(Helena, Mont.), 1956-12-28

Page Four THE PEOPLE’S VOICE December 28, 1956 1956-An Eventful Year SOCIAL SECURITY TAX COES UP JANUARY I How Sound Is the Boom? (Continued from Page One) feats to the much larger union which District Director of Internal Reve tical expediency was legislation pro headquarters in Pittsburgh. nue Thomas M. Robinson this week viding for additional federal aid to '•RIGHT-TO-WORK” BROUGHT reminded Montana employers that re Economists Take a look education, and legislation to safeguard UNITED EFFORT cent amendments have changed tax rates under the Federal Insurance Con the civil rights of millions of Ameri All Montana labor united as one From LABOR’S DAILY taxes has increased from $237.4 to tributions Act (Social Security) and cans, particularly om- large Negro late last spring when reactionary em How soundly based is this business $287 billion during the same period. filing requirements under the Federal minority. ployer groups attempted to put a “boom” we heard so much about dur Thus while personal income went up Unemployment Tax Act. A Presidential veto, because of ques fraudulently named “right to work” ing the recent campaign? about 21 per cent, corporate income tionable lobbying activities, of the no measure on the November ballot via New FICA rates on wages paid on No one is talking about a repetition went up almost 43 per cent—more than torious natural gas bill probably saved initiative. With much active support or after January 1, 1957 will be 2 Vi of the Great Depression of 1929. We double the rate of expansion in per gas consumers in excess of $600 million from Montana Farmers Union, labor per cent each for employers and em have a great many “built-in” stabilizers sonal spendable income. annually. Although expressing sym was successful in decisively defeating ployees. a total of 4y2 per cent, Mr. in our economy such as Social Secur Analyzing the distribution of per pathy with the gas industry’s desire the initiative bid with the measure Robinson said. ity, unemployment compensation, farm sonal income still further, w© find that to free itself of Federal Power Com receiving less than a fourth of the The changes in the Federal Unem price supports, a public works “shelf”, wage and salary earners—'the coun mission regulation, the President ve minimum number of signatures to gain ployment Tax Act, he explained, pro government lending and insuring try’s great consuming class—did not toed the bill because of what appeared a place on the ballot. vides that employers who had four or agencies whose job it is to see that fare as well as investors, much less to be attempts to buy Senators’ votes Increased political activity also more employees on at least one day we don’t have a repetition of the 1929 corporations. Thus investment income, including by lobbyists for oil-gas companies. marked the life of Montana’s organ of each 20 calendar weeks during 195*3 bank failures and mortgage foreclos personal interest and dividend re This legislation is slated for réintro ized workers in 1956. Of 13 state and will be required to file Form 940 by ures, and we have a huge defense ceipts, increased from $21.3 billion in duction in the up-coming 85th Con federal candidates endorsed by the January 31, 1957. The filing of Form budget pumping $40 billion a year 1952 to $30.1 billion in 1966. That is a gress. political arm of Montana AFD-CIO, the 940, Annual Federal Tax Return of into the economy, says the WASH rise of 41 per cent. Wages and salaries rail brotherhoods and Mine-Mill, nine Employers, was formerly required of INGTON WINDOW COLUMN of Pub paid out by private industry, on the were successful at the polls Novem employers who had eight or more em lic Affairs Institute. Agriculture other hand, increased from $152 billion ployees. At the same time, it is startling to Ezra Taft Benson and drought were ber 6. to $187 billion, or only 23 per cent over Recognition, for the first time, in Mr. Robinson said that copies of this note how economists seem drawn irre the two biggest headaches of Montana the same period. both party platforms of the need for return have been sent to most of the sistibly into making comparisons with farmers in 1956. Benson hit them all, A good case can be made that the enactment of Occupational Disease employers in this district. However, what happened in the 1920’s and what the drought only the counties of the balance between the two sectors, in legislation, was also another note he suggested that employers who have may be happening now. eastern third of the state. worthy event in the life of Montana not received this form by January 9, vestment and consumption, lias been The Presidential veto of the 90 per One point frequently stressed in out of line and will continue to be so labor. After more than 40 years of obtain copies from the Internal Reve cent price support bill, at the insis comparing the era ending in 1929 and seeking such legislation, success may nue office at Helena, Montana. as long as present tax policy is fol tence of his Secretary of Agriculture, 1953-56 is the- similarity of tax policy lowed. not be far off. goals. In both periods, Republican Ad assured Montana grain growers of a testing the accusations pointed at Already there are unmistakable continuation of the tightening cost- ministrations tailored tax cuts to as signs that consumption, which up to them by the commission. Suffice to sure plenty of funds for capital expan price squeeze, and is depriving main Montana Politics say, few- Montana people are taking now has been inflated by unprecedent street in much of Montana of millions sion, but attached relatively little im Although Montana liberals suffered their protests very seriously. For some ed installment buying, is beginning to of dollars in farm purchasing power portance to assuring that there would slow down. Since September retail a great defeat when Arnold Olsen strange reason Montana motorists be adequate purchasing power to buy each year. failed to win the Governorship and cannot understand why our gasoline sales have been sluggish. Most of the Montana farmers, making the best the goods that would be produced in Mary Condon failed of re-election, the prices are the highest in the nation, recent gains in production have gone of farm legislation remaining on the ever larger quantities. campaign these two fighters put up did and that, when Montana-refined gaso into inventory rather than consump books in spite of Benson’s efforts, TAX CUTS FOR BUSINESS bring the issues squarely home to the line is shipped outside the state for tion. Housing activity is slackening again voted to restrict their planted voters with the result the Democrats distribution it drops severel cents a Thus, tax cuts for business and up and with it sales of major household acreage and for marketing quotas, Li will have control of both houses of gallon in retail price. per bracket investors were justified by equipment. Farm machinery is in the ■ order to preserve some semblance of Legislature for the first time in IS both administrations more than twenty doldrums. Steel production is at a stable farm prices. VETO UPENDED A years. In addition, Condon and Olsen years apart on the grounds that the re seasonal peak mainly because the auto Retirement of Don W. Chapman as CONGRESSMAN did much to draw a very clear line of sulting investment would produce mobile industry is recovering from president of Montana Farmers Union, demarcation between Republicans and Yellowtail dam and the Presidential "new jobs”. In a sense, this has hap last year’s production cut-back that because of poor health, saw a gallant Democrats, on the basis of issues, thus veto were probably major contributing pened today. Business investment in cost 250,000 auto workers dearly. fighter for agriculture and liberal pro factors in the short-lived Congression giving new vitality to the two-party 1952 was $26.6 billion and for 1956 was Unless new car sales and holiday grams generally temporarily remove al career of Orvin B. Fjare. Eastern estimated at $35.3 billion—a one-third buying pick up inventories will get himself from Montana public affairs. system in Montana. Re-election of Lee Metcalf and elec Montana people realize that every de expansion in four years which is far top-heavy and production and jobs His successor, Leonard Kenfield, had tion of LeRoy Anderson to Congress lay in construction of this 200.000 kilo beyond the 12 to 15 per cent increase will be cut back. 10 years of experience in assisting give Montana the only solidly Demo watt power dam means that much in production of goods and services Further, there is a developing slack Chapman in the leadership of the cratic Congressional delegation from more delay in attracting additional in that might have been normally ex in public investment despite the new 15,000-family strong farm organization, any state outside the South. It is ex dustry to the district to provide jobs, pected. federal road program which will not before assuming the top MFU post. better business and a broadened tax pected that Senators Murray and This tremendous expansion, a capi get into full action for several years. * * ♦ base. They’ve seen the beneficial re / Mansfield and the two congressmen tal spending ‘‘boom’’ it has been right Hospitals, schools, public housing have will give much impetus to securing sults to northwestern Montana from ly called, has produced jobs for work been slowing down rather than keep Montana Labor Hungry Horse and they want similar passage and Presidential approval of ers in heavy Industry.

Load more