So what is the answer? Are

So what is the answer? Are we to be saddled forever with the present high rates of taxa$, tion, which reduce.our abilities* to provide for our own comfort and he education of our children and which dry up quickly business’ reservoir of capital available for modernization, expansion and new ventures?

. Perhaps so, unless we decide either to plung into deficit financing with reckless enthusiasm and vague expectation that the future, somehow, will take care or itself—or decide that we finally are ready to undertake at home many of the functions for which we now expect federal “aid.”

The Wall Street Journal, which certainly Ss not happy with durrenf tax rates, laid bare the hard, unpleasant facts in a recent editorial:

“The simple fact is that the Government is now running a deficit of more than $3 billion. There is no plan whatever to reduce the Government’s crasd again under the guise of spending. Rather it is being increased again under the guise of ‘helping* us out of this recession. And with this increases spending, the so-called tax cuts would increase the deficit many billions more. Some politicans have talked blithely of a $12 billion to $15 billion deficit— each year. •

“And on this we had best not kid ourselves. If this is what a ‘tax cut’ means it means no tax cut at all. It simply means hat for the political effect of forty pieces of silver for the taxpayers to jangle in their pockets they will pay, ngany times over not merely in future taxes but in the theft from all values, happv fact, a discouraging fact,

“For it is a harsh fact, an unbut a fact nontheless that the Government has no way of creating the real money to pay for this tax cut it would bless us with. It can give the people dollar bills all right, but in the

end it must carve > them out ot the people’s hides.”