Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-05-01

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Hall.
Full employment. Senator
Kennedy said.
Mr.. Butler said it would be
whether business as a whole is
to be held responsible for the
mistakes of one segment of it
big business.
| -Four others on the stage were
there to fire questions at the two
chairmen and the two Senators
but they had little opportunity
Erwin Canham. editor of the
Christian Science Monitor, final
lily asked facetiously. Can we at
this table go home?" But he got
a question in.
The others of that group were
Robert C. Bassett, publisher of
the Milwaukee Sentinel; Arthur
H Motley. publisher of Parade
Magazine, and Herman w. Stein
|kraus, president of the Bridge
port Comm Brass Co.
Both Finally Agree
The final wind UP was state
Iments, in reply to a question by
Mr. Spivak, that members OF
both parties are good. patriotic
Americans There was no dis
agreement, and Mr.. Spivak said
lit could be concluded therefore
that the country was not going
to the devil
Earlier, Representative Mills,
Democrat of Arkansas, told the
Chamber that no significant re-
duction in Federal taxes is war
ranted..
He said that, If the 1855 rise
in personal and corporate in
comes continues this year, de-
voting any substantial part OF
the expected 50 billion budget
surplus to tax reductions might
result in strong inf1ationary
] pressures. These, he cautioned
might we'll cancel out, through
price increases and general eco
> nomic instability, the benefits
from lower tax liabilities
!. Mr.. Mills, an influential men,
! Der of the House Ways and
Means Committee, addressed q
luncheon meeting on taxes.
> Hinged to Economic Outlook
r Mr.. Mills said a tax reduction
would be permissible only If we
/ are willing to impose heavier
S responsibility on the Fedora
Reserve System to contain infla-
tionary pressures. Should the
economic outlook dim, however
Mr.. Mills said we should be ready
with a tax reduction program.
? One of the chief criticisms OF
5 high tax rates by businessmen
{ has been on the score that the
. high rates cut down the amount
, of capital advanced by investors
{ willing to take risks. thus slow
, ing down development. Mr.
| Mills said on this point:
, THE actual growth record of
the economy over the past
decade, coinciding with the high
e est peacetime tax rates we have
t ever known. I believe, shows that
4 this danger has been exagger-
. ated. Present taxes are certainly
to high for the long run. At the
: present time, however, am
D more concerned about the short
' run inflationary dangers in pre-
mature or ill-timed tax reduc-
! ton"
J. G. Cream, president Of the
: Canadian Chamber Of Commerce
: giving that organizations greet
Iings at today's session, said the
[ trade gap is widening between
Canada's purchases from the
United States and her sales to
, US. He called this IAN ominous
, cloud on the horizon"
But he said he hopes that the
: cloud could be dispersed by in
: lcreased sales of Canadian goods
to the United States. The alter
, native, he said, would be for
/ Canada to curtail purchases. He
said such a course would be
uneven because it would affect
certain segments of your econ
omy much more than others and
lbe distaSteful to us BOTH"