Milford chronicle., 1954-05-14

aFLlcIe Dy Alan L. Otten lmpreSSiVely dis
putes the "rich mans tax bill" argument.
Inc measure, ne writes, contains more
than so provisions that will cause more dis
tress in Union League Clubs than in C. !. O.
union halls or at Democratic Party rallies -
The reason for this is that the bill closes
doors on certain devices, now entirely legal.
by which some businesses and high-incOme
individuals have been able to save substantial
sums in their taxes.
Mr.. Often describes a few of these pro-
posed revlsiOns AS Of now, benefciaries of
lie insurance policies can leave the money
with the company and take it out in INSTALL
ments over an extended period of time. They
receive interest from the sum in the COM
panys hands, and it is taX-free to anv
amount. The new bill would limit tax-free
interest to $500 year for wife and $3.50
for a child. Certainly, that would hit the
wealthy much harder than the rest of us
Now the survivors of a deceased employee
can get up to $4,000 in tax-free death bene-
hts from each employer for whom he work
ed. Some top executives of inter-reIated
corporations can make arrangements so each
Oh the corporations will pay the tax-free
S5,OOO The new bill would restrict paw
ments to just one $4,000 per person.
Today, executives can be given tax-free
bonuses and vacations under health insur-
ance plans. Payments On these are tax-free.
with no limit. The new bill would set a cell
ing OF 500 a week for such benefts-and.
further, even that would be tax-free onlv
II all workers in the company receive similar
cOVerage
Other examples cited by Mr.. Often are
OF very technical nature and space pre-
Guides describing them. But they would hit
the owners and dividend-recipients of GER
tam kinds OF cOrpOratiOns-princip those
whose stock is closely held-tO a materially
greater degree than is the case now.
The Senate may or may not make impOr-
Jaht changes in the House approved bill. But
one thing seems pretty sure-no one in au-
thorlty is trying to give the rich any hand
outs.
TIME TO SHOW OUR COLORS
Nothing but flags but simple flags.
Tattered and torn and hanging in
rags;
And we walk beneath them with
careless tread,
Nor think OF the hosts of the mighty
dead
Who have marched beneath them in
days gone by"
These lines were written by Moses Owen
some years ago after he had overheard 2
woman remark petulantly, Nothing but |
lagS J. as she walked through a room where
the battle flags Of the State of Maine are dis
played in the State Capitol at Augusta.
We hope that Americans in every town
IN the nation may say the same thing this !
&emOral Day. not in disparagement, but in |
pride and awe and reverence for the one
powerful symbol of human freedom remain
ing on this earth
To this end, that every Main Street in
our nation may be lined with flags from end
to END, every one of Americas 1920 Amer
lcan Legion Posts has been alerted to help
0utIln hanging flags, in advising on proper
display OF the flag and in seeing that everv
flag in town is flying on May both.
Rlght now, when we are besat with in
ternal differences; when our trusted allies
are wavering; when bloody Communism is
growing iimperiOus," declared National Com
mander Arthur j. COnnell, ''is the time for
all OF US to be reminded of our glorious her
ltage and the responsibility that goes with it.
On this, Of all Memorial DAYS, let lis close |,
ranks and face forward"
Our best reminder is our fag-svnobol of
glory, and pledge of faith.
5000