Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 4 · column 4 of 6 · from the scan, no model involved
It** Your Money . . ,*
The trouble with most discussions of taxes and the national debt is that they take place in a financial stratosphere. Almost no •once can think logically in terms of tens of billions and hundreds of billions. v > But when the meaning of taxes and the debt is felated to the average man and the average family, the ominous picture clears. The Bulletin of the Southern States Industrial Council recently did that when it said, “The public debt is $260,000,000,000, and this lays a $6,800 burden on every family in America. The interest. J alone on this debt aggregates more than $6,000,000,000 annually—or $180 for every family. Last year the average family paid 589 in direct taxes and another : $500 in ‘hidden’ taxes. A total of more than $2,000. This year the *take’ will be greater. '*
“When the $85,500,000,000 budget proposed for next year— which it is now estimated #11 create a deficit of $14,000,000,000—is compared with current (Federal spending—we find that it will add an average financial liability—either in taxes or increased debt—of $226 for every family in America.”
There it is. We can’t think in billions, but we can think in hundreds and in thousands, <i’s your money. It’s coming out of your pockets—and it will come out of your children’s pockets. Debt and taxes are destroying us from within. It isn’t a question of whether we “want” to cut government spending. We “must" cut it—if we are to survive as a free people.
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