The Courier News from Blytheville, Arkansas on August 13, 1951 · Page 5
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The Courier News from Blytheville, Arkansas · Page 5

Blytheville, Arkansas
Issue Date:
Monday, August 13, 1951
Page 5
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MONDAY, AUGUST 13, 1951 BLYTHEVTU.E, (AUK.) COURIER NEWS PAGE rrvc ^^ — v *v Another big m ...but Congress still permits more than 35,000 profit-making businesses to go virtually TAX_FREE! T _ House of Representatives has voted to increase Federal taxes by more than seven billion dollars a year—most of it to come from Income Tax Payers. The increase on individual taxpayers (including all those who have their tax deducted from their pay checks in advance) is another 12Vz per cent on top of what you already pay. Corporate (business) income tax goes up another 5 per cent so that if you are operating or own shares in an incorporated business, the tax will be from 30 to 70 per cent plus another 20 per cent withholding tax on the distributed profits after taxes. At the same time these new taxes were saddled onto your paycheck or business, the Tax Bill continued the exemption from income tax given to more than 35,000 profit-making corporations. Building, Savings and Loan Associations and Mutual Banks will escape more than half a billion dollars in taxes this year... they are completely income tax free! Cooperative corporations and other mutuals, including many insurance companies, will get out of paying another half billion dollars .. .they are either wholly tax-free or pay only a fraction of what other businesses must pay. The billion dollars they do not pay must come from somewhere! Make no mistake about it... that billion is included in the increases loaded onto You! Write your two U.S. Senators! Protest Ihis injustice! This unjust Tax Bill is now before the United States Senate.They can rewrite the legislation to correct this rank tax discrimination against you and every other income tax payer. You owe it to yourself to write your two U.S. Senators and demand that they tax the untaxed first, before increasing your Income Taxes by as much as a single penny. Unless you do, they will think you do not care and are willing to pay more Income Taxes than you should! There's no need to write a long, formal letter full of big words and fancy phrases. An informal letter —or even a post card —is far better and more effective. Do not delay —write Today! This legislation is now before the Senate. Your immediate action is required if this tax discrimination against you is to be corrected. * * * , * * * * •£• * * * * * * * * * •*• * * ************ Your Senators are: Senator J. W. Fulbright Senator John L. McClellan WRITE THEM </o SENATE OFFICE BLDG. WASHINGTON, D. C. * *• * * * * * *• * * * * *• *• * * *• * ****************** I NATIONAL TAX EQUALITY ASSOCIATION j •••••1 Garner M. Lester, President 8 c th Marshall, Chairman of the Executive CommlUe*, li I,. Malo, SccreUry and Treasurer

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