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Facts Forum News, Vol. 5, No. 12, December 1956
File 042
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Facts Forum. Facts Forum News, Vol. 5, No. 12, December 1956 - File 042. 1956-12. University of Houston Libraries. University of Houston Digital Library. Web. September 21, 2017. http://digital.lib.uh.edu/collection/1352973/item/699/show/671.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum. (1956-12). Facts Forum News, Vol. 5, No. 12, December 1956 - File 042. Facts Forum News, 1955-1956. University of Houston Libraries. Retrieved from http://digital.lib.uh.edu/collection/1352973/item/699/show/671

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum, Facts Forum News, Vol. 5, No. 12, December 1956 - File 042, 1956-12, Facts Forum News, 1955-1956, University of Houston Libraries, accessed September 21, 2017, http://digital.lib.uh.edu/collection/1352973/item/699/show/671.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Title Facts Forum News, Vol. 5, No. 12, December 1956
Series Title Facts Forum News
Creator
  • Facts Forum
Publisher Facts Forum
Date December 1956
Language eng
Subject
  • Anti-communist movements
  • Conservatism
  • Politics and government
  • Hunt, H. L.
Place
  • Dallas, Texas
Genre
  • journals (periodicals)
Type
  • Text
Identifier AP2.F146 v. 5 1956; OCLC: 1352973
Collection
  • University of Houston Libraries Special Collections
  • Energy & Sustainability Research Collection
Rights No Copyright - United States: This item is in the public domain in the United States and may be used freely in the United States. The item may not be in the public domain under the copyright laws of other countries.
Item Description
Title File 042
Transcript The Power to Destroy (Continued from page 13) I Rates of income tax in Great Britain are higher, and exemptions are lower than in the United States, although there is no British equivalent of the state income taxes which often add substantially to the taxpayer's bill in the United States. The German national income tax has been cut and is not so steeply graduated in the upper brackets as the American. However, Germans who are not refugees and who were not bombed out during the war are obliged to pay a substantial levy, the so-called Lastenausgleich, for the benefit of those who were. This probably at least equals the score. Japanese rates of income tax, applied equally to foreigners, are so heavy that many foreign newspapermen and businessmen cannot afford to live in Japan and have moved to Hong Kong. A recent report from Formosa was to the effect that income tax rates as high as 114 per cent had been levied there, although the Finance Minister was promising to look into the matter. Taxation Without Representation The one exception to a crushing load of direct taxation is found, curiously enough, in Communist countries which started off with programs of wholesale nationalization, confiscation, and robberization and still do not tolerate private operation or ownership of industrial or commercial enterprises. But experience has taught the Communist political bosses that unequal pay for work of unequal value is good stimulating medicine for productivity. So one finds very sharp wage and salary differentials, to say nothing of extensive perquisites of office in the shape of superior housing, cars, and the like for top level officials and members of the managerial bureaucracy. And in Tito's Yugoslavia, at least at the time of my visit in the summer of 1955, there was no income tax. Lest this should start a stampede of American expatriates to Yugoslavia, I hasten to add that there are many features of Tito's brand of communism in that country even less pleasant than filling out income tax blanks. The power to tax has indeed proved the power to destroy. The personal income tax, growing like a Frankenstein's monster and showing little Page 40 abatement from wartime heights, has destroyed for American citizens, among other desirable things: (1) The precious sense of personal independence that comes from being able to provide for their years of old age and retirement. The difference between nineteenth century and twentieth century rates of income tax is the difference between independence and dependence, between the ability of a man of reasonable thrift and diligence to "save up" for his later years and being dependent on some state handout or some company pension scheme. Anyone with a medium WIDE WORLD PHOTO Alexander Hamilton was active and influential in the Constitutional Convention of 1787, and was second only to James Madison in securing ratification of the new Constitution. As Secretary of the Treasury through George Washington's two administrations, he worked constantly for a sound financial system, and the development of industry. middle-class income can take paper and pencil, figure out how much he has paid to satisfy the exactions of federal, state, and sometimes also municipal tax collectors, anel calculate what he has lost in terms eif an annuity or retirement allowance. In an age that prides itself on its concern for security, exorbitant rates of personal income tax are- a most acute source of personal insecurity. Money that otherwise would have been saved for a rainy day is earned only to be siphoned off by the insatiable demands of the- State-. (2) The sense of economic free- dom. The Uniteel States conquered the wilderness, built great cities and fertile farm areas on land once tenanted by a few nomadic savages, built up a standard of living that made it, in Shakespeare's phrase, the,envy of less happier lands, because the individual American was free to earn what he could and to keep what he earned. Now the government, like a racketeer, "muscles in," demanding a large nrst cut of everyone's earnings, a cut that becomes progressively and rapidly larger as the individual is presumably more competent and efficient and able to earn more money. The federal government has a pn°r claim on more than half (52 per cent, to be exact) of the profits of every corporation. A reversion to serfelom under modern conditions is suggested by the fact that almost everyone must work a certain amount of time for the government by surrendering a portion of his earnings. This time varies from one to two months for those in lower brackets, to three to six months as steep progression exerts a leveling influence on those in middle and higher brackets. In the case of the highest incomes, where 91 per cent may go to the State, the individual may reckon that he is working only a few weeks for himsett, the rest of the time for the government. "A Reversion to Serfdom" There can be only one end to the prolonged operation of the kind ot steeply progressive income tax system which is in force in the United States today. This is to transform what was once a people of self-reliant individualists, accustomed to relying oV themselves in emergencies, into a» amorphous mass of wards and serfs ot the State. These would be- neatly ticketed with social security numbers, conditioned to giving up to the State a larger and larger share of what they earn, and leioking to the State to satisfy more and more of their needs. On of the most insidious consequences or the present burden of personal income tax is that it strips many middle-el"*'? families of financial reserves, a" seems to lend support to campaiiP" for socialized medicine, socialize housing, socialized food, anel seicia1' ized everything. (3) The spark plug of incentive is brought to a sputtering halt by a taxation system that treats wealth as a crime- anel makes almost impossible the building up, without inherited Facts Fohum News, December, 1956
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