OCR Text |
Show g monday. mav 29. 1978i N NOW REGISTERING FOR FALL 78 BRIGHTON MONTESSORI PRE-SCHOO- University Staffed AMS Certified Ages Curriculum 2 V2 PHONETICS SENSORIAL GEOGRAPHY MUSIC arts MATH Tours arranged Register Now! L to Kindergarten open account PRACTICAL LIFE FOREIGN LANGUAGE SCIENCE Chuck Akerlow No obligation 1 imited Enrollment 2887 E. 70th South Phone: School: Salt Lake City, Utah 84121 Rpsirlenre: REGISTRATION BEFORE JULY 1ST 942-437- An attack on excellence 942-228- 8 9 - GET 1977 RATES J To some of you I may sound a bit strident in g defense of the free enterprise system my and my consistent concerns and occasional attacks on the attitudes of the federal government particon American business. ularly this administration While I recognize it is under some pressures to redistribute the money flow from the haves to the have nots, I still believe this countrys greatness results from its dedication to excellence in all that it never-endin- does. realize there have been those in American business who put the profit motive first and cut corners in their products, thus cheating us all by denying us an excellent product. But the fundamental driving force of American business, as well as American labor, has been to build a better mousetrap and provide a superior service. When I see the insistent attacks on American business by the Environmental Protection Agency, the Occupational Safety and Health Administration, the Securities and Exchange Commission, the Internal Revenue Service and the President himself, I become concerned about the future of our free enterprise system. There is no question that certain abuses need to be corrected. Nor is there any question that government planners know little about the dynamics of the American business system and what makes it successful. Yet their power through federal regulatory agencies is so vast that the damage they are inflicting will only harm the economy and eventually destroy our national quest for excellence. For example, the chairman of Citibank, Walter Wriston, observed there are more than 1,200 interpretations by the Federal Reserve staff of the Act. He also points out more than 90 percent of the commercial banks in the country have fewer than 100 employees. He asks: How can these smaller banks ever be expected to keep up with changes in the law and still remain viable business organizations? A corollary question: Do we really need the weight of 1,200 interpretations in order to protect the borrower? There is a definite psychological need in this at bigness. We pot-shcountry to take big well as big business. The difference, government as is of course, that big business creates wealth and adds to the gross national product, whereas big government drains the G.N.P. and produces nothing. Take IBM for example: One of the few scientific edges we still have on the rest of the world is in computer hardware and software. However, the government is actively trying to break up IBM. The question is: What is the public good in breaking up IBM? Should we break up the New York Yankees because they have been so good and successful? Fortune magazine recently printed a perceptive article about the Presidents attack on business travel and entertainment accounts. As you know, the President is concerned with the three martini lunch because he believes the taxpayers are subsidizing it. He also believes since people enjoy it, it should not qualify as a tax deduction. The idea that taxpayers are subsidizing it is questionable, since travel and entertaining are part of business and a part of sales. As Senator Russell Long noted, Entertainment is to the selling business what fertilizer is to the farming business. Entertainment and travel arc investments in business, not benefits of business. The tax system should be used to encourage investment in the economy rather than as a penal I Truth-in-Lendi- ng pot-sho- ts How do you get Personal Touch Banking Teller? from a Drive-Up Kasy. Drive up to Walker Hank. Your teller may be thirty feet away, but you'll tfet the same fast, friendly hanking you get inside. And you never leave the comfort of your car. Plus, we'll give you lollipops for your little leaguers, and even a milkbone for the team mascot. Personal Touch Hanking at Walker Hank. Ihfuuse a bank should be more than just a place to put your money. Walker Bank Mambor Federal Deposit Insurance Corporation ot code against it. But the idea we should tax something because it is enjoyable leaves this taxpayer wondering what the government will propose to tax next. The real problem here, as I sec it, is a kind of populist envy of what appears to be going on in the business world without recognition that it is American business which propels the G.N.P. forward and not the other way around. |