much. If I lived in California I bet you I wouldnt know what district I lived in. But how about this . . .. If you are in the Los Angeles area and are fed mail with the postal Zone from the following; 28, 36, 38, 46, 48 then you can Vote for Mr. Clifton in the Republican Primary. From Maibu Lake to Universal City and West Hollywood to Hollywood proper, from Canoga Park Mr. A TRIBUTE TO THE FREE ENTERPRISE SYSTEM THAT BUILT THE WEST. Still owned and operated by the founder, MR. and MRS. WALTER KNOTT and FAMILY CHICKEN DINNER RESTAURANT STEAK HOUSE 33 GIFT SHOPS Cp&iHflum Socialism in the U.S. as a threat - BSB&7 7 mid-1960- |