| Show sen bennetts criticism of taxation and the budget by senator wallace F bennett dot the h e staggering billion dollar I 1 lar budget has properly produced much critical comment highlighting one sad but true fact the presidents bu budget dyet is really not a budget in mak making out a budget or a household budget the goal is to keep your expenditures within your income the president in his initial request would spend more than he will take in and he can be expected to ask for substantially more than the billion before congress ad bums this year the presidents budget is only a request for appropriations from congress it is only planning anning sl for expenditures the british adopts the household lo meaning of the term and prepares a budget correlating revenue and expenditures in a real sense expenditures or appropriations cannot properly be ae separated from taxation any more than household spending fan can be separated from family income deficit spending is inflationary it destroys the value of bonds savings and nest eggs for old age in 1930 our public debt was only billion since that time it has steadily risen under the free spending unbalanced budget programs of president roosevelt and truman the national debt is now about billion or about 1700 for each man woman and child in the united states to pay for the presidents pro program ram we must raise hard earned money from the people in the real sense every tax is paid by the ultimate consumer and whether imposed on the corporation or the individual to pay for the billion budget of the president we must collect in taxes an amount greater than all of the incomes of all the people west of the mississippi this inflation and tax trend in recent years is made clear by the examples cited by the council of state chambers of commerce which reports that in 1940 a family of four with net income of had left for the household budget after paying federal income tax but in 1952 the same family with the same income would have only after paying taxes and that remaining amount would be with the 1940 dollar the council also points out that a family worth only 53 cent compared of four with a net income of in 1940 was as well off as that family would be today with income when these facts are considered perhaps the congress which the pres president ident termed terrible and which was the only congress since 1933 to balance the budget and reduce taxes was not so bad berha perhaps athe the proposals of the joint committee on reduction of non essen bial federal expenditures pointed the prop erway when its chairman senator byrd recently proposed a plan to rd reduce expenditures about 9 billion of course the president with his more than man budget bureau and hundreds of fiscal and budget officers in the departments and agencies could have done a more enlightened and efficient job of cutting expenditures in the appropriate prop r ate spots if he had a desire to respond to the fundamental wishes of the american people who have expressed their desires to have a realistic fiscal policy As senator byrd recently said when presidents congress must go forward with of the united state demand but in the present situation the federal economy they get it its limited permanent staffs of about 20 in the house appropriations riat ions committee and about 16 in the senate appropriations committee to analyze the presidents requests which will be backed up by a flood of testimony by his budget 0 officers and fiscal advisors justifying his so called budget whether the congress will be able to cope with the attack of the executive is yet to be decided |
