Show THE OF Is insurance I I 9 Ky if of Commerce The law of supply and demand is one he sad of wage and price con- Ti by War and a vast tried Is cording to the blood shed upon slight and trifling V In while their soldiers almost starved at Valley American farmers sold at to the British rather than accept lower prices ed by the Continental Congress and legislatures of the ii u irit V r slowing exploded in double-digit In- But alchemists of there are those who still forever trying new and President Carter has chosen to experiment with a system of wage and price 7 percent as the teke an exception and a complex formula for price f price controls in reducing voluntary guidelines certainly will not work w is why ln his recent television urged American workers to enlist as by ac- the pay percent with a year-end Ux The plan called wace in- ap- Teals io is not ot new new amona among ls as Tax-based Incomes or Such policies attempt to use the tax code to Induce business or workers to hold down prices or wage There are two the we car- car- 2 End L While the Administration has not yet decided on many of the the plan Hi with the pay The re- fund would equal the excess of the Con- Price Index over the pay ston- based on a formula of 1 percent of the first of income for each point over 7 A worker earning who accepted a 7 percent increase would receive a refund if Inflation rose to 9 percent distinct possibility There a toP limit of on Only employees in groups adhering to the standard would be In my Wea If inflation accelerates accelerates further In in due say to an Incite In oil rebates could cost the Treasury as much as in- creasing rather than reducing the budget Working like cost-of- living the rebates could end controls-with all their evils-by encouraging wage set- at or near the thus putting a Hoor under ef M. Evolving thousands of millions of workers employers and incredible auditing pro- would be creating new pressures to expand the bureaucracy to handle P g It will probably exclude the self- employed and those earning less than an shortchanges workers whose union And It shortchange those higher who would be to more than the maximum Plus it pays back cheaper 1980 It's not a solution to It's a Our answer is to forget controls and guidelines and to work to reduce government spending and the federal offsetting some of the deflationary impact with a major tax cut ln keep the economy 0 tax spenders lose that |