September ,4, 1985 EXTENSIONS OF REMARKS 22901 EXTENSIONS OF REMARKS WHAT'S YOUR DEGREE WORTH? college degree. And I'm sure you know that course, today you've just met Verne Palm WHOM DO YOU OWE? THE the odds for your making more money and burg, Vice President of sales for a large agri COMMENCEMENT ADDRESS OF being more economically independent are in business corporation and Neal Jorgensen, a DR. GEORGE R. FIELD your favor. But I want to talk about more distinguished professor at the University of than just money. You might be interested Wisconsin-Madison. There have even been a to know that during this graduation season, couple of university presidents among our HON. STEVE GUNDERSON starting a few weeks ago and ending mid graduates but, somehow, they have not been OF WISCONSIN June, there will be approximately one mil selected as distinguished alumni. Our gradu IN THE HOUSE OF REPRESENTATIVES lion BA degrees conferred, 300,000 MAs and ates have achieved success and recognition 35,000 PhDs throughout the United States. in all walks of life, just like those graduates Wednesday, September 4, 1985 There will be 15,000 degrees conferred from the East, the West and the South. Car Mr. GUNDERSON. Mr. Speaker, after 17 throughout the University of Wisconsin dinal Newman once said, "No one was ever years of distinguished service as chancellor System, and we will confer approximately honored for what they received, honor has of the University of Wisconsin-River Falls, 550 at UW-River Falls. There will be at least been a reward for what one gave." Those 2,000 four-year public or private universities pictures on the wall are of men and women one of five University of Wisconsin cam granting degrees during this period. Ap puses in my district, Dr. George R. Field is from this University who have given much proximately 600 are public, state supported to their profession and to the communities retiring. universities. Around 75 of these public state in which they live. On May 25, 1985, Dr. Field delivered his supported state universities are very well Let me give you some examples from insti final commencement address as chancellor. known. The balance are relatively unknown. tutions like the University of Wisconsin I am pleased to include that address enti A book was written in 1962 called "Colleges River Falls-institutions that aren't in the tled "What's Your Degree Worth? Whom of the Forgotten America." We were the col upper elite, colleges of the forgotten Amer Do You Owe?" in the Record for the bene leges of the forgotten America. Almost a ica. In fact, institutions like us but with dif quarter of a century later, since that book ferent names, perhaps some names you've fit of my colleagues and their constituents. was written, we no longer are in that catego COMMENCEMENT ADDRESS SPRING, 1985 never heard. Former President Lyndon ry, forgotten, but we are gaining P.restige, Johnson was graduated from Southwest At this point in the program, I usually in distinction, and we do have academ1c qual Texas State University; Julian Goodman, troduce our commencement speaker. But ity. President of the National Broadcasting since this is my last year as Chancellor, the An interesting question might be, "How Company, Western Kentucky University; Public Relations Committee asked me to does your degree stack up against the one James A. Michener, author and Pulitzer give the commencement address. I also million or, for those of you receiving the prize winner, University of Northern Colora heard by the grapevine that they knew it Masters Degree, the 300,000? Is the degree do; the honorable Val Peterson, former gov wouldn't cost the university a cent, so I get you're receiving as good as those from Har to introduce myself. I have been President ernor of Nebraska and former Ambassador vard, the University of Michigan, the Uni to Denmark and Finland, Wayne State Col or Chancellor of this University since 1968, versity of Wisconsin-Madison, the Universi 17 years. I have attended 32 out of 34 grad lege in Nebraska; Marvin Stone, editor of ty of California-Berkeley, Stanford, etc.? Is U.S. News and World Report, Marshall Uni uations during this time. I missed one due to it better or worse? My answer is that it may illness and one to attend my son's gradua versity in West Virginia; Val Fitch, a physi be worse for a year or two and then equal cist, winner of the 1980 Nobel Prize for Sci tion at the University of Colorado. But in for a lifetime. Why worse? Many people stead of telling you more about me, let me ence, Chadron State College in Nebraska; lcok upon the prestigious as being better. Barbara Jordan, former congresswoman tell you about this University. Consciously or unconsciously employers will My talk may be more sentimental and from Texas, holder of the LBJ Centennial look at vitae, resumes, and say, "Oh, some Chair on National Policy at the University emotional than "world wise" because this one from Harvard-must be good." Compar University means much to those of us who of Texas, is an alumna of Texas Southern ing Harvard to the University of Wisconsin University in Houston, a black college; Mike work here. My mother and father were River Falls, one might ask, "Where is the graduated from the University of Wiscon Mansfield, former Senator and U.S. Ambas University of Wisconsin-River Falls?" Until sador to Japan, Montana College of Mineral sin-River Falls in 1923. I had uncles who you get that first job, you may have to be graduated before 1920. I have aunts and Science and Technology; Dan Rather, more patient and a better fighter to get you've all heard of him, the CBS anchor cousins who attended here. My three sons your foot in the door. Initially, you may be and two daughters have been at this univer man, from Sam Houston State University in at a disadvantage, but after that first job, Texas; Thurgood Marshall, Justice of the sity and my wife received her degree a few everything is equal. years back. Many faculty and staff can take United States Supreme Court, from Lincoln the podium and say much the same thing. Now you will be compared to another indi University in Pennsylvania; Leontyne Price, This place is more than a University to most vidual, not to where he or she received a the famous opera singer, from Central Uni of us, it's family. Now as a family, like all degree and where you received your degree. versity in Ohio; and Robert Dole, United families, we have our good points and bad. In five and certainly by ten years, no one States Senator from Kansas, Washburn We're not perfect but we try to be human. will ask, "Where did you get your degree?" University in Topeka, Kansas. I mention They will ask what kind of person you are, these names to make my point, that the We work within a large system of higher how you work, how you think, how you education and we work for the State of Wis degree you are receiving today is as good as consin. We are not an island to do what we communicate and what you've accomplished any degree conferred in the United States. want. We have system rules and state and so far in your particular assignment. Lee Ia You can go far with the basics that you've federal regulations. But within this bu cocca, in his autobiography, made a state obtained during your time at this Universi ment that formal learning can teach you a ty. So the good news and my theme-you reaucracy we try to be flexible and respon great deal, but many of the essential skills sive. I've listened to 31 commencement ad can be proud of the degree that you will re dresses. It will be 32 if I listen to this one. in life are the ones you develop on your ceive today. The bad news or good news de Most were good, especially those at the fall own. This university has given you the pending upon your perspective, is that now graduation exercises when the faculty basics, the start. Now it's up to you. you have to prove it. It's not where you get Let me prove my point that your degree is your degree but what you do with it. member who has been selected as the distin as good as any in the United States by men guished teacher gives the address. Most tioning a few of our graduates. Look at the WHY WERE OUR KIND OF UNIVERSITIES commencement speeches have a theme, a wall as you walk into the Student Center ESTABLISHED? message and, of course, a charge to you as Ballroom. You will see pictures of men and Gunnar Myrdal, the Swedish Nobel prize you leave. I will do that too. women. These are our distinguished alumni. winner in economics, stated that, "Educa WHAT'S YOUR DEGREE WORTH? You will find doctors, lawyers, professors, tion has in America's whole history been All research indicates that you will make vice chancellors, businessmen, an astronaut, the major hope for improving the individual more money than those who don't obtain a researchers, distinguished politicians and, of and society." This University was a Normal
e This "bullet" symbol identifies statements or insertions which are not spoken by the Member of the Senate on the floor. Boldface type indicates words inserted or appended, rather than spoken, by a Member of the House on the floor. 22902 EXTENSIONS OF REMARKS September ,4, 1985 School, a teachers' college, a state college, owe many. If, as I hand you your diploma munity, give back some of your time and and now it's a University. We were estab today, I were to hand you a bill for the full effort to activities where you live. Let me lished for the people, for those not able to cost of instruction of your education, I end by giving you a few quotes-quotes that go to Harvard or to travel far from home would hand you your diploma and a bill for I've heard over the years and that I cannot for those, not affluent, who needed a $20,000 and that's a fairly conservative esti improve upon. Woodrow Wilson before he chance to better themselves and to improve mate. If I include the cost of depreciation of was President of the United States was society. Many of our forefathers, especially buildings, it would be $40,000 and that's cer President of Princeton University, and he Thomas Jefferson and Abraham Lincoln, tainly a rough guess. And if I add the cost of said to students, "Don't forget as you walk believed that to have a strong democracy land, it would be $50,000. So you owe plenty. these classic places, that you are here to you need to educate the masses. So we're in What should you do about this debt? Well, enrich the world and you impoverish your existence to educate ordinary people. And for the first few years, you better not com selves if you forget the errands." You too all of the schools that I mentioned previous plain about taxes. Then, after you take that will have a less' satisfying life if you forget ly were established for the same reason. first job and you save and struggle for eco the errand. Another one, Dr. Jonas Salk on We're to give you, the individual, the oppor nomic security, and you become reasonably the recent 30th anniversary of the develop tunity to improve, to improve society, and to comfortable, it's time for you to take on the ment of polio vaccine, when asked what his strengthen democracy. There is no question other jobs that we all shy away from-jobs greatest reward was, did not stress the elimi but that the hopes and dreams of the with no glory and many headaches. For ex nation of the disease along with the misery human race still lie in the power of educat ample, run for the school board or the and hurt that accompanies the disease. ed men and women. State colleges and uni police commission, volunteer to be on the Rather, he quoted Ralph Waldo Emerson versities like UW-River Falls educate about park and recreation board or seek election who said, "The greatest reward is the oppor one-quarter of all the people attending insti to the city council or the county board. It's tunity to do something more." You will tutions of higher education in the United interesting to note that even in River Falls, short change yourself if you don't do some States and most of our clientele are from most people say, "I hope they solve this thing more. Beverly Sills, who retired from small towns which would be royalty income deemed to be personal hold ness expenses, even though the company deductible as ordinary and necessary busi clearly is engaged in active, ongoing busi ing company income. See Private Letter ness expenses if the corporation had been Ruling 8450025
. Such compensation is that total more than 10 percent of its ordi B. Exclusion for Computer Software Roy not treated as a qualifying expense for pur nary gross income. alties Derived by an Active Business. poses of this test. This requirement is included to prevent a The Act adds a new exclusion from the In addition, by so excluding the compensa corporation receiving the benefit of the definition of personal holding company tion of major shareholders, the test address computer software royalties exclusion from income for computer software royalties that es the "incorporated talent" concern by in sheltering significant amounts of other are derived by the corporation from the effect requiring that the corporation's oper types of personal holding company income. active conduct of a trade or business. ations extend beyond merely the efforts of Computer software royalties, interest C. Standard for Computer Software Roy such major shareholders. earned on working capital balances during alties from an Active Business. For purposes of the test, any software de the corporation's start-up phase, and divi For purposes of the new exclusion, com velopment costs that are not properly treat dends from a (50 percent or more> subsidi puter software royalties will be treated as ed as R&D costs under Code section 17 4 are ary that qualifies as an active software busi derived from the active conduct of a trade treated as ordinary and necessary business ness are not considered to be personal hold or business if the corporation satisfied the expenses under Code section 162
51-059 0-86-4 (Pt. 17) 22930 EXTENSIONS OF REMARKS September 4, 1985 improve within their own scale of values to all Mexicans without the creation of two A country and its political system cannot and cultural models. critical factors-political and economic free be judged by one electoral campaign. To be It is important to point out that new polit dom. We do not see how the Mexican gov able to understand and to analyze that ical leaders have been elected by Mexico in erning institutions can escape from either, country's electoral processes in an objective each of its electoral proceedings; this has as PRI attempted to do in last weekend's manner, it is necessary to study its history undeniably been the continued decision of elections. and political movements in depth. Superfi the majority of Mexicans and of Mexicans Though it's true that Mexico has been cial analysis may be the reason why the ar only. ruled by a single party for most of the cen ticle suggests that a bi-party system is the Most of the voters believe that their legiti tury, it is no Cuba. People speak, move and only legitimate form of democracy. To deny mate popular representatives have gradual publish freely in Mexico. The country is de the Mexican multiparty system is to deny ly promoted the country's development and veloping an educated middle class. Mexico's right of expression and political participa maintained domestic and international admirable system of personal freedom has, tion to other ideologies and ways of living peace for several decades, notwithstanding in short, created a large population of equally respectable. the crises and hardships that Mexico, like smart, opinionated people. This explains On the other hand the editiorial is unfair even already industrialized countries, has why an opposition party like PAN has come to the Mexican nation in saying that "many faced throughout its long process of devel into existence; it's hardly surprising that of Mexico's most motivated workers surge opment. progress and modernization wc•.•ld impinge into the U.S.," while "Mr. de la Madrid is JORGE ESPINOSA DE LOS REYES, on PRI's closed system of political and eco left with a politically dispirited and cynical Ambassador of Mexico. nomic rewards. population." However, pretending to be bal Washington, July 17, 1985. PRI and the Mexican government can try anced, the article contradicts itself in an to adapt to this healthy political develop other paragraph, indicating with patroniz [From the Wall Street Journal, July 12, ment, as President de la Madrid sometimes ing attitude that "Mexico's admirable 1985] has. Or they can try to kill it, as PRI did system of personal freedom has, in short, MExiCAN DEBACLE last weekend in Nuevo Leon and Sonora. created a large population of smart, opin It is time for Mexico's responsible leaders But efforts to prop up such an increasingly ionated people." as well as the country's friends outside to sit artificial political system have serious eco JORGE ESPINOSA DE LOS REYES, down and do some serious stock-taking. nomic implications. While many of Mexico's Ambassador of Mexico. Mexico is a troubled nation, a fact made most motivated workers surge into the U.S, Washington. plain by last weekend's midterm elections. It Mr. de la Madrid is left with a politically is not merely that the ruling Institutional dispirited and cynical population to respond Revolutionary Party