Indianapolis Times, Indianapolis, Marion County, 20 September 1940 — Page 25
FRIDAY, SEPT. 20, 1940
MEMORIAL ‘COLISEUM, LOS ANGELES, Sept. 20 (U. P.).—The text of Wendell L. Willkie’s address at Los. Angeles last night follews:
For the past siz days I have been]
traveling across the great western half of our country. I have gone through the fertile fields of the Middlewest, the great spaces of the Southwest, and have come finally to this - beautiful land. of Southern California.
I have talked top thousands of)
your people here in the West, and I have heard about some of your problems. Many of them, like flood control, for example, are of national importance because they involve the conservation of our natural resources, of human life, and of property. We have short-sighted men in Washington who would have us believe that America has reached the! limit of its growth. But out here in| the West, the evidence is all around us of the utter folly of this counsel of despair. "And that folly has reached its final climax in the effort to persuade the people of America that there is only one man—one indispensable man—who is capable of leading our country in these troubled times. Now. there is no man indispensable to this country. But I can tell you something that is indis- | pensable. The indispensable thing, right now is common sense.
STRONG DEFENSE URGED
We in this nation are agreed upon two great objectives. We are de.termined to make our national defense so strong that no nation— however great its military power and however ruthless its leaders— will dare to attack us. And we are determined to create the opportun-| ity for our unemployed fellow citi-| zens to go back to work.
But the actual production of airplanes, tanks, and guns is not the only part that industry must play in the job of making Arerica’ strong. A healthy, active, expand-| ing economy, producing all the | things our people need, all the
basis of defense.
without. Ours is a dynamic system. It depends upon the constant development and growth of new business,
for men to work and to produce. We cannot stand still behind the guns of our battleships. In order to be strong we must grow.
DENIES ECONOMY MATURE
All this is simple enougli. Alisthis is common sense. Then why is it that for years we have had idle money by the billions and idle men by the millions? , Why is it that during the past 10 years, for the first time in our history, we have failed to make any economic growth? The answer is that the men who have heen determining our national policies in Washington have not believed in production. They have not understood the dynarhic character of our system. They believe that our economy has reached maturity—become static. They believe that there is no more room for expansion; that increased production might even be dangerous. They have treated our country as if it had no future. couraged productive enterprise. I have said that the issue of this campaign is to preserve our democracy. Democracy can persist] only so long as its people are busy. It is rooted in expansion and in] hope I therefore propose to put an end to this industrial stagnation. 1 propose to establish in this |country the only kind of life that
myriad engines of peace, is the very | Unless we are strong within we cannot be strong
new enterprise. new opportunities
They have dis- |
i ~ " { fd
| Highlights of Willkie Speech’
' There is fo man indispensable to this country. But I can tell you| something that is indispensable. The indispens- - able thing tight now is common sense. ‘| #2 #2 8 We are agreed upon objectives. We are determined to make our national defense so strong that no nation will" dare to attack us. And we are determined. to create the opportunity for our unemployed fellow citizens to go back to work.
td 2
Bemoriaes can persist only so-long as its people are busy. Tt is rooted in expansion and hope. 72 =
” Government policles affecting business should be consistent. Business must be given.a chance to make a profit. # 8 =
This tax rachis that the New Deal s erected is unscientific, he and loaded with punitive measures.
Many by you are business men. Think back a minute. What did. you ask yourselves when you were trying to decide to start in business on your own? Well, you asked a lot of questions. Questions about costs, about markets, and about msathods. Buty they all came down to one fundamental question, What you were ‘trying to find out was whether, |after meeting all expenses, there | was going to be anything left over {for a profit. | That is the question that every Iman who wants to start a business ras to ask himself. It doesn’t mat-
ness?
These two purposes go hand in you and I understand—a life of] {ter whether the proposition is a hand. . We cannot be a strong na-igood honest work ana good honest {gasoline filling station or the forma-
tion when millions of our people are. without jobs. We cannot become a strong -nation unless all of our
reward. I propose to rescue America from | an Administration which has!
tion of a great corporation. It all comes down to that one question. {Is there a chance of a profit that
people join in the work of making proved itself incompstent and- not! will justify the| risk?
us strong. That is common’ sense. And common sense also tells us| what the answer is. The answer is | increased production. Modern war is fought with the | products of industry. The task of]
to be trusted with the enormous
powers that it has acquired. How shall I do this? Let's resort to common sense again, The mainspring of economic activicy in this: country is provided!
Now, what has the New Deal been doing? It has been pursuing policies which| increase the dif- | ficulty of swvering that simple | question. It has increased that dif{ficulty in many ways. It has done
| ness is conducted must be clear and must be stable.
2. Government policies affecting business should be consistent. 3. Government competition with business must be kept within welldefined limits. It must not stop the flow of capital into new productive enterprise. ‘4. Business must be chance to make a profit. |Now I think a thorough dpplication of these simple rules would get us turned around and headed in the right direction., But once headed in that direction we should want to move in that direction. And we should then find that the greatest single obstacle to our progress is the present tax system. !This tax structure that the New Deal has erected is unscientific, repressive, and loaded with punitive measures. It is unjust and discriminatory. It is driving capital out of productive employment. It is preventing the creation of the new enterprises that our dynamic system must have, the enterprises that make jobs. The New Deal taxes put a premium on the investment of money in all types of government securities, and drive money out of prcductive enterprise. [Let me give you an example of how our present tax laws discourage the kind of enterprise that makes jobs. A man I know runs a successful business in which he has invested practically all he owns. By hard work, initiative, oli skillful man-
given a
agement, he has byilt up an organizatiton that employs many people. He is just a typical American business man. : The other day, woman of his acquaintance came to ask his advice about her. affairs. She brought with her the records of her investments, or her income, and of her tax payments.
a well-to-do!
.MONEY KEPT IDLE
rearming America is thus primarily by individual Initiative—by men go- | jt py making unpredictable changes
a task of mobilizing and directing ng into business and risking success {ijn laws and regulations.
the enormous productive capacity, | of American industry.
or failure. What makes a man go into busi-
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It has ! done it by setting up punitive taxes. It has done it by increasing red |tape;. by investigations, and by | other nuisances that add to costs. | It has done it by Vesting broad dis|cretionary POWErs in the hands of ‘administrative | officials, many of ‘whom are hostile to the enterprises | they regulate. | i And it has done all this at a time when the changing and uncertain conditions of world affairs | have already madé it difficult for business ‘men to figure out their | prospects and keep up their cour- | age.
FOUR STEPS PROPOSED
Business men are just like all oth‘er human beings. If they are sub{jected to abuse, to the imposition ‘of capricious and constantly changing rules, and to continual dis- | couragement, they become pessimis- | tic, they hesitate to take risks, they {cease to be enterprising. And when [that happens the mainspring of the American enterprise system has run down. In recent years, we have been | moving little by little away from | the true course of our American |system. We have had a Govern- | ment: which neither understands nor sympathizes with free enter|prise. It has| experimented with | policies and adopted attitudes cal|culated to weaken enterprise and to {carry us step by step toward a completely nea economy. | If people want a completely regpos economy, if you want a toalitarian system of some sort, ant vote for me. I'm headed in [just the opposite direction. And {in order to turn this country around ‘and get started in that direction, I propose to take four steps. I want ‘now to be very specific: | 1. The rules) under which busi-
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The business man looked over her accounts and discovered a curious thing. Last year, this woman’s income had been almost exactly the same as his. But the next thing he noticed wast that her income tax had been exactly one-fifth as large as his. Here was a man whose money was productively employed in running a business. It was being used to give work to other men. Here was a woman whose money was invested in tax-exempt bonds. She was not taking any of the risks of business enterprise. She was not directly engaged in any productive effort that made jobs. Both of them had the same income, but the business man was taxed five times as much. He was taxed five times as much for earning his money in|/ active enterprise as the woman who merely invested in riskless tax-ex-empt bonds. ‘Is it any wonder that this business man stopped to ask himself why he should continue to work hard, to take risks, and to struggle with the increasingly complex problems of business under present day conditions? ‘That is just one individual example of how our present haphazard tax system bears down hardest. upon those whose enterprise makes jobs. It is a tax. system which encourages men to hoard capital instead of encouraging them to put it to work. jt Our tax laws are especially hard on new companies which are coming ahead. The big corporations are not hurt. so much, but the small growing companies find an insurmountable barrier in their way, The looming figure of the tax collector stands in their path, barring the way of their natural expansion. We now have a tax burden as heavy as ever in our history. In the past four years the New Deal has collected , 2214 ‘billion dollars of taxes—nearly four billion dollars more than was collected in the war-time administration of Woodrow. Wilson,
f .
BILL MUST BE PAID
The total of appropriations and contract authorizations passed in the present session of Congress amounts to no less than $19,000,000,000. The Federal Government is expected to spend $15,000,000,000 in the current fiscal year. Of this amount, it will raise $7,000,000,000 by taxes, while borrowing the remaining $8.000,000,000 to add to our already staggering national debt. The cost of that terrific bill is going to be paid by all you people, it is going to fall upon the backs of ordinary men, farmers, laborers, and little business men. All of us are going to pay it. We are going to pay it in a thousand indirect taxes levied upon the clothes we wear, the food we eat, the automobiles we ride in, and everything except the air we breathe. And after we are through paying all this, we pay more in the loss of opportunities that results from the burdens that the tax bill places on every type of American business activity.
Now taxes are an extremely com-|
plicated subject. But the principles to be applied are simple. One objet must be to get the maximum amOunt of tax revenue up to the poinj of diminishing returns, and in dccordance with the ability to pay. of course, the best tax system in the world will not balance the budget for us at the present time. Besides the ordinary expenses of the Government, we must bear the staggering cost. of a defense program. Also, until we get the unemployed back to work, we must spend large sums for relief. And it: is our. social duty to maintain and expand a program of old age pensions, and aid to the blind, the needy, and dependent children.
HIGHER TAXES NOT ENOUGH
We cannot hope to pay for all these things by raising taxes. That would crush industry and cause more unemployment. The best we can do is to stimulate production imediately and revise the tax system so that it will not act as a brake. In making that revision, common sense will insist upon answers to three questions. We must know, first, what our present tax structure will yield when business really gets going. We must know, secondly, how high the national income gets, we must know how large the tax revenue will be. If elected, I propose the immediate establishment of a special commission to study the whole tax question. Such a commission must be composed of government officials, members of both houses of Congress,
THE INDIANAPOLIS TIMES
Textof Wendell Willkie’ S Los Angeles Address
»
"PAGE 25°
bor, and tax experts. It should study the needs of the Federal, stdte and local Governments. The effects of taxation upon the individual and upon the nation must be analyzed together with the cost and complexity of administering various
types of taxes.
It was only after a similar exhaustive study of money and banking that the existing Federal Re serve system was evolved. This country has never had a scientifically planned tax policy. It is time we took steps to get it.
FEELS LABOR SUFFERS
I am a businessman by training, and I claim to understand some of these things. I understand some cther things, too. I understand what labor’s stake in this system is. It is my considered opinion that labor has been the chief sufferer from the policies of the New Deal. The shifting rules, the inconsistent policies, the threat of government competition, the discouragement of profit, and the fantastic, punitive taxes—all these have been sold to the people of America with a false label marked “liberalism.” Actually, these practices have curtailed the number of jobs. Common sense tells me that what labor wants is jobs. . The more jobs there are “available, the higher wages will be. I want to increase jobs. And, therefore, I want to abolish those New Deal practices. Labor is entitled to the protection of progressive labor legislation,
i such as the Wages and Hours Law
and the National Industrial Labor Relations Act. But these laws must be administered in the interests of the whole nation. Their purpose is to reduce industrial strife, not to foment it. The proper function of our Government is to police the activities of its people so that they .do not injure each other. or encroach upon each other's rights. It is in this spirit that Government should stand with relation to workers and employers, not as opponents of either party, but as a friend to both. Labor must remember, and business and Government must remember, that we in America are young. Unlimited capacity for growth lies ahead of us. We must remember
that for youth almost nothing is
indispensable. Youth can adapt itself, invent, grow, and flourish. We are not old enough to have an indispensable man—or an indispensable law—or an indispensable theory of economics. The New Deal hag imprisoned us in its own notions of what is indispensable; but we shall find that the bars of our prison, if we push them, are purely imaginary. We don’t, have to have a third term. We don’t have to have 9,000,000 unemployed. We don't have ® hate business. All we have to do is to proceed upon the elementary principles of common sense to a new horizon for our people.
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