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Your future \
The Associated Press • recent* Ijr carried a very interesting little story, based on information ■ provided by Commerce Clearing House, an organisation that is concerned with tax and business law.
According to the story, * Tf you are a 29-year-old average male, you can look forward to paying a minium of $34,700 in taxes by the time you are 65.'* Thig average 29-year-old earns $4500 a year, and has a mortgaged home and two children. Of that $34,700 tax bill almost half — $16,684—will go for Federal income taxes. The rest will be levied in the form of real property taxes and so down the long list. _A
The $34,700 figure, remember is a minium. No one can forecast the future with accuracy. If government goes on with the prodigal waste that has characterised it for a generation, the ultimate tax bill for the 29-year-old average man and everyone else will be far higher. On top of this, more government - induced inflation .will sharply reduce the purchasing power of what little money we have left after the tax collector gets through.
It is commonly argured that
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