r.lacazho Vcck
SAT., MARCH 27, 1976 THE CAROLINA T1MES-18
(Continued From
been audited for the past seven
years: "They don't get money
but they just keep coming
' back."
Worse than the attacks on
politicans, have been the IRS
forays against small black
shopkeepers and mom-and-pop
grocery store owners. Many of
these people are self-made
businessmen and not all of
them are able to read and keep
books properly. They have
been sitting ducks for the IRS
and there have been times
when they have been overtaxed
by zealous agents bent on
winning promotions by
squeezing every nickel they
could from the public.
The tragedy of it all - apart
from the pure racist
implications is that more and
more government workers are
living off the toil of
profit-making citizens every
day. As the army of tax-eaters
grow, the people who go out
and do the hard work of
creating wealth and capital in
our country, whether it's a
crossroads store or a cosmetic
company, are paying to keep
IRS agents on the job. Taxes
are rising rapidly and, in fact,
state and local taxes have
doubled in the past decade.
Meanwhile, the Federal budget
- much of it wasted - has grown
astronomically since President
Truman left office.
Picture, on one hand, the
owners of the small grocery in
Waycross, Ga., working 18
hours a day to net $ 15, 000 a
year, Now picture the guy their
taxes support; a nine-to-five
Federal IRS agent who takes a
leisurely lunch, two weeks'
Page 7)
vacation with pay, lots of
holidays off, a fat retirement
check, and a regular salary of
about $20,000 a year. It is
coming to the point where
those on the government
payroll, often merciless in
pursuit of tax dollars, are living
better than the people w
support them.
One social thinker has said
that in the old days the small
people gobbled the crumbs
that fell off the corporate
table. Nowadays, there is a new
Federal bureaucracy, and it is
this bureaucracy that dispenses
the welfare, the make-work
jobs, and decides who shall be
taxed and who shall escape
with only a hole in his pocket.
All of us have to pay our
fair share of taxes. But nobody
likes to think he is being
singled out for his political
views - the way citizens are
singled out in Chile, Russia,
Hungary, Uganda, or Brazil.
Yet the IRS has long
flagellated the civil rights
leaders of the South and their
white allies around the country
- a dangerous and pernicious
trend that is leading America
down the thorny road to
totalitarianism.
Writing in PENTHOUSE
magazine, author Ric Ballad
recalled that the U. S. came
into being as a result of a
revolution against taxation
without representation. Ballad
wondered how the Founding
Fathers would react to today's
deadly "taxation WITH
representation!"
- j ... -v.
Aj
A & T STUDENTS HONORED
N. C. A&T State University students have been selected as North Carolina Fellows: (row 1 left
to right) Sharon Saunders, Andriette Yourse, Cheryl Duncan, Sonnie Scott, Jacalyn Jacobs,
Jessena Boothe and Lila Washington, (row 2 left to right) Jasminus Grandy, Arthur Bar ham,
Sherwood Harris, Jarvis Hall, Gregory Foxworth and Raymond Maxwell.
15 A&T Talented Students Picked For
fj. C. fellows Program
- Seven A&T State University
students from Greensboro are
among the IS students selected
for the 1976 North Carolina
Fellows Program at the
University.
The students are Jessena
Boothe, nursing; Cheryl
Duncan, accounting; Jasminus
Grady, accounting; Dorothy
Judkins, English; Raymond
Maxwell, Jr., biology; and
Andriette Yourse, biology.
The other selectees are
Arthur Bar ham, ReidsvUle;
Jarvis Hall, Clinton: Sherwood
Harris, Kinston; Jacalyn
Jacobs, Moncure; Bonnie
Scott, Baltimore; James
Seward, Warren ton; and Lila
Washington, Cameron.
As members of the
leadership development
program, the students will
participate in travel-study
tours, summer internships and
on and off campus seminars
with national and international
leaders. The program is
sponsored" by "the "North
Carolina Fellows Program, Inc.
Blacb Pitas To Shore J.I. Life Dobs. Hods.
The Massachusetts Institute
of Technology announced this
week that negotiations are
in progress for transferring 10
per cent of its group life
insurance coverage with the
John Hancock Company to
two of the nation's largest
black-owned insurance
companies - North Carolina
Mutual of Durham and
Supreme Life Insurance
Company of America, of
Chicago.
The agreement is basically
an accounting transfer in which
the minority companies share
in revenue from M. I. T. and M.
I. T.'s insurance risk, with all
other administrative and
contractual responsibilities
remaining with John Hancock.
Chancellor Paul E. Gray,
who made the announcement,
said the move represents a
significant committment on
the part of M. I. T. to help
minority companies play a
greater role in America's
majority businesses. He said
that M. 1. T. was initially
approached by North Carolina
Mutual after the company had
negotiated a similar agreement
with Harvard.
M. i. T. currently holds
$266 . million (face amount) of
group life insurance with the
John Hancock Company.
Under the negotiated plan,
jach minority comapny will be
responsible for five per cent of
this total business.
Kimball Valentine, Jr.,
assistant to the treasurer and
insurance officer for M. I. T.,
said, "From the individual
insured's point of view, there is
no change. John Hancock is
still responsible for the
account, but it is transferring -or
ceding a share of the risk
and the premium dollar to the
minority-owned companies."
M. I. T. offers its faculty
and employees a choice of
group life insurance options: a
contributory plan, whereby
both M. I. T. and the insured
contribute a monthly
percentage, or a free policy,
providing $5,000 in insurance,
pro-rated in the case of
part-time employees.
Clarence G. Williams, special
assistant to the President and
Chancellor for Minority
Affairs, said the business
agreement illustrated M. I. T.'s
role as a prime mover in aiding
all segments of society.
' Wc hope this helps open
doors and generate new companies,which have already economically sound, reputable
contacts for the minority distinguished themselves as concerns," he said.
VY
i
1
ACCOUNTING TRANSFER OF A PORTION OF M. I. T.'s present group life insurance coverage
to two minority firms was discussed this week by (left to right): Kim Valentine, assistant to the
treasurer; William J. Kennedy III, president of North Carolina Mutual Life Insurance Company;
Chancellor Paul E. Gray; Clarence Williams, special assistant to the President and Chancellor for
minority affairs; and Weather Y. Sykes, senior vice president of Supreme Life Insurance Co of
Chicago. (Photo by Cahrin Campbel).