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Show The Best Friend Of Hard Times The best friend of "hard times" is a high tax rate. Reasonable taxes encourage the investment of capital, the development develop-ment and expansion of industry, the employment of labor. They encourage en-courage home building, savings and business activity of all kinds. Excessive taxes, on the other hand, have precisely the opposite effect. They drive money into hoarding or into tax-free government govern-ment bonds, thus depriving industry indus-try of revenue It sorely needs. They make for unemployment and for Widespread economic distress. They discourage the home builder. They cause property to be taken over by the county or state for unpaid taxes, where it at once becomes unproductive. Make no mistake about it, high taxation, whether by the federal government, or states, counties or municipalities, has had much to do with creating and prolonging hard times. Every business man In the United States knows that. So does every investor. So should every worker. The best influence In favor of good times would be a decisive cut in the cost of government govern-ment and the elimination of bureaucratic bu-reaucratic waste, red tape and inefficiency. in-efficiency. And the best place to begin is right in your own home town, county or state. The tax bill is fast becoming the barometer of economic conditions. |