THRIFT
Sir, —We start the New Year on a note of ribald laughter. Mr Nash’s New Year message tells us that the existing setup “discourages thrift.” Thrift, I take it, implies saving what one can and investing it. Thereby one acquires interest. Politicians rely heavily on the short memory of the public. We can recall Mr Nash’s idea of encouraging thrift while he held the reins. One saved what one could and derived interest therefrom. But on one’s income tax demand, the result of one’s savings, called “unearned income,” carried a savage penalty, above normal earnings. For my part. I was one of many who spent what I could, rather than invest it and be stung by this absurd penalty on thrift. Give Mr Nash a chance to do so again, and Mr Citizen will soon learn to his sorrow what “penalty on thrift” means.—Yours, etc., ANON. January 2, 1957.
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Press, Volume XCV, Issue 28167, 4 January 1957, Page 2
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150THRIFT Press, Volume XCV, Issue 28167, 4 January 1957, Page 2
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