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Show most 500,000 corporations, with the figures taken from their 1937 reports to the government, shows ' that all of them together paid 48c ! out of every dollar of gross income in wages and salaries, 25c for goods and services bought from the outside, 6i.c in depreciation, 14c in taxes and had left only ec for the stockholders or owners. Even this 60 was not all paid out to the owners, because a lot of it had to be plowed back into, the business to make new and more jobs. It takes over $6,000 of new capital on the average to create an additional job in industry. indus-try. And this money must come out of profits, or there will be no more new jobs. People generally should learn the simple truth that all tools and machinery and the many devices that have increased the income of the human race, had to come out of profits. They should realize that we would still be savages if there had not been profits made and then invested to create jobs, should know that they get only what is left after all expenses and costs of production and running the business are paid, and that the share which goes to the owners is only about one-tenth as much as that which goes to the workers. V PROFITS .. WAGES JOBS By Dr. Alfred P. Haake (Editor's Note Alfred P. Haake, Ph. D., Mayor of Park Ridge, Illinois, is a noted Economist, Business Consultant, Lecturer and Author.) The recent Republican landslide which swept New Dealers out of control in Washington, did not settle set-tle all of our problems by any means. A majority pledged to restore re-store sanity in government expenditures ex-penditures and other governmental governmen-tal affairs will help, of course, but the real job still remains to be done. We have to correct a number of mistaken ideas which have misled mis-led millions of people in their thinking. What people believe to be true, or their ideas of what is the truth, can be even more important im-portant than the truth itself. It is ideas that finally rule the world even though they be mistaken. Mistaken ideas can -destroy us. Back of the New Deal were, and are, a number of fallacious ideas. That they are not true to fact, does not make them less dangerous. danger-ous. Actually, it makes them more dangerous because of the encouragement encour-agement given to Communists and other collectivists. They must be corrected before they destroy us. the notion that most of the in-Among in-Among those mistaken ideas is come produced in, this country goes to the stockholders, or owners own-ers of industry. A recent poll showed that about two-thirds of the American people believe that stockholders get more than one dollar in profits for every dollar paid in wages. If that were true, I, for one, would wish to see our system changed. It is true that about 80 of all production is attributable attribu-table to the tools and machinery, and ,only about 20 to the manpower man-power which uses the- tools and machinery. But I believe that the workers should share in the production of the tools which serve the workers. And that means that the workers ought to get more than 20 of the total product pro-duct turned out by indutry. Well, the fact is that the work-i work-i ers not only share in what is produced pro-duced by the tools, but that they actually get the lion's share of the total amount available to both workers and owners. Instead of getting only 20, they actually get more than 80 percent. And the owners, instead of getting 80 percent, get considerably less than 20. A study and report issued by the U. S. Dept. of Commerce, shows' that the workers in manufacturing manu-facturing industries receive over 84 of the total income produced by the industries. A study of al- |