OCR Text |
Show Harriott posEioo spending imif plan since early in the 20th Century. Cen-tury. "Taxes increased at an unbelievable rate," explained ex-plained the Utahn. "In 1929 we paid 12? on every dollar we earned. In 1950, it was 29?; in 1960, it was 34?; in 1970, 39?; and today it is 42? on the dollar. "It's time to stop the spiral. spi-ral. I still believe most of what you earn should be yours to keep," he said. He noted that a simplified simpli-fied tax system and an indexing in-dexing plan could be adopted adopt-ed to cut back on theAmeri-can theAmeri-can tax burden. "Whatever "What-ever the plan is, it should include a meaningful tax cut and more incentive to work, with more capital formation, more stimulus to the economy, econo-my, more jobs, and more respect for work and enterprise," enter-prise," he said. "I still believe most of what you earn is yours to keep," declared Congressman Congress-man Dan Marriott (R-Utah) before a gathering of Arkansas Ar-kansas Republicans. The Utahn was the keynote speaker speak-er at the Garland County Republican Lincoln Day Dinner Din-ner in Hot Springs, Arkansas. Ar-kansas. "It's time to limit federal feder-al spending to 19 of GNP, where it has traditionally been during times of a balanced bal-anced budget, he said, "not the current 32 level which has caused the oversized deficits of recent years." He said such a limit would force the government to stimulate GNP to get an increase in revenues, rather than increase taxes. "We need to expand the pie, not increase the size of the slices," he said. "If the economy expanded at 7 a year and government spending spend-ing were kept at that same level of increase, we could balance the budget in three years." Marriott noted that taxes have increased alarmingly |