| Show what about tax reduction TAX REDUCTION is becoming one of the more popular conversation topics of the day the administration probably would like to forget it but the subject won t be shooed away it s much like the little boy who keeps hanging around the dinner table pestering the guests now democratic leaders are dif fering among themselves on how tax relief best can be achieved sen george influential member of the senate finance committee writes on the subject in the current issue of LOOK MAGAZINE the sen ator favors helping small wage earn ers by raising personal exemptions from to however speaker sam rayburn another democratic stalwart dis agrees he says he would like to help the little fellow by correcting inequities in the present law but only if the revenue loss cap be made up elsewhere some people who feel the deduc tion in taxes won t be appreciable would prefer letting the tax tore ture remain as it is and concentrate on balancing the budget undoubtedly there will be a tax reduction even if its only the token variety the nation is entering a political year and the voters have deen been conditioned to expect some re lief on taxes most probably any reduction will favor the small income groups for there s where the most votes are however this view has a degree of appealing logic too sen george ex presses it well in his magazine art icle in the case of taxpayers whose earning capacity may diminish as they grow older there is no way to compensate allowance in m our r tax system comparable to declet depletion n and depreciation allowances for the det en eri oration of physical property the tax reduction fever is reach ing mg epidemic and some kird of treatment can be expected from congress |
