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Show BEAVER COUNTY PAYS $196,000 AS SHARE OF INTEREST ON PUBLIC DEBT j I Beaver County taxpayers will" I hand over approximately $196,-j $196,-j 000 to the federal government I this year just to pay their share j of the interest on the national debt, according to statistics released re-leased by R. L. Irvine, vice I president of Utah Lumber Co., 1 Salt Lake City. 'This sum is only the interest on the national debt, not the debt itself," he stated, "but if President Truman's new spending spend-ing program is carried out, we can expect an additional heavy burden of debt and taxes to be loaded on every taxpayer here." According to a recent analysis by the National Association of Manufacturers, he explained, the average local family now pays about $1400 a year in direct and indirect federal taxes. Proposed Pro-posed additional or new federal spending would add about 20 to that amount. Mr. Irvine points out that, though many people think the national debt is some mythical mystery that doesn't affect them, the per capita interest on this government-borrowed money mon-ey or what every man, woman and child would pay if the total were divided equally among -! the population amounts to . about $40 a year. "In other words," he explained, "Beaver J County's share of the interest ' alone on the national debt is $196,000 annually. About 65 of our workers earning $3,000 a year would have to work a year and then give up their entire en-tire salaries juit to pay this interest." in-terest." "There's nothing mythical about this very rea1 national debt of nearly $260 bi'Iion that we Americans, our children and I our grandchildren must pay ! eventually," Mr. Irvine said, "yet no real attempt is being made by our federal government to recognize this fact. Instead of cutting down wasteful and unnecessary spending, they're i making pns right now to plunge us all into even greater indebtedness. We as citizens couldn't live this far beyond our incomes without inviting disaster, disas-ter, and neither can our govern-, ment. Unless all of us demand right now that our government j take immediate steps to get back on a firm financial basis, I we're headed for national bank-: ruptcy." ' |
