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Show Thursday, October 15, 1981 - Page B-- 2 binder ikei Utah Senator Writes Reagan Program . Won't Help the I CountryOvernight I By ORRIN HATCH There is a simple, tangible result to --j the summer-lon- g struggle that was fought over President Reagan's ' proposal to cut tax rates by 25 percent over three years. That result, after the tax cut was pushed by the president, ridiculed by Tip O'Neill, - discussed by people everywhere and finally approved by Congress, will be pleasantly noticed this week by every " American who holds a job. .; Our paychecks will be bigger. Bigger paychecks - even if they're increased by only several dollars -- will make or break the theory of supply-sid- e economists who think that ; with extra money, Americans will not '? just spend more - that would be in- - f lationary, they maintain - but would save or invest more, thus providing the capital industry and business needs to expand and revitalize. I've supported supply-sid- e economics since it was introduced as the Kemp-Rot- h bill in 1978, and I , - believe it will work. It worked in .' Japan - industry there has the capital V to modernize because the Japanese I; save their earnings at a rate of 25 I- - percent. Here in America, workers " save only four percent of what they p. earn. r Improving the flow of capital to private industry - the economy's ' "supply side" - is the point of the '' President's economics push, but no l; matter how successful the President ' has been in getting his program J through Congress, people need to i; realize that it's not going to change ; things overnight. ; - "It's not something that is intended ; j to transform the nature of the economy in the next 24 hours," said '' White. House spokesman David . Gergen. "It's laying the foundation i for gradual progress more than anything else." Still, I and most supply-sider- s I know are optimistic. Given time, the President's economic program has all the elements to restore strength to the nation's economy. An informal survey taken among randomly-selecte- d people from across the state confirms my optimism. Asked what he'd do with any in-creases in his take-hom- e pay, Toole's Richard Filippe answered simply. "Save it," he said. Mrs. Kay McKendrick, also of Tooele, agreed. With three young sons to raise, she said she's have no problem spending any extra money, but still more of her family's money would probably find its way into savings. "We set a cer-tain amount of money aside to put into savings, and I believe we would probably save more," she said. Roughly two-thir- of those con-tacted said they'd be apt to save or invest any increase they see in their wages. Obviously, several more dollars a week in savings or in-vestment is not going to immediately bolster the American economy. But it adds up. A family of four earning $30,000 a year will save $57 in 1981, hardly enough to set the hearts of business or industry thumping. But it gets better as it goes. In 1982 they'll save $526, $1,058 in 1983 and $1,389 in 1984. If each American family could save half of the $3,030 they'll get in tax cuts between now arid 1984, in addition to " what they're saving anyway, we're talking real money, which can be loaned out to do a lot of good. Even more popular than plans for increased savings is the principle behind the President's program, the idea that American wage-earne-should keep more of what they earn to save or invest as they see fit. "They work for it," said Mrs. McKendrick. "They should keep it." According to the survey, most of Utah agrees. i The People Behind I r "- - ' w Hv k " ? I K I . oi .4 , r: i c ' mXV J Uj i i h Jaw m ,i JI.n-AK.NEI- BRETT BEZZANT JESSE SPAFFORD "R4ND. f L. MONTCMI Advertising Sales Publisher AdverUsing t LLWR'G11T Production Mf?r. 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