The Nome nugget., 1950-04-10
CAN AMERICA GO SOCIALIST?
 (By George s. Benson, President

(By George s. Benson, President Harding Colege)
 The United States of Socialist Amerca Do you think you'll ever that printed dollar bill? Prob ably not Regardless of the name America can become become SOciaStc anyhow, losing the economic system that has for long kept this nation prosperous and ductve Yes The schemers and potters have shown for long time that sudden change of the American pat tern would not be possible Knowing this, they have been counting change here and change there, to finally replace the American way Everything legal Of course.
 There are those who do what they to speed up this process Others do not realize what is happening One point of strong attack is always directed toward Amer ican business with the ultimate goal complete control of all industry and business by the government Policies and programs that today point in that direction tainy complete denial of the economic pattern that has made this nation the best place earth Tn which to live.
 Attacks that are leveled against industry, then many times really attacks against the very base of American prosperity and freedom Without freedom to invest to explore ways, to strike out upon an en- terprise this nation could not have developed into the America know It is this freedom of enterprise hen that has for all these years stood at the base of what call the American Way of Life Losing this freedom never keep all the other freedoms that cherish
 I have said that we are whiting down this precious freedom of enterprise One of the most obvious ways doing through income taxes that tend and more to deaden the spirit of enterprise. Men who engaged in all kinds of businesses of all sizes tell there is growing reluctance of capital to invest in ventures. Why? Mostly, they say that high taxes business make any substantial return from investment very unlikely
 The best person hope for when he invests money in a business, they say, is only small turn if successful. If unsuccessful there is return and all capital could be lost Consequently capital is not flowing into investments that make jobs plentiful and goods abundant So, you see, there is much to this matter than meets the eye. If there ncen- tive to invest the danger is closed factories and jobs
 There is today almost no incentive to invest in business ventures when individual the chief poraton stockholders in the 50 per bracket above. If venture should succeed we'll hardly than per cent profit investment could be pected Out of that amount must funds for eXpan- sion and reserves, that would leave about per "profit or dividends the investment But if man is to be taxed 50 per cent after he gets his per cent you that his profit is reduced to 9 per cent Some peo pie taxed more than 80 per cent.
 Under these conditions people unwilling to invest their hard earned money in business ventures Business is caught in tax squeeze that makes it impossible to at tract investors by paying better dividends shares Companies are compelled to plowback more and into the business but enough to meet real needs that exist today for expansion growth and jobs What is the result?
 More people are lending to the government (buying bonds) for they think their money is safer that way and they know it will much Then, busi ness is and more going to government for long loans the Recal1Se Of