OCR Text |
Show "SMALL JAaeJ BUSINESS igAig Neqative Subtraction A new dimension has been added to arithmetic, which for the want of a better name, might well be termed "negative "nega-tive sut traction." For some time Congress has had before it a number of bills by Senator James Pearson of Kansas, Congressman Joe Evins of Tennessee and Keith Sebel-ius Sebel-ius of Kansas, which would give special tax incentives to new job supplying enterprises that locate in the rural areas. Currently, today 70 per cent of the people live on 2 per cent of the U.S. land area, creating all sorts pf problems of crime, pollution, high taxes, welfare, and numerous others, The biggest cause Is the fact without jobs, people in the rural ru-ral areas crowd Into the cities. An amendment was introduced intro-duced to the tax bill that came over from the House by Senator Sena-tor Pearson to give such new enterprises 10 per cent investment invest-ment credit, or 3 per cent more than usual credit. The Senate passed this amendment by a vote of 60 to 29. But fn the House-Senate conference con-ference to iron out the differences differ-ences between the two versions of the tax bill, this amendment was thrown out due to strong pressures from administration representatives. What was the argument? It is a hard one to follow. National Federation of Independent Buslnc: It was claimed that this would cost the Treasury $750 millon per year, and would thus be inflationary. Most perplexing is trying to figure out how such a rationale could be doped out. Here a situation sit-uation exists where on hundreds hun-dreds of thousands of square miles, economically speaking, there is nothing. So the question remains as just how can the Treasury lose everything from what is now nothing. Of course, if industry were developed in this nothingness nothing-ness in time there could be gome new tax revenue. But right now there is nothing. noth-ing. And just how does one go about subtracting from nothing. noth-ing. It would appear that these boys along the Potomac are outdoing the Almighty. Accord-to Accord-to the Bible, there was nothing, noth-ing, and in this nothingness He created the world. But somehow the great Washington thinkers can take nothing and yet somehow can create out of that nothingness a huge tax loss if any steps are taken to encourage development develop-ment of something out of nothing. noth-ing. It Is perhaps unfortunate the Almighty, did not have available this type of advice during His days of creation, because be-cause if He had listened to such advice there would be no world problems. There just would not be any world, just nothing. SB |