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Show NationaH)efetJ Nicks Utahns Foundation Notes Utahns have paid $274 million Federal taxes In order to meet the Interest charges on the national na-tional debt during the 15 years. This was a finding presented in a study released this week by Utah Foundation, the private, nonprofit, governmental research organization. According to the Foundation report, Utah's share of the Federal Fed-eral taxes needed to pay the interest in-terest on the National debt during dur-ing the past 15 years was nearly two and one-half times the amount spent on highway Improvements Im-provements and three times the amount spent for public school construction in Utah during the same period. Official Treasury Department figures list the gross Federal debt on Jan. 1. 1957. at $275,628.-000,000. $275,628.-000,000. The Utah Foundation study points out that the debt on Jan. 1. 1946 was $278,115,000,-000, $278,115,000,-000, or about $1H billion more than the debt at the beginning of 1957. Thus, during the 11 most prosperous years in the nation's history the Federal government has been able to make only a slight net reduction In this obligation. ob-ligation. Based on the proportion of Federal taxes currently being borne by Utahns, the Foundation calculated that Utah's share of the outstanding Federal debt on Jan. 1. 1957. was $1,082,750,000. The total assessed valuation of the entire state of Utah In 1356 was $1,164,880,000. Foudatlon analysts state that if Utah's calculated share of the Federal debt were evenly distributed dis-tributed among the people of the state, every man, woman and child in Utah would owe $1,333. For an average family of four persons In Utah, therefore, the Federal debt obligation Is equlv. alent to $5,330. Last year the average Utah family of four paid $130 in Federal Fed-eral taxes (direct and Indirect) to meet the Interest requirements of this national obligation. The Foundation emphasises that this amount merely paid the annual Interest charges and did nothing i toward retiring any of the principal. |
