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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
Denton Journal
Location
Denton, Maryland, United States of America
Date
Jan 09, 1953
Page
8
The excess profits tax is argued to be a tax on growth and progress, not on excess profits. It penalizes expansion, hiring, and increased production, potentially taking up to eighty percent of earnings. Congress may propose elimination or substantial rate cuts to boost national prosperity.
The Oregon voter notes public service firms such as power and light, railroad, and telephone firms pay about 14 percent of ad valorem taxes. It argues socialist power would remove these taxes, shifting the burden to other taxpayers. It claims surveys show privately owned utilities pay about 23 percent of revenues in taxes, while socialized operations pay little or token sums, increasing tax burdens on others.
Syndicated economist J A Livingston cites General Electric President Ralph Cordiner predicting a 1953 recovery with sales intensification in the second quarter. Inflation remains muted, real income steady, and savings high. The National Retail Dry Goods Association also foresees new highs into 1954 before defense spending wanes.
A broad plea urges Americans to reject endless federal aid and shift away from government as a perpetual provider. It argues to return to self reliance, limit state power, and reassert individual rights, citing Bastiat’s The Law and the dangers of law as sole solution.
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