Word: feinberg
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...would talk to high officials in Government to seek military contracts to help the mine prosper. As he was about to catch a plane to Europe from Kennedy Airport, Williams accepted the stock certificates. They had been made out to a longtime associate of the Senator's, Alexander Feinberg, a New Jersey lawyer who had endorsed the stock, making it transferable to Williams. According to the Justice Department sources, all of Williams' transactions with the sheik's agents were filmed...
Throughout his article Mr. Feinberg refers to the value added tax as "regressive," as opposed to the "progressive" income tax. These labels are, technically exactly correct. The problem is that Mr. Feinberg neglected to indicate that these terms have different meanings in economics than in everyday life...
...economics a "progressive" tax is one that is levied with respect to the taxpayer's income; a "regressive" tax is one that is levied irrespective of the taxpayer's income. By failing to define these terms, Mr. Feinberg left himself free to associate "progressive" taxes with progress and social justice while associating "regressive" taxes with Louis...
...Feinberg criticizes Senator Long for saying that our income tax structure is "progressive to the point of being counter-productive." It might interest Mr. Feinberg to know that at present our highest marginal tax rates generate very little revenue. Furthermore, the institution of more progressive tax structures than ours in such countries as England and Sweden has only succeeded in forcing wealthy potential taxpayers to move themselves (and their incomes) to lands with more favorable tax laws. Does Mr. Feinberg seriously want the United States to introduce such a self-defeating system? Ted Higgins...
...David Feinberg responds...