Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
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to be covered by these private pension plans, there is discrimination in their favor and against those citizens who are taxed currently on money being accumulated for their maintenance in retirement. Inevitably, a revenue loss on one group of taxpayers must be balanced by higher collections from other taxpayers. The hearing testimony included an estimate of a $1.08 billion annuil tax loss because of the special treatment given private pension plans.
The stock option is an “incentive” device which many corporations make available to their executives. The grantee of the option gets the right to buy a certain quantity of the corporation’s stock at a fixed price. To the extent that the option has value, it is part of the executive’s compensation for his services to the corporation. Despite this, the income produces, when exercised, is not taxed in the same manner as the executive’s salary. Therulesare complicated, but here are example:
64.7%