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Newspaper
Denton Journal
Location
Denton, Maryland, United States of America
Date
Aug 26, 1949
Page
4
A Washington report notes rising bipartisan support to repeal retail excise taxes on luxuries and nonessentials imposed during wartime. Critics say the 20 percent levies hurt sales and compare to taxes on rail, bus, and air travel. They urge repeal as emergency measures end.
An analysis of 428 large American companies with 13 000 600 stockholders shows that two thirds of dividends go to earners under 100 dollars a week. After taxes the rich keep only about four percent of all dividends while most take is wages, supplier costs, and government taxes. Many stockholders are modest earners who invested for old age security.
An official argues that production alone does not create prosperity. Only customer demand and a robust retail machine, comprising stores and chains, turn goods into living standards. Retailing fuels employment taxes advertising and community growth, making mass production and distribution inseparable forces sustaining living standards.
Senator Robertson of Virginia cites seven harms from labor monopolies in soft coal, including higher consumer prices, mine costs, coal loss, reduced demand for alternative fuels, and lower miner earnings. He argues unions wield overbearing power mirrors past financial and industrial monopolies and must be broken.
Winston Churchill assailed Britain's Labour government for squandered reserves and hard times, noting US and Canadian aid reaching 7 billion dollars. He warned that socialist policies drained overseas assets and raised taxes beyond wartime peaks, speaking as opposition leader at a political meeting.
The writer argues forceful control by the state erodes British energy and incentive, warns of a slide toward communism, and predicts a police state with camps if government takes over coal mines, electric industry, and banking. He cautions that free enterprise sustains freedoms and condemns relinquishing it.
The piece notes Herbert Hoover turning 75 and rising esteem across parties. It cites his critique of government spending and welfare state risks, praises the Hoover Commission as a blueprint for efficiency, and reports Truman's push to adopt 20 to 25 percent of its plans with potential $4 billion savings and broader government efficiency.
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