Word: capitalist
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During the question and answer period, several members of the National Labor Caucus asked Skinner to "take responsibility for the implications of his theories," citing welfare incentive programs and "capitalist oppression of the working class...
...made by money should be taxed at the same rate as money made by men." This has touched off a great controversy over capital gains taxes. Supporters of the present tax structure insist that money made by money deserves preferential treatment, in part because it represents the reward for capitalist risk taking. They add that McGovern's tax policy would hinder investment that is vital to economic growth. There would indeed be some danger of dampening investment, but McGovern has at least produced a tax program that is logically consistent and that would obey the principle of levying taxes...
...Harold Willens, 58, calls himself "a dyed-in-the-wool capitalist." A wealthy Los Angeles realtor, he started out in utter poverty. "McGovern," says Willens, "is a man whose concerns are deeply human and deeply moral. As things are, we are putting our money where our myths are?like the myth of the domino theory?and we napalm little children and contravene the ideals for which this country was founded. We have lost our soul in Indochina, and this has created a fantastic crisis of confidence. People have lost faith in their Government, and the economy depends on confidence...
...neighbor who also makes $30,000, but gets it entirely in the form of profit on the sale of stock, could pay less than half as much. Is that fair? To Richard Nixon's economists, the lower tax on the stock profit is both a just reward for capitalist risk taking and a necessary stimulant to investment. To George McGovern's followers, the preference is the biggest "loophole" in the tax code. Says McGovern: "Money made by money should be taxed at the same rate as money made by men. Tax justice demands equal treatment for Americans...
There are many obstacles in the way before the plans can be implemented. The most troublesome are quasi-ideological: the capitalist U.S. and socialist Soviets have different business systems that find it difficult to make contact...