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Show Friday, June 5, 1959 THE AMERICAN STATESMAN Ridiculous Dan Smoot AUDIT OF THE NATIONAL INCOME OF THE UNITED STATES . Loss or gain of principal segments in 1958 as compared to actual income 1958 Income Based On 1946-5- 0 Average In Billions 1946-195- Production and Prices with same balance as 1946-195- 0 average 1958 Income In Billions 0 national income is based on a farm price at 126.7 at wholesale the same as 9 the current wholesale price for other prices at wholesale (BLS Wholesale Index 1958 1947-194- and a production index of 160 of reflecting a 4 1947-194- 9 1953 per year. expansion from The rate of $427.7 Billion of national income on the basis of 21 to the Federal would a Billion and leave revenue of Federal treasury surplus of $9.8 provide $89.8 Billion with Federal expenditures approximately the same as the fiscal year ending in 1959. Corporate profits of $54.2 Billion after taxes and dividends would leave approximately $14 Billion of undistributed profits available for expansion as compared to approximately $4 Billion from the actual income of the United States in 1958 due to an The as compared to payroll and capital expansion since 1946-195operation of 80 $14 Billion undestributed profits can be compared to an average of $10.7 Billion in 1946-195- 0 when our natioinal income averaged $211.0 Billion. The loss of interest shown in column 4 as compared to returns in actual income of 1958 amounting to $4 Billion is the excessive interest due to excessive debt expansion to. create the markets loss by underpayment for farm products which determines the income and markets in rural areas. Note particularly the fact that total payrolls in 1958 in column 3 were $253 Billion. This is an increase of $72.7 Billion above 1951 payrolls. The national income in the third column is $77.1 Billion above the national income in 1951. In other words in 1958 were taking up $4.4 Billion of the increase in national income from 1951-195It illustrates the complete dislocation in our economy and the lack of production and income to meet the payrolls anc additional capital costs which have taken place since 1951. Prepared by CARL H. WILKEN, Analyst 0. 8. Repeal Wyo. Tax Col. 1) from Balance Budget Constitution of the United States' shall stand repealed and thereafter Congress shall not levy taxes on personal incomes estates andor gifts. RESOLVED, .that a certified copy of this Resolution be forwarded by the Secretary of State to the President of the. United States Senate, Speaker of the House of Representatives, and to each member of Congress from the State of Wy- EACH HOUSE Page (Continued 1 the oming. Signed: President of thi Senate rQf the House APPROVED GOVERNOR .7 2 (EDITOR: We were just notified that Texas passed a resolution identical to the Wyoming resolution. The Texas House of Representatives, on May 5, 1959, passed it by a vote of 80 to 5. The Senate concurred with' a voice vote. , In Florida, the House of Representatives just passed House Memorial 574, Introduced by Messrs. Stallings, Duval County; Eldridge, Dade County; Pruit, Brevard County; ONiel, Marion County. The Senate Committee approved the resolution and is, at this writing, pending. This resolution is also identical to the Wyoming resolution. (It can be done. Should several of the states take notice and so act, Congress would have no alternative but to act upon a referendum and let the people decide. It is not a wild dream, but a reality.) Col. 2) CONCURRING (Continued from Page 1 THEREIN), That the following article is hereby proposed as an amend- ment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourtof the several States: hs ARTICLE SECTION 1. On or before the ' Page 3 Republicanism from Col. (Continued 4) Page 1 On the other hand, staunch, uncompromising conservative Republicans were in spite of the relentless campaigns waged Comagainst them by the CIO-AF- L mittee On Political Education squads (COPE). Of course, the of Senator Barry Gold water of Arizona ranks as the top conservative victory of the nation. Also, to name but a few, Congressman Bruce Alger, H. . R. Gross, Wint Smith, and August Johansen, all Republicans, and all uncompromising conservatives, were If the Republican party wants to be alive after 1960 they better Throw the rascals out! It is time to eat humble pie. Embrace conservatism; seek out these great constitutionalists; place them in power; do this, and the two party system will return, return the Republican party candidates to office. Forget this fatal Me too re-elect- on Says .. Editor: Dan Smoot was born in Missouri. Took his BA and MA at SMU in Dallas, Texas. He joined the faculty at Harvard as Teaching Fellow in English. In 1942, he took leave of absence and joined the FBI. For three and a half years, he worked exclusively on communist investigations in the Industrial midwest For two years followirig that he was on FBI headquarters staff in Washington, as an Administrative Assistant to J. Edgar Hoover. After nine and a half years with the FBI he resigned to carry on his present type of work. It will be the policy of this paper to quote from the Dan Smoot Report each week If you would like to read the full report and subscribe to the weekly Dan Smoot Report rates are $10.00 a year. Write P. O. Box 1305 Dallas, Texas. Single copies of 'the Dan Smoot Report are 25 cents each. From Vol. 5, No. 19 On April 27, 1959, U.S. News & World Report published an article entitled, Is U.S. Pricing Itself Out of Markets? The following excerpts have been taken from this report: Situation Oregon, like most other states, is spending more money than it can afford and doesnt know just what to tax or whom to tax to get the needed revenue. To get taxes from the people by indirection, the law makers eye public utilities. That is probably as good a way as any other to pass a tax on to the people, because an electric company is publicly regulated and its rates are based on its cost of operation. So the people pay taxes through high? er rates and think they are not being assessed by the legislators. The electric companies become tax collectors via increased rates, the same as are oil companies when gasoline taxes are raised. In Oregon, as in other states, an increased utility tax would only apply to private utilities. In the case of electric companies, the taxes would not apply to the gigantic government plants on the Columbia River. These projects that take the place of heavily-taxe- d private developments that they eliminate, dont pay a thin dime in the form of taxes to cities, counties, or states. All over the United States, advocates of Federal power schemes of various kinds are adding to the burden of local taxpayers and knocking the Federal treasury out of hundreds of millions of dollars of taxes, which would otherwise be paid by private enterprise furnishing needed electric service. In a supposedly country, this is a ridiculous situation to say the least. tax-exem- pt non-socialis- Nails: More than one-thir- d of all nails used in the United States are foreign made. Reason? Workers in American nail manufacturing plants make on an average more than $2.90 an hour. Nails just as good are made in Germany at a wage cost of 90c an hour in Japan for 40c an hour. Add this to the cost of raw materials which cost the American manufacturer more than the foreign businessman . . . ... tic II. M. Dues It was reported this last week by the Secretary General of the United Nations that Russia has failed to pay their dues in the last few years. Without this money the U.N. would be unable to pay the bills for the present full year, except for the fact that they can borrow from the international monetary bank. Of course, the United States is the unemployment for Americans. biggest contributor to the international bank so this means that, Barbed Wire: An American inwe, the taxpayers of the indirectly, vention, was once made almost ex- United States, are at the present clusively in America. In 1958 more time paying most of the Russian than one third of all barbed wire sold in America was made in for- governments dues to the U.N. eign mills with foreign steel. Bicycles: American labor costs, $2.30 an hour. German labor costs, plants and now manufacturers its between 60c and 70c an hour. Eng- machines in Japan. This is but a microscopic exlish labor costs are oniy slightly of what is happening ample higher. This along with the cost of America. We throw, litthroughout materials, is why 71.8 of the bibillions of dollars into Forcycles sold in America are foreign erallyAid in order to throw more eign made. and more Americans out of jobs. At the same time we tax the emstill Machines: Sewing Singer makes machines in America; but ployed more money for Foreign Aid White, the second largest in the to, in turn, throw more Americans world, has closed its American out of work. THEN ADD THE COST OF FOREIGN AID IN TAXES TO PROVIDE THESE FOREIGN COUNTRIES MACHINERY WITH MODERN AND TECHNIQUES. The facts spell fifteenth day after the beginning of each regular session of the Congress, the President shall transmit to the Congress a budget which shall set forth his estimate of the Government, other than trust funds, during the ensuing fiscal year under the laws then existing and his recommendations with respect to expenditures to be made from funds other than trust funds during the ensuing ing fiscal year, which shall not exceed such estimated receipts. Tim President in transmitting such budget may recommend measures for raising additional revenue HUNGARIAN NEEDED and his recommendations for the Free Hungarians have a The revadditional such of expenditure enue. newspaper. They have mailed us several authorize If Congress shall expencopies. Some of it is in ensuch ditures to be made during English but most is not We like to have a Hungarian would such suing fiscal year in excess of to read and report to volunteer estimate of the receipts, it shall not is us what in this paper. adjourn for more than three days at a time until such action has been taken as may be necessary to balance the budget for such ensuing fiscal year. In case of war or other grave national emergency, if the President shall so recommend, the Congress of all Issues of the American Statesman for only by a vote of three-fourtHouse of each the members may Fill out blank below and Mail to: suspend the foregoing provisions for balancing the budget for periods, THE AMERICAN STATESMAN either successive or otherwise, not State Exchange Building, 345 South State, Salt Lake City, Utah- to exceed one year each. PLEASE PRINT Section 2. This article shall take Full name Zone effect on the first day of the calCity. endar year next following the ratiAddress .......................................M.....M...... .......... .......... .................. .......... State ................................ fication of this article. PLEASE CHECK: enclosed is $5.00 money order. Check SECTION 3. This article shall be If four would to like have consecutive complimentary copies sent to some of you inoperative unless it shall have been ratified as an amendment to the your friends please fill in their names and addresses below. PLEASE PRINT Constitution by the legislatures of three-fourtStates of the several Name Name ... within seven years from the date Afifirflss AHriross .... of its submission to the States by 1 State. State. City. City. the Congress. (EDITOR: It is evident, and we fl ttio ........................... ................................ ... .Name., shall continue to show great evidence of this, that there is a powAddress Address erful movement across the nation State State.. City. City. and with the nations leaders to stop this spending and going into debt) re-elect- R: 52 hs . hs 5.00 |