Milford chronicle., 1950-01-27

rich busineSS-let them carry the load for
the rest of us" But the fact is that we could
tax the rich into financial extinction and the
proceeds wouldn't even come close to paying
the bill. 1t is the tens of millions with mod
crate means-not the few with large means
who are hurt by extravagant government.
But that is not the end of the story
Something infinitely ominOus is quietly hap
pening in this country. Taxes are killing our
economic growth.
Sales of common stock in industry largely
determine whether we shall have good times
or bad, an expanding economy or a static
economy, more employment or less in the fu-
ture. Yet last year trading in stocks account
ed for only four per cent of the national in
come where, in the 55 years prior to 1880,
1t averaged more than 40 per cent. This
means that if most of our corporations were
not already in existence, it would be impOs-
slble today to create them. The money that
once went into the enterprises upon which
our living standards and our world leader
ship are built is being taxed out of existence.
This is but one illustration out of MANY
that could be cited. Every individual whose
income is above the subsistence level knows
how OnerOuS taxes are. Practically everyone
talks at one time or another about the cost
OF government and how something must be
done. But talk is generally the beginning and
the end of it.
This brings us to a fundamental fact.
Wasteful, excessively costly government is
simply a symptom of condition of over
whelming significance. That condition cannot
be described in cold figures. 1t exists in the
minds and hearts of the people.
In the last twenty years, there has been
an lnsidious change in our concept of govern
ment. We have turned to it to perform tasks
which always before were the duty of the
individual and the local community. More
and more of us look to government to protect
us in every way. We are losing our indepen-
dence. We ask government to protect our
health, build our homes, care for us if we
are unemployed, and see us through all the
way from the cradle to the grave. We ask
it to provide more and more goods and serv-
ices. The polite term for this gimme" habit
is the welfare state" softer name for So
claliSm. The welfare state always leads to
one Of two conclusions. 1t impOvershes and
enSlaves the people and subjects them to
ruthless dictatorship, as in Eastern Europe.
Or, finally, the people rid themselves of it's
worst manifestations as the voters of New
Zealand and Australia recently did. But.
even IN the latter case, the wealth of nations
has been dissipated, and the tentacles of gov
eminent have been woven so tight that it
may take generations to recover
Therefore, taxation directly affects all
our liberties. Excessively expensive govern
ment is always super-g government. It is pa
ternaiistic government. 1t is, in it's more ad-
Vanced stages, government by fiat and de-
cree. 1t is, in its final stages, government by
terror. The Russian revolution was fought
In the name of the common man. And now.
IN that huge peoples state," tens of mil
lions of common men and women live miser-
ably in medieval darkness, and real liberty
is unknown
The basic troubles of the world, from war
to human want, can in one way or another be
charged to too much government. All-power-
tul government is simply reflection of the
loss of Individual self-reliance, initiative.
pride, independence of spirit, the will to work
the qualities which made possible the
founding and the growth of this republic.
We, as people, are fortunate that we have
not yet gone so far on the welfare state"
road that we cannot turn back. We can still
save ourselves from the final disaster that
has overcome so much of the world. But we.
as people, must do it ourselves. Big govern
ment will not do it for us. We must ask our
selves this question: care we willing, in re-
turn for mirage of material security. for
which we pay through exhOrbitant taxation.
to sacrifice those liberties for which men
have fought and struggled for two thousand
years%
5000