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Show Page Four March 30. 1956 THE UTAH STATESMAN Ammunition For Victory Well Informed, Well Equipped One of the most widely used techniques coming forth from the National Committee this year is the Ammunition for the of National Precinct Worker. It is the belief, and Chairman Leonard Hall, that the voter is the one who will swing the election. well-founde- d, well-inform- ed Another goal of the National Committee is to give the precinct worker the facts so that he will be equipped with answers to any and all opposition he meets. Be familiar with these facts when facing the Democratic charge that the GOP is the part of big business which favors the rich to the detriment of the little fellow. Here is the truth about taxes, small business and die cost of living. , Truth About Taxes 1 parroting the Truman fabrication that, of the $7 billion tax cut . . . put across in 1953 by the Republicans, "corporations and people with in- in the highest brackets the cuts scaled downward to only one per cent at the top. 4) The group received more than its fair share comes of less than $5,000 a year of the income tax cuts, because per cent of the cut and all the the people who paid 33 per cent millions of taxpayers with in- of the total income taxes collected comes of less than $5,000 a year under the Democrats got 37 per got only nine per cent of the cut, cent of the tax reductions made should be corrected as follows: possible by the Republicans in billion an- 1954. 1) Of the total $7 nual tax cut made possible by (The above figures are official Republicans in 1954, 62 per cent Treasury Department computaof the cuts went to individuals, tions.) only 38 per cent to corporations. 5) The real "High Tax Party" 2) Not nine per cent, but 23 is the Democrat Party, because per cent went to people in the 14 of the 15 income tax increases 0 category. (but only three of the 10 Most 3) since 1913 were enacted people got a 1 per cent income tax cut; but for those by Democrats. under-$5,00- 0 under-$5,00- reduc-duction- s) 10-1- Small Business Facts Facts About, Democrats Living Costs During the past three years, Unable to shake the Republican record of the greatest prosperity ever, the Democrats charge that small business is in a bad way and is being allowed to wither by an Administration which is a captive of big business. On the contrary: The record shows that small business is a partner in our prosperity and that the Eisenhower Administration has taken action to stimulate small business expansion and growth: the Republican Administration has achieved a remarkable stabilization of the dollar. It has halted inflation. Democrats, however, consistently distort the facts in this matter. For example, Rep. John McCormack, (D., Mass.) House Majority Leader, has said repeatedly: Republicans talked, a lot in recent years about the Democratic dollar. We now have 1) In the past three years the Republican dollar.' 5 the Justice DepartHere are the facts: In January 1953, Democrats ment started 118 and completed violaleft this country with a dollar 152 suits against anti-trunot 53 cents. tors. worth 52 cents dollar We still have a 2) The Small Business Admintoday. the first independent istration, Official government tables show that the value of the 1939, peacetime agency created excluunder sively to help small business, was dollar plunged to 52.2 cents by set up in 1953. By the end of 1955 the Democrats but after three SBA had approved 2,270 small January 1953 Republican years, its value is still business loans for a total of $114 million. It also provided disaster 51.8 cents. and management advice. loans This is a change of less than half a cent on the dollar, com3) A larger share of defense loss in the contracts pared to a small has been last 14 Democrat years, and a business than under given Truman the drop during Truman's Administration. Small business last three years. received 25.1 per cent of military The Republican achievement contracts in fiscal 1954 which protects the savings as prime and 21.8 per cent in fiscal 1955, well as the every day spending as compared with 20.9 per cent in power of every American is es- 1951. 17.1 per cent in 1952, and pecially notable because it was 16.2 per cent in 1953. achieved while converting the na Government 4) tion from a wartime to a peace- with small business hascompetition been stoptime economy and while shedding areas in many bakeries, the burdens of wage, price and ped ice cream making, paint manufacrent controls. turing, and so forth. 5) Tax relief has been given small business in several ways. G.O.P. Is Better Vehicle Trend Began Before 1953 The rising tide of struggle It is true that there has been among the Democrats demonstrates how hopelessly the Demo- a trend toward big business in this cratic Party is divided on the country, but the trend did not issue of civil rights, and that the start in 1953. The greatest acRepublican Party is the better ve- celeration toward bigness took hicle for minorities who desire place during the 20 years of the Deal when big the establishment of these rights. New Deal-Fai- r rose to the Lincoln. and labor business Gould big Washington Evening Star. front. '53-ce- nt 49-ce- nt 1953-195- st 52-ce- nt Title & Surety JhtJurahce 100-ce- LARRY T. HAYS 320 E. 4th South 47.8-ce- DA 8-81- 17 Welcome To The Convention BOUNTIFUL CABINET SHOP In Specialists nt Kitchen Cabinets nt 6.8-ce- nt "... 190 SOUTH 2nd WEST PHONE AX 5-21- 41 Bountiful Utah As to business failures which the Democrats say are larger than in 1952: Fewer business ' failures ocurred in 1955 than in any other normal business year in this century only about 11,000 in 1955 as compared to about 15,000 in 1939. A normal economic year is considered one in which there is neither a war nor conversion. Nineteen fifty-twwas a war yean o Since there are about one third more businesses now than in 1939, the best yardstick is to com- pare business failures per 10,000 businesses in existence. In 1955 there were only 42 busines failures per 10,000 businesses. This compares with an average failure rate of 72 per 10,000 businesses over the past 56 years. A Definition Needed Before discussing small business profits one must define small business. Some compare the real little fellows with assets under $250,000 with the big fellows with assets over $100 million. This leaves out the great bulk of business those with assets between $250,000 and $100 million. The SBA uses $1 million assets as a sound dividing line between the large and small. Between 1947 and 1953 earnings before taxes of small business, firms with assets under $1 million, dropped by 26.7 per cent and earnings after taxes dropped by 40.1 per cent. In the case of large busines, however, earnings before taxes increased by 57.9 per cent and earnings after taxes increased by 17 per cent. This shows that under the policies of the Democrats small business profits took a real beating while those of the large business eses were protected and increased. ALADDIN & COMPANY L. C. Barrett, President First National Bank Bldg. G. F. Barrett, Sec - Treasurer Phone EL 9-37- 17 |