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provides adequate revenue but does not thwart enterprise and penalize the successful.
“The principles and objectives of the plan have been embraced by a great number of business and other organizations and the list is growing daily. For the first time since steep progression became the guide rule of federal tax policy, there Is a broadly based and unified movement to establish rate moderation as the first principle of income taxation.”
Besides marshalling the major materials and arguments in support of the program that seeks to wipe out Injustices in individual Income tax rates that reaeh as high as 91 per cent and the top corporate rate of 52 per cent, the booklet demonstrates how other tax cut proposals would either prove injurious to the country’s economy or fall far short of providing, proper relief.
"Achievement of the goals of the five - year plan,” the booklet concludes^ “would release the
tax blocks tft" the beginning and development of small business and assure maximum growth of all business without government manipulation and control. A large part of the tax savings would become new venture capital.
“The bulk of the individual tax reductions would flow to the energetic and ambitious people who are the economic builders and job makers of tomorrow.’* Copies of the booklet are available at NAM headquarters, 2 East 84th Street, New York, and at the association’s field offices.
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