| Show YES YOURE YOU'RE PA PAYING YING INTEREST Sanpete F Folks Pay Over Half Million Annually As A AOn s Interest On National Debt Sanpete County taxpayers will hand over approximately to the federal government this year just to pay their share of or the interest on the national debt according to statistics re released released released re- re leased today by R. R L. L Irvine Irvinc I Ivice vice president Utah Lumber Company Salt Lake Lake City That's just over 40 for every man woman and child in the county This sum is only the interest on the national debt not the J 1 11 T l I 1111 11 A a. a Y r but if President Truman's new spending program is carried out i we can expect an additional heavy heavy heavy hea- hea I vy burden of debt and taxes toAbe to tobe Abe be loaded on every taxpayer I h here here- re According to a recent analysis by the National Association Association Asso- Asso Association ex- ex explained of Manufacturers he ex explained explained ex- ex the average local family now pays about 1400 a year indirect indirect in indirect direct and indirect federal tax tax- es Proposed additional or new federal spending would add about about about a- a bout 20 per cent to that amount Mr 1 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 government money 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 Sanpete County's Coun County's tys ty's share of the interest alone on the national debt is annually About of our workers earning farning a year would have ha to work a year and then give up their entire salaries salaries salaries salar salar- ies just to pay this interest Theres nothing mythical about about a- a I bout u this v very real national a debt I a-I f nt 1 1 t nr 1 io ald VL u cu Y Vi V wc V I Americans our children and our grandchildren must pay eventually eventually eventually even even- Mr Irvine said yet no real attempt is being made by our federal government to recognize recognize recognize rec rec- this fact Instead of cutting gutting down wasteful and unnecessary unnecessary unnecessary un un- necessary spending they're making plans right now to plunge us all into even greater I indebtedness We Ve as citizens couldn't live this far beyond our incomes without inviting disaster disaster ter tel and neither can our government govern govern- mentHe ment He explained that the National Association of Manufacturers an organization of over American business firms has re reI released released re- re I leased these figures based on official U. U US U.S. S. S S government statistics statistics statistics sta sta- in an n effort to acquaint the American public with what is happening to its money Unless all of us demand right now that our government take lake immediate steps to get back on a firm financial basis hasis were we're headed for national bankruptcy bankruptcy bankruptcy bank bank- he declared |
