NBC Evening News for Tuesday, Apr 07, 1981
View other clips in this broadcast →
Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws. For any such use, please visit NBC NEWS Archives XPRESS.
(Studio) Report introduced
REPORTER: John Chancellor
(DC) "Bracket creep," relationship between higher taxes and less take-home pay, examined; cases of Mike Bauer, Philip Kromsky and Norm Schuman cited as exs. [Treasury Secretary Don. REGAN - notes insidiousness of bracket creep.] Bauer's situation outlined on screen. [BAUER - cites figure disparity.] Bauer family's situation discussed. [Carol and Mike Bauer - discuss family's financial binds.] Fin. situation of Philip and Gayle Kromsky outlined on screen, discussed. [Gayle KROMSKY - notes high prices and government's lack of response.] Accountant friend's help mentioned. [Philip KROMSKY - claims individuals have no control.] Mary and Norm Schuman's situation examined; details outlined on screen. [Mary SCHUMAN - questions value of her job in light of taxes.] Size of Schuman family and expenses mentioned. [Norm SCHUMAN - comments on futility of situation.] [Senator William ARMSTRONG - criticizes economy system.] Possibility that Congress will pass legislature affecting bracket creep considered.
REPORTER: Mike Jensen