Henderson daily dispatch., 1937-09-07
GOOD-BY, NINE BILLIONS.
(Christian Science Monitor)

Citizens of the United States thro-
ugh their elected national officials
have lately said good-by to more than
$9,OOO,OOO,O0O. This is the record Of
appropriations for the session of Con
gress Just closed Most of the money
remains to be paid out during tho
present fiscal year, but there is nc
doubt of its departure, and actually
the taxpayer is saying only Eau re-
vior" to some of it, for part Of the
total is borrowed money and eventual
ly he must find it again to pay the
debt.
Counting 100000 families in the
United States, this amounts to pledg-
ing the earnings of each one of these
families to ne extent of an average
of $500 d7l-ing the coming year OF
some comiEg year to pay the expenses
of the Federal Government, not to
mention local and state government.
but 1 don't pay it, says someone.
In fact, so think great many some
ones. But don't they pay? The per-
sonal income tax, the only one levied
according to ability to pay" brings
into the Treasury ebout $1,O00,000,0 900
a year, and the estate and gift taxes
which also fall on the rich, net about
half that much more. The rest of the
$4,000, 100000 comes in corporation in
come taxes, which are passed along in
prices. in excise taxes which the null
titude pay on tobacco, liquor, gasoline
toilet articles, and so forth, in Gus
toms duties which raise the cost OF
domestic goods as we'll as imports
and in borrowing which increases the
public debt.
Unofficial estimates now are to the
effect that when the present fiscal
period ends next July the deficit for
the year will be around 5000, 1000
in other words, that taxes will have
fallen that far short of covering the
bill run up by Congress and the Ad-
ministration, and that this much will
have been added to the national debt,
now above $37,OOO,0OO,00O for the first
time.
And what does that $37 000, 600, 200
mean? It means that on an average
each one of those 100000 families
is under a $1,000 mortgage for past
for. It means that if Mr.. Citizen
thinks he is ahead because he has a
$120 lsavings account, he is really
only oven with the icoard if his Gov
ernHent's debts were liquidated.
IE means, moreover, that if each
ware learner in a community the size
of N{w York City with all it's five
borkalkhs were to lay aside $500 a
yeaE lin addition to his pro rata $500
curEeAt costs) for the purpose of re-
tirihgE that debt, without interest, it
would take fifty ycars to pay off the
$37, hDq, 100000 prinAiBal.
I9shch a deb more than the United
StaHa can carry? Probably not. But
it iSrhore than it can carry comfort
ablE And it is more than it is good
busiHd6s for a nation to pay interest
upoM The only wayOtH rf{sgqe it is
to rs<ess the Balance of the national
budssd to ecopomizc to the extent
that With ris1A aTqHnessO t9eGsthY re-
turn will more than cover. Z esxpendi-
TaS couT cpd Ri4p, Msgs
shouIb mot be necessary and would be
no CItQpllmeNL 10 Ln0 ACKNOWLEDGEMENTS
Pres DIT RoossYelt29OS sf aeffFa f
rty$@ven-page itill to plug tax loop
holes there should be at least equal
attert IN to plugging leaks in the use
of tt&e funds after they are collect
ed. III Roosevelt, after repeated
pron Is of a balanced budget, has
madd father stern estfsaf9 .dsj
man& lon the regular departments,
but approved !RaR7eiEl Wtlukl
for Hb%sing and a cotton subsidy.
Cong $ has talked economy, but has
barrel appropriations ybe-
yond AHe executive budget. Ec@6dy
in til Inext session will require as
critic hn eye on Congress as on the
=: !; ::::::::::::::::::I:::
are al 8alhetic about buying more.
They he not frightened about the
CoXor rIont credit hl1t thew Sin1xHNH