Show ft I Round Merry s f Blank Check for Military Opposed By Drew Pearson V WASHINGTON One WASHINGTON One of the most im important important economic reports ever prepare prepared by Congress will soon recommend the r re removal moval of farm support 11 prices and a high tax r program which may set t 4 r y 1 American living standards standards stand stand- r. r r It f ards for the thc next 10 to to 20 years It is also aco proposed pro pro- posed to abolish all federal fed fed- t ld M p peral r eral subsidies to the thc N. N t f states slates The rc ort has report the f support of both Senators Sena Sena- r rI tf tors Joe O Mahoney of I W V Wyoming y yom o m i n ii g Democrat and Bob Taft Ohio Re- Re ReDrew Drew Pearson publican and has been adopted so fa far confidentially by the joint congressional c committee on the economic report i f Though the report has not been made mad made public this this column has obtained a co cop Y Its recommendations are based upon long pull which is expected to strain r the nations nation's economy for the next 10 to Z 21 years i t tIt It In ln blunt blunt language the report urges It It is 15 essential that new and heavier taxes be promptly assessed Increases in with holding rates and corporation profits taxes are vital now They are arc necessary t tc to put a damper on price increases whit arc are steadily gnawing ving 1 away at civilian income income in iri come and government appropriations j I f Tl The e report adds however that peo people le lewith with incomes of a year or Ot less are are already overburdened by the increasing g cost of living and the present level leyel o 0 of taxes The government cannot look to them for any substantial new revenue I Watch the Military Warning Military Warning against writing a blank check for the military militar the thc report declares declares- In a long period o heavy defense expenditures there does doe's do s' s snot not exist the urgency to spend first an and andi d d then look around and see how much th thel government will need to borrow in order orde to pay its bills the defense should be cut to the revenue cloth J military hoarding of man power and ma materials m mai must be kept to a minimum The report also warns that deficit spending cannot be contemplated even fo the current defense program unless Wy w ware we weare are willing to invite the up crack-up of th the American system Congress short o of out all war should make no military a ap a unless and until adequate to tax ta revenues are arc definitely in sight M Here are other important highlight highlights of the Taft Taft Ol economic blueprint n 1 The report drastically suggests abolishing federal aid to states and rel rely relying ing upon traditional local methods of Ii fi financing education and medical aid an public health The report points out tha thain thain thain in a period of run long-run inflation and ec ceo j i strain the role of the federal government goy gov with respect to state govern governments gov govern r i ments might well be reversed S 'S 1 II No Parity Prices Prices 2 2 The report d de scribes farm parity as a device whit whicH was invented at the depths of the agri agricultural cultural depression and hints strongly that it is now note out of date To To permit private vate price support programs to J with undiminished force says the report is His merely to set up an unbeatable mech medial f of in inflation 3 3 The report also takes a dim view o of of- public housing and rent control declaring The need for government provision of of- housing and community fac facilities cail hardly be large r The need for extending extend exten r ing and strengthening rent control has no noet yet et been clearly established f 4 The report views with suspicion th tremendous tax deductions that have bee granted to corporations for expanding d de d plants Yarning Warning against from the inside the report notes tha corporations and other businesses hav hay been granted certificates of eligibility fp fa 9 tax deductions in phenomenally larg amounts with respect to fac facilities whit had been planned and begun in ma mani cases months before the war broke o oin ou in Korea r Antitrust Pro Program 5 ram 5 The report als ali ads ad a tough antitrust program F Fab from grantin exemptions or postpone postponement ment of antitrust action the report urge urges the Uthe government must more than ever push the program to aid sma smal business and to preserve free private t. competitive enterprise 6 6 The report takes a crack at co corn speculation tion warning that thi Uth course of commodity prices during 1951 has demonstrated again that the cost o 0 living not to speak of costs of product in general should be freed from uni uniformed uni formed and indiscriminate manipulation t. t After pointing out the tough roa ahead the report adds hopefully Th United States has the spiritual power th h. h I economic strength and the resources to perform the task it h undertaken Inside Senator Since Since Este Kefauver has been exposing other people here is a little exposing of Estes Kefauve His office walls arc are cluttered wit scribbled drawings of his year 7 daughter His ambition is not to de dewith dea with crime but become an expert on th tho foreign relations committee Yale trained he he once wrote a book Century Congress urging that emigres be streamlined He even blasted h hi q colleagues for taking expensive junkets junket to Alaska Hawaii etc at the taxpayers taxpayer expense One of oC the few men who eve bucked the Crump machine in Tennesse and lived politically to tell the tale talc Bos Bo Crump of Memphis l pulled every trick i 1 ithe ithe the ba bah bag to defeat Estes even claimed h was a foreigner foreigner- It all backfired Kefauve was born in Madisonville Tenn 0 11 Kefauver's office wall also hangs n a coo coo coor skin cap in a glass case case- He wore I il HU ll stumping the state against Boss Cr Crum ma coonskin have three rm ring a My ul mn may around its tail tail 1 he e told voters volel's but l it i i doesn't have a ring through t its nose t IlU 10 nil |