Political Groups Debate Reduction Of Tax on Incomes Under $5,000

"$420 would buy some tangible goods, a television set, a washing machine..." said the Democrat to the audience. "Or a lot of beer," rumbled an audible Republican in the audience.

And to the debate between the HYRC and the HYDC blustered on over the question of a tax reduction on incomes under $5000.

"If only the lower income taxes were cut," declared Peter M. Smith '61, Republican, "the graduated tax would be aggravated almost to socialism."

His colleague, Philip C. Olsson '61, later voiced the hope that, "It might be nice if we could finance the unshaven, struggling, brilliant guy around the corner...by reducing the capital gains tax."

Democrat John C. Shershow '61, countered the Republican statements with statistics. Eighty per cent of the families in the United States, he said, earn only one half of the total income.

The rebuttal, kicked off by Republican Olsson, began with, "Our worthy opponents have produced a symphony of Arabic numerals, which may have had a sleep-producing effect.

"The Democrats," he continued, "have been talking about depression since 1932, and the only answer they have is war; but now I'm getting into classical philosophy."

"The speaker," answered the rebutting Democrat, "has lowered this debate to the level of low campaign mud-slinging. We are now familiar with that tactic. Look at the second highest man in our government today."