LOOKING
AKKAD
GEORGES. BENSON
President—Harding College
Searcy. Arkansas
WHAT MAKES
AMERICA TICK?
A recent nationwide sampling
of high school seniors revealed
that 55 per cent knew so little or
cared so little about the economic
system under which we live that
they agreed with the keystone
Communist doctrine of “from
each according to his ability, to
each according to his need.” In
• a quiz given to find out how
much they knew about the Amer
ican system, the seniors scored 48
per cent—a few points better than
mere guesswork would have pro
duced.
The results of this high school
sampling indicate, among other
things, that the facts about our
American system, the secret of
American prosperity, must be
spelled out over and over again
in the simplest terms for every
category of our citizenry. Every
high school senior, every college
student, in fact every American
from school age up ought to know
and ought to be reminded day in
and day out that the American
economic system works to their
advantage because—
Everybody Can Dream
1. It permits everybody the
freedom to dream, and to pursue
their dreams. Therefore the na
tion benefits from the brain cap
acity of the total population, ra
ther than from a handful of
Planners as under Communism
and Socialism. There have been
lots of crazy ideas and dreams in
our atmosphere of freedom, but
likewise there have been mar
velous ideas, and many have
come frem obscure men and
women. The genius of Edison,
Ford, Kettering, and Bell blos
somed to maturity under free
dom. Under Socialist or Commun
ist Planning these men of obscure
origin might have been assigned
to a collectivist farm—or Siberia.
2. It permits anyone to compete
with the dreamers. Some 1,400
automobile companies have
sprung up through the years'" to
compete with Ford in the low
price field. Many companies make
electric lights. In our country a
man doesn’t have to be a dreamer.
If he has business ability or sales
manship ability he can compete
with and perhaps even beat the
dreamer at his own game. This
freedom to compete allows our
natiGn to utilize the latent powers
of management from our whole
population — instead of having
only two or three producers sel
ected by the Planners, and usually
on the basis of “party” politics.
Screened Management
3. The American economic sys
tem develops and places a value
on efficiency in the production
of goods and services. Freedom to
dream our dreams and freedom to
compete with the dreamers have
the effect of screening our man
YOUR INCOME TAX
SPECIAL BREAK OFFERED
SOME INCOME TAXPAYERS
(Second of six articles on How to
Make Out Your Federal Income
Tax Return).
By FRANCIS J. KELLY
AP Newsfeature Writer
WASHINGTON—Although tax
collections are running now at a
record high, some income taxpay
ers get a better break under the
laws than they did a couple of
years- ago.
The group which benefits in
cludes persons who sell their
homes at a profit and invest the
proceeds in another house. Also,
the parents of some income-pro
ducing children, unmarried tax
payers who qualify as head of
household, and all elderly per
sons with heavy medical ex
! penses.
It used to be that a taxpayer
could not claim an exemption for
a dependent if the dependent re
: ceived $500 or more income dur
1 ing the year. Now he or she is
i is eligible if the income is any
thing less than $600—same as the'
j exemption.
If you sell ybur home at a
I profit, none of the gain now is
! taxable provided that within a
j year before or after the sale you
I buy a new home costing as much
j as the former place sold for.
If you lose money selling your
house, no tax adjustment is avail
able.
Taxpayers over 65 years of age
get special consideration on their
| medical and hospital expenses. In
their case, all such expenses—
subject to limitations—are fully
| deductible if long form 1040 is
I used. Younger taxpayers are per
! mitted to deduct only such medi
[ cal expenses -as exceed 5 per cent
of their income.
There is a strict overall limit,
however, on the total amount that
can be deducted for medical ex
' penses. The limit is $1,250 a per
son. The very most that can be
deducted on behalf of any one
family is $5,000.
There’s a limited amount of
cheer for taxpayers who suffer
i losses of property due to fire,
storm, or other natural causes, or
by theft.
If the loss exceeds 1952 income
agement, and leaves in each field
only the most efficient..
4. It provides the American
workman with the finest tools on
earth. Keen competition under
efficient management has in
spired the development of ma
chine tools which cannot be
imagined by the workers in most
countries.
5. The American economic sys
tem provides freedom for the
working man and woman. Only
free people can be efficient and
ingenious on the job, and only
under a private enterprise econ
omy can free labor exist.
All high school seniors should
know that the economic system
gives the American workman
seven times more purchasing
power in food, eight times more
purchasing power in clothing, and
ten times more purchasing power
in housing than the Russian Com
munist system provides for its
people, and almost three times
' more purchasing power than is
provided by Socialism in Eng
land. These are facts we must
keep fresh in our minds if we
are to keep our system progress
ing and forestall the organized
attempt of the Socialists and
* Communists to capture it from us.
the excess may 'be carried back
as a net operating loss to offset
taxable income in 1951, and any
remaining excess may be carried
over to .^pply to the years 1953
1957 inclusive. This applies to a
salaried person as well as one in
business, but can be allowed only
if the taxpayer makes his return
on long form 1040.
A non - married person who
qualifies as the head of a house
hold gets special treatment de
signed to give him (or her) about
half the tax benefits accruing to
married persons who file joint
returns and take advantage of the
income splitting privilege.
GIRL SCOUT NEWS
INTERMEDIATE GROUP
December 18, 1952 — 'fhe Girl
Scouts had a Christmas party at
Mrs. Ray’s home. We sang Christ
mas carols, played Bingo, and
then we had refreshments while
we exchanged presents. We all
had a very fine time.
The troop prepared packages
for a few families, for the city,
and the members of the troop de
livered them.
We didn’t have the next two
meetings.
January 7, 1952 — We had our
meeting at the school house. We
had recreation.
We miss Mrs. Ray from our
Girl Scout troop.
January 14, 1953 — The next
meeting we had at the home of
our new assistant leader, Mrs.
Katharin Schneider. We planned
programs for the meeting after
next. Next meeting we are going
down to the fire station.
We elected a new secretary,
.Aice Glavinovich.
Fine Job Printing at the Nugget
w
• '
Tonight—join the millions who find it’s...
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