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Show The Paper That Dares To Take Page 4 Tfie Utah Independent April 3, 1975 Memorandum in Regard to Federal Finances IMPORTANCE OF PRIVATE ENTERPRISE SYSTEM For u nation to be successful, have must 'a system of private enterprise in which the capital required by industry is supplied by the people and the industry is owned by the people who supply the capital. it The opposing sys- socialism in which the government supplies the capital and owns the industry, has never of investment capital by printing money. (The Tax Council Preliminary Report. July 1968.) In spite of the great benefits our American system has brought us. it is in danger of being radically changed or destroyed by taxation. supply THREAT OF SOCIALISM tem succeeded. IMPORTANCE OF CAPITAL Over 90 of all work in this country is done by machinery. Without this machinery there would be no railroads, automobiles, electric power and appliances, telephones, or the many other things which we have come to regard as necessary. Almost everybody would have to till the soil to raise enough food to prevent starvation. Hours of labor would be limited only by human Life would be one endurance. constant and continuous struggle for existence. This machinery, so important to the people as a whole, has been made possibel by the savings of a small fraction of the American people, who were encouraged to save by our system of private enterprise that has provided an incentive for people to work, save and invest in productive enterprises. It is this machinery, provided by the savings o f the people, that has made the high wages and high scale of living possible for the people of this country. In order for our private enterprise system to operate successfully it must have a steady, continuous supply of new private capital, billions of dollars each year. This capital is required to start new industries and to maintain, expand and improve existing ones on which so many jobs depend. It is estimated that the labor force will grow by about 1.400.000 a year in the near future" and that from IS thousand dollars to 20 thousand dollars of new capital per worker will be required to supply the needed jobs. The yearly total comes to 21 billion to 28 billion dollars. In addition, there is a very large amount of capital needed to improve the earnings of people already working to come close to their hopes. Despite all the uncertainties of est imating the supply of new saving, the weight of evidence presented here seems clearly to indicate that new saving will probably fail by considerable amounts to pay for as much capital formation as our rising expectations lead us to hope for." (Address by Dr. C. Lowell Harriss. Professor of Economics. Columbia University. December 6. . The effect of the tax on capital gains, the confiscatiory taxes on inheritances and gifts, and the heavy graduated income tax is to lessen or destroy the incentive to work, save and invest in productive enterprise and to reduce the supply of private capital so essential to the of our private maintenance enterprise system. .As a result, it becomes necessary for the government to supply the capital in proportions, until the government eventually becomes the owner of the business enterprises of the country. This is socialism. In a statement to the Temporary Economic Committee prior to World War II, Adolph Berle. Jr., Assistant Secretary of State, said: The government will have to enter into direct financing of activities now supposed to be private, and a continuance of that direct financing must mean inevitably that the government will ultimately control and own those activities.... Over a period ofyears the government will gradually come to own most of the productive plants of the United States." In 1957 a nine-pa- rt study was the made by Legislative Reference Service of the Library of Congress on the Adverse Effects of Expanding Government. This study was made at the request of Representative Ralph W. Gwinnand sixteen other Republican and Democratic legislators and is dated June 27. ever-increasi- ng 1957. In the chapter dealing w ith the adverse effects of high taxes, the study says: "The forces of high taxation in the United States have been abetting the creeping socialism in the . other parts of the economy. "Further data have been presented to show that if the United States continues its rates of absorption of national product by taxes we will reach 100 percent socialization in the next century The greatest danger of high taxation lies in the fact that we are proceeding in the direction which Karl Marx in 1848 predicted would be the road to destruction of capitalism, namely, destruction of the middle class with the aid of a highly progressive tax." (Emphasis supplied) History demonstrates that socialism has never succeeded. In the words of the Honorable Nonpartisan? She is paid by the hour for whatever time she puts in. which is about 25 hours a week. Do you have a Phil Erickson in your department Q: in charge of maintenance? He is in the support division which includes A: May 15. 1970.) In addition, we have the widest distribution of wealth among the people and the highest scale of living ever known in any country at any time in all history. It would seem obvious that our tax system should be designed to encourage the increase of private capital on which the success of the private enterprise system depends. If private capital is so important to the welfare and success of our country, why does our government deliberately destroy it by taxation? Let em Go Palestinians and Jewish spokesmen for Israel have had their fling at oratory in the United Nations, but apparently the memory will linger on in Congress for the mayor of New York City says hes to demand going 0,000 from American taxpayers for the costs of providing police to keep the Palestinians and Jews from getting at each others throats. But thats not all. The mayor wants another $3 million from the U.S. Treasury for the protection of the U.N. and the foreigners it .attracted all this year. Since Uganda dictator has invited the U.N. to move to his country theres no better time than now to get rid of this costly polyglot 57 5 organization. -- Cong. II. R. Gross (Iowa) maintenance. Is it correct that they are man and wife? Q: A: Q: A: Yes. A: Q: Yes. What are their combined salaries? Janes wage fluctuates from week to week depen ding on hours she works. For February the total earnings of the two was $1,094.80. Do you have opinions regarding the contract that Q: was proposed between Pete Grundfossen and County Attorney Van Dam? No Comment. A: Is Stefanie Peterson, who is your Administrative Q: Assistant, Grundfossens wife? Did State Democrat Chairman John Klas give you $3,000 for your campaign, as he stated in a meeting? Klas assisted in raising about that much. This was' A: not originally Democrat Party funds. How much of this money came from liquor Q: representatives? A: Less than $100.00. The significance of the answer to the question about Democrat Chairman John Klas giving $3,000 for Commissioner Greeners campaign is that a City Commissioner holds a position. In positions and elections party funds are not supposed to be used for candidates even though the candidate may nominally be a member of a certain party. This is the significance of Commissioner Greeners answer in which he said that the $3,000 was not originally Democrat Party funds. The fact remains that Democrat Chairman John Klas assisted in raising that much money which was turned over to Commissioner Greener. According to the Commissioner, the complete record of campaign funds collected for his successful campaign are in the office of Roger Sandack, who is an attorney here in Salt Lake City. Commissioner Greener appeared oh the Fred J. Glotz KSXX radio program on Friday, March 28 and some of the same questions that. I had asked him on March 18 were brought to his attention by callers to the radio station. Commissioner Greener in responsingtotheques-tion- s of the radio callers answered in the same way as the answers given in this interview. He pointed out that the help of John Klas was that of one citizen helping a candidate for office. In covering these types of questions at this time 1 would like to make clear that THE UTAH INDEPENDENT is not attempting to affect the future election of Mr. Greener in 1977. Rather the INDEPENDENT is attempting to get the facts concerning rumors which had been brought to this newspapers attention. We feel that with millions of dollars in federal funds through revenue sharing being funneled into state, county, and city governments throughout the nation that it is very worthwhile for the public to be aware of any potential scandals or actual scandals which may be taking place in public offices. It is the intent of the Utah inde PEN DENT to investigate by straight-forwar- d interviews any such rumors that are brought to our attention. non-partis- Men change their uMy people are destroyed for lack of knowledge. West Tomplo Stroot Salt Laka City, Utah 84101 NEW & USED G PIANOS Across from Salt Palace GEORGE NIEDERHAUSER Hosea 4:6 MECHANICAL CONTRACTOR Commercial & Industrial Plumbing Heating & Air Conditioning and PUTE WASATCH METAL & SALVAGE BUYERS 65 s. H-- SALT LAKE OTY. UTAH 484-351- 1 OF SCRAP IRON AND METAL 1 an MUSIC COMPANY South promotional materials. Custom printed to your order. Buttons, bumper-stickerideologies like they change pennants, bookmatches, posters, their clothes, but the Word of etc. etc. Lists. Enterprises, Dept. HE. Clarklake. Mi. 49234. 27t2 God endures forever. Alao USED PIPE PHONE non-partis- - NEW CHANNELS ANGLES, FLATS, and SQUARE TUBING 205 Watt 33rd South an BICENTENNIAL COMMITTEES Complete line of attractive, low cost FOR SALE 1968.) One of the world's serious problems today is the shortage of investment capital. " Last September in an appearance before the House Ways and Means Committee, the Chairman of the Federal Reserve William McChesney System, The world said: entire Martin, Jr., today has a shortage of investment capital and all the countries of the world are trying to supplement the Samuel B. Pettengill. for some years a distinguished member of the House of Representatives from Indiana: We have had 400 experiments with socialism in America, such as the Plymouth Rock Colony, New Harmony arid Brook Farm. They allfailed. They failed because in time the industrious got tired of supporting the drones. So they quit. On a nationwide scale, the result can only he the same. The effect of socialims on England has been tragic. On the other hand, that our private enterprise system has worked is demonstrated by the fact that our nation, with six percent of the worlds population, produces over fifty percent of the world's goods. (Address of Admiral Ben Moreell. Stand Are Salt Lake City Elections A: by Robert B. Dresser A 6 Kensington Ave. Salt Lake City 484-525- 5 |