Newspapers / The Fieldcrest Mill Whistle … / April 5, 1954, edition 1 / Page 2
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WHISTLE Issued Every Two Weeks By and For the Employees of Fieldcrest Mills, Inc. Spray, North Carolina Copyright, 1954, Fieldcrest Mills, Inc. OTIS MARLOWE Editor Vol. 12 Monday, April 5, 1954 No. 18 There Aren’t Enough Rich People! If you’re still gullible enough to believe that we can pay most or even a substantial part of the incredible cost of government by “soaking the rich, some facts that Senator Walter George presented in a Look magazine article will come as a rude awakener. If Congress confiscated all taxable in come over $100,000, by imposing a flat 100 per cent tax at that level, the amount of additional revenue would be suf ficient to operate the Federal govern ment for four hours. If all taxable income over $26,000 were confiscated, the yield would run the government for three days. If everything above $10,000 was taken in toto by the tax collector, it would pay the government’s bills for 16 days. Finally, if Congress shot the works by imposing a 100 per cent tax on all income above $8,000, the additional rev enue would keep the government gomg for 22 days. This being true, who must pay the great bulk of the government’s spend ing—and who must pay almost all of the future tax increases if they come? The answer is, people of small and moderate means—the people who work for wages and modest salaries, the peo ple who have little businesses, the peo ple who represent the majority of America’s population and are the back bone of America’s strength. They must pay for it for the simple reason that no one else can. There just aren’t enough “rich” to make a dent in the spending! * Inventions Mean Lower Prices High wages mean little unless you can buy more with them. In the American economy, patented inventions enter the picture, because they increase industrial efficiency and bring about lower prices for products. ■ For example, a year’s supply of clothing for a family of four can be earned with '" ^s than half as many hours of work ^day as in 1914. This has been made possible by technological advances— higher incomes through the help of ma chines, and relatively lower prices through more efficient production. Draper Teams Get Tournament Award® DRAPER “Y” VARSITY Members of the Draper “Y” Varsity, runner-up to the Danville the Men’s Class A Division of the invitational tournament sponsored by the „ Y’s Men’s Club, are presented trophy by Mayor A. S. Daniels of Draper, right are Clyde Pressley; Barney Carter, player-coach; Ed Mooney, Micky Mayor Daniels, Marion Pendergrass, Glen White, and Wimpy Hamrick. Fred high scorer for the team throughout the season, was unable to be present w picture was made. DRAPER JUNIOR VARSITY Draper Junior Varsity, runner-up to the Bassett, Va. team in the B Division, receives trophy from Mayor Daniels. Left to right: Wa>n®^ Buddy Slayton. Kenneth Walker, Ervin Gilley, James Frazier, Milton Marti . Griffin, Mayor Daniels, Bill Setliff, captain; and Jerry Weadon. FIELDCREST MILL W^I 2
The Fieldcrest Mill Whistle (Spray, N.C.)
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April 5, 1954, edition 1
2
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