Salt Lake Telegram | 1935-09-25 | Page 3 | Dangers Seen in Security Act

DANGERS ANGERS SEEN IN SECURITY INSECURITY ACT CHICAGO Sept 25 UP UP UP-lL H. H C. C Jac Jackson ackson on of Cleveland Ohio told the 10 United Mining congress today that lat Industry faces either socialization socialization tion on or complete te collapse through though vIolent inflation if the social security se- se entity act is carried out in its present present pres- pres ent nt form Before we finish the program set et up by this act well we'll find practically practically cally ally everybody receiving gratuities from rom the federal government he be said aid Jackson a member of Mather lather Co warned that the United United Unit- Unit ed d States States' wrote the invitation to public a-public spending orgy when it itac- itac accepted ac- ac the social securities actOn actOn act actOn On top of ot all this he said J also consider that on the best available figures the tho amount collected in ape ape- taxes plus plus' the Interest Interest- paid to o the government by Itself will wUl by bythe bythe the he year 1980 be bo less than the total benefit pay payments paid out nIt cur- cur In other words we are going to find ind find by 1980 If not rot sooner sooner- there will wm be a deficiency in collections and a higher tax will be be necessary S Eighty Eight million government ment ledger accounts will be necessary to keep tab ab on the for forty y million employed individuals ls s subject to old ago benefit bone bone- fit it and unemployment feat features re he c continued This will wll create jobs for fol political officeholders he be pr prophesied and make mako our present federal bureau bureau bureau bu bu- bu- bu reau seem as pigmies pigmies' in comp compari compari- ri- ri son Conte Contending ding that the act probably is unconstitutional Jackson nevertheless never never- the ess predicted predict d that Industry will for the present comply with Its pro pro- visions James A. A Emery general S l counsel National Association of Manufacturers Manufacturers told the congress that the nations nation's pr present ent prosperity w was undoubtedly undoubtedly un due in part to the the smooth smooth working relationship between employer employer employer em em- and emI loye He urged urged- the labor c combination tion however to remember the superior rights of the community and the need of Increased social responsibility ty J