Can’t
reduce
taxes
without
cutting
spending
too
government.
We can make sizeable savings by limiting mili
tary expenditures to what is essential, but to
reach that $50 billion expenditure goal we must
also sacrifice many of the "handout” programs
favoring some groups of citizens at the expense
of the general taxpayer.
WON’T BE EASY
Such a Federal retrenchment program will not
be easy. But we can achieve it if we insist on
the kind of expenditure and tax reduction that
will strengthen the U. S. and enable us to spend
our money as we want to and not have the gov
ernment spend so much of it for us.
JOHN W. HANES is Chairman of the
Tax Foundation. A former Under Secre
tary of the Treasury, he was Chairman of
the Hoover Commission’s "Task Force”
on budgeting, accounting, and fiscal pro
cedures. He is Financial Vice President,
a member of the Executive Committee
and a Director of Olin Industries, Inc.,
and President of the Ecusta Paper Cor
poration. This article was prepared for
publication in the Hearst papers.
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