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CONGRESSMAN REPORTS Continued from page two see that there is.a tax discrimination h$te in favor of the beneficiary of the option and against other stock investors not so fortunate as to be able to buy at a bargain price.
The special tax treatment accorded plain for the accumulation of retirement income by certain groups_be they executives or production workers in industry„_has given rise to strong demands for a similar concession by the 10,000, 000 self-employed and the some 49,000,000 million employees not covered by tax-favored pension plans.
We could put some more patches on the tax garment to accomplish this, of course, but the tremendous revenue, loss would have to.be made up by increased levies on that part of the national income not benefiting by the discriminations. Or, we could strip away these discriminations, favorable and unfavorable, and collect the needed revenue by relatively equal taxes on equal income, regardless of source, through a reduction of up to twoth?rds in the scale of income-tax rates. We cannot have tax reform worthy of the name, though, by focusing on a few discriminations while insisting that others,'involving equal or greater revenue loss, remain sacrosanct.
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