The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1936-10-22
F. R. DEFENDING.
FAIR DIVISION
As TAX POLICY.
Pledges Early Balancing Of
Budget; No New Levies
Are Needed

AUDITORIUM, WORCESTER,
Mass. Oct. 22.-(UP)-President
Roosevelt last night climaXed one
of the busiest days of his cam
paign with 4 major speech in
which he pledged early balancing
of the budget and said no new
taxes were contemplated because
recovery is here
Forty-five hundred persons JAM
med the auditorium to hear the
chief executive defend his policy
of fair division" of taxes and
thousands milled about in the
streets outside during the address.
The speech ended Il hectic day
of campaigning in which he drove
more than 100 miles and spoke in
Providence. X. l.. Fall River, New
Bedford. Taunton, Brockton, BoS-
ton. Waltham, and Marlborough.
Crowds of more than 100000
chcered him along the route.
In his speech last night the
president struck at the Republican
leadership and cited steady inn
provement i'm the national eco
nomic situation.
Mr.. Roosevelt said the last
Democratic administration had
erected tax schedule to pay off
the war debt within 10 or 10
years. He remarked that the pro-
gram was wrecked by the Repub-
licanS Ito pay political debts
"To pay those political debts
he said, "they reduced the taxes
of their friends in the higher
brackets and left the national
debt to be paid by later genera
tions. Because they evaded their
obligation, because they regarded
the political debt as more import
ant than the national debt, the
depression IN 1929 started with q
$lG,0OO,000,O0O handicap on us
and our children.
"Now. let's keep this little dra-
ma straight. The actors are the
same. But the act is different. To-
day their role calls for stage tears
about the next generation. But
in the days after the World war
they played a different part
"The moral Of the play is clear.
They got out from under them
they would get out from under
now--if their friends could get
back into power and they could
gct back TO the drivers seat. But
neither you nor think that they
are going to get back.
But, as in the World war, we
have again created a tax Struc-
ture to yield revenues adequate
TO pay the cost of this war against
depression i'm this generation and
not in the next.
New or increased taxes are
not needed to enable us to bal
ance the federal budget and to
begin very soon a rapid reduction
i'm the national debt. Recovery is
with US. Federal revenues are in
creasing; emergency expenditures
are decreasing. A balanced bud
get is on the way. Does that sound
like bankruptcy to you"
Mr.. Roosevelt then observed
that while the taxpayer pays more |
money in taxes he earns more |
and spends more and has more
left for himself and his family.
He explained that for the average
American the administration has |
reduced the individual income tax,
asserting that any family head
who earns less than $4,000 year
iy pays a smaller income tax for
1886 than he paid in 1882.
Taxes" he said, "are higher
for those who can afford to pay |
high taxes. They are lower for
those who can afford to pay less. |
That is getting back again to the |
American MISREPRESENTATION ac-
cording to ability TO pay
The president then chided the
critics of his tax policy, assert
ing that you would think to hear
some people talk, that those good
people who live at the top of our
economic pyramid are being taxed
into rags and tattcrS.'
"The fact is" he replied to his
own question, that they are
much further away from the poor
house than they were in 1882.
You and | know that as matter
of personal observation" |