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Show : Garn from : Washington . By Sen. Jake Garn The Humphrey - Hawkins Act, which is before the Senate, would direct the federal government, including the President, the Congress, and the Federal Reserv e Board to design and coordinate economic policies and programs pro-grams so that there would be an economic plan of action to insure full 'employment and balanced growth. The right to productive employment at fair rates of compensation would be conferred upon every adult American able, willing, and seeking work. The bill would also require a planning process pro-cess designed to reduce unemployment among adults to 3 per cent w ithin four years: it outlines various programs to achieve that goal. This bill is full of good intentions, but it would base national policy on a combination of wishful thinking, vague directives and avoidance of problems. For the politicians to suggest sug-gest that the federal government govern-ment should, let alone could, plan and direct this nation's economy in such a way as to virtually eliminate unemployment unemploy-ment is unrealistic. The legislation represents a totally wrong approach to bringing this country out of a recession. The only way in which we could enact this bill would be for the government to continue massive deficit spending. I certainly agree with Sen. Humphrey that our present economic policies have resulted result-ed from badly mishandled fiscal policies, as set forth and carried out by the Congress of the United States in the past several years. But. the Senator states "the existing broad policies have not been supplemented sup-plemented with more specific policies designed to deal with smaller aspects of the problem." prob-lem." This is just not so. The reverse is very much the case. Congress has tinkered with, adjusted and manipulated various segments of the economy, both directly and indirectly. It is through this manipulation that Congress has truly impacted this na- tion's economy. It is ther- I total of these kinds of ' that have caused the prefc to America's businessrcKi; have probably prevemeir, I nation's free enterprise k.: omy, the finest and i:: flexible economic force ic w orld, from being able tea with it. The Humphrey!, kins Act, would ignore tfci of supply and demand ik; free market system and the government the tc;-'. of last resort. To counteract this bii Sc James McLure (R Id ): ii Congressman Jack Kec; : NY) have introduced :; entitled the Jobs Creatot of 1977 which I so::r w holeheartedly. The oc.f"' of this bill is to accelen:; formation of the invesri capital required to eipi; both job opportunities u productivity in the p"r sector of our economy. Among the provisions Is"; in the bill are an across i board permanent 10 pa 3 reduction in tax rites, i exclusion from the income of qualified inii-any inii-any additional savings t-s mcnts made during the : vcar: the elimination of i.v taxation of common dinc'; bv allow ing a deductioc " dividends paid by 4 corporations: and an uvr;--in the corporate so: exemption, including prions pr-ions for reduced tues -small business. The Jobs Creation 1 would create jobs u v private sector. It would s' inate the need for ei'-fedcraj ei'-fedcraj grant and Uo P grams by reducing une"' mcnt and returning perve self-sufficiency and i tuf crating, rather than I -consuming status. Itvvc-into Itvvc-into effect simple and " provisions which ouM "-it "-it possible for the supp the government to be private sector where jo.';; be created cft'ecm reforms in the MoUre' bill would make it possi us to move to!"1 sustained growth, t productivity and real |