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There have been cases and still are actual cases of where a tax-free government power project sells its product at a lower rate per KWH than its privately-owned competitor is forced to pay per KWH in taxes. One does not have to be a certified public accountant or a mathematical wizard to figure that privately-owned company, operating under such unfair competition, is doomed to “close up shop," the only question being just how long it will be able to continue in business. *
But even more serious than this unfairness to private investors is that at a time when governments need every dollar of revenue they can collect, the Federal Government sets itself up in various businesses, exempts them from taxation and cuts off important sources of revenue.
This columnist always has bitterly opposed government going into business, either in competition with or to the exclusion of Private Enterprise. -This nation has had so many striking evidences of the superior efficiency of Private Enterprise, of its ability in many cases to meet unfair, untaxed government competition, that 1 marvel there is still one single /tnerican propagandizing to put the government into further businesses.
But, if we must have these gov-* eminent projects, then every dictate of fairness decrees that they should operate under the same rules and regulations that govern Private Enterprise. And if one has no disposition to be fair, then purely, selfish motives should demand equal taxation of government businesses in order to provide tax revenues so badly needed now and in the future.
This making SHEEP of government enterprises and GOATS of private enterprises, works an injustice notonly to. the stockholders who have put their savings into privately-own
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