10-Heppner Gazette Times, November 291945
YOUR TAXES
by
Harlet L. Lutz
Professor of Public Finance
Princeton University
Postwar Budget Policy
The number one postwar fiscal problem is budget policy. Two
closely related issues give this subject great importance. The first is
the amount of expenditure to be authorized; the second is whether or
not the expenditures, at whatever level established, are to be pro
vided entirely out of taxes and other receipts, or in part out of loans.
In this writer's opinion, the cor
rect decision on these matters is
a plain, direct declaration that an
annually balanced budget is to be
the goal under any and all condi
tions likely to be encountered in
the postwar period.
Good budget procedure re
quires that the legislative body
consider, as one comprehensive
over-all fiscal project, the pro
gram of spending and the pro
gram of taxation. Each part of
, the over-all program depends up
on the other part The amount to
be collected in taxes must be
fixed with reference to the pro
posed expenditures; and the
amount to be spent must be fr:ed
with reference to the burdens in
volved in providing the necessary
v tax revenue.
'It is plain, of course, that ''
goal of an annually bah: :",
budget means an effort to ir-'"-tain
this condition during-(!' -sion
years as well as in pro:;
ous years.
The maintenance of a '
budget during a deprc:
with larger payments f
involves getting the
revenue in such ways as are pos
sible, and devising the tax sys
tem to this end.
The importance of diversity of
revenue sources may be seen from
a consideration of our experience
with the income tax. The record
shows that the yield of this tax is
highly variable and uncertain. It
can be enormous in prosperous
years, or it can virtually disap
pear in depression years. On the
other hand, taxes which are based
in some way upon the spending
of income for consumption pur
poses are more stable.
As part of the planning for a
bright new world in which some
things that have happened are to
be prevented from happening
r.:Tain, we should take steps to
rssv.ro that we shall not again
create burdens of taxation or of
i'.z'jt repudiation for a future gen
eration by borrowing our way
" of our own troubles. We
' -''d have what it takes, moral
well as financially, to pay
- ay as we go. We should be
ared, fiscally, as we plan
i other ways. We should
' j the budget and keep it
vcar in and year out
Oregon Banks Win
Firm Service Award
For the 16th consecutive year,
Morrow county's bank has partici
pated with 65 other Oregon country
.banks to win the 1000 point award
of the agricultural commission of
the American Bankers association,
according to B. C. Pinckney, who
is county key banker of the Oregon
Bankers association.
The award was made on a hasis
of constructive "regular" and "ex
tra" services rendered by the
banks in the interest of agriculture,
and all banks in the state and the
Oregon Bankers association share
in the honor. Their exceptional
work scored much higher tan the
minimum 1000-points necessary to
win it.
' The work done in their home
communities by the banks of Ore
gon contributed substantially to
the success of the ABA national
JV14-45 program, "Help Keep Ag
riculture Financially Sound," which
-irrs nt many benefits for agricul
ture. Its immediate goals are: (1)
Help farmers build and maintain
financial reserves through planned
savings in War Bonds and bank
accounts: (2) Work to prevent a
farm land price boom; (3) Give all
out support to make farm provi
sions of the G. I. bill workable by
riding the returning veterans whose
desire, experience, and ability will
support successful farm operations;
and (4) Keep farm debts at a safe
level.
HAD FAMILY DINNER
Members of the R. E. Alstott
family gathered at the Johnny
Bray home in Hermiston fof
Thanksgiving dinner. Enjoying the
dinner with the Brays were Mr.
and Mrs. R. E. Allstott, Robert All
stott and family, Otis AAllstott and
family and Mrs. Archie Padberg
and family.
4iM Vitamins A,B,C.D,E, JO kq
l ' G P,us ,iver n1 "on. 5 An 9 3
- l . It n MlllSr
HUMPHREYS
Mrs. Hugh Gaily received a tele
gram from her cousin Claude
Snow saying
he has arrived in
San Francisco from Okinawa and
will be seeing his family and rela
tives soon.
DRUG
COMPANY
VA
STAR HB REPORTER
4. ... r7r .... . sWsmjsisimiim
p I I
Christmas tip .. r v
Give her a illpl
Tip on how to please a girl this Christmas . , . give her
a slip! A bias-cut, classic slip in rayon crepe, smooth and III
sleek. Or a soft-as-silk rayon, daintily embroidered,
pretty to-look'at! Low priced as a gift to you! j
95c 1.95 2.98
Friday-Saturday, November 30-December 1
On Stage, Everybody
Peggy Ryan, Johnny Coy, Jack Oakie, Julie
London, Otto Kruger, Esther Dale, Wally
Ford
Radio's miracle show joins the merriest
stars of the screen. A bright package of tunes
and tomfoolery.
PLUS
Stagecoach to Monterey
Alan Lane, Peggy Stewart
SPECIAL!! Saturday. Dec. 1
2 P. M. Children's Victory
Drive Matinee
The picture is "My Friend, Flicka", a re-release
of the great Technicolor story of a boy
and his horse. Children are requested to buy
both bonds and stamps at the bank or post
office. Tickets received with bond purchases
are to be handed in at the show but stamps
may be presented at the theatre door.
Sunday-Monday, December 2-3
A Bell for Adano
John Hodiak, William Bendix, Gene Tierney,
Henry Armetta
John Hersey's Pulitzer Prize-winning novel
magnificently told in a great motion picture.
A story based on the belief that only from
the hearts of men can come a proper peace.
You should see it...at least once.
Tuesday, December 4
Victory War Bond Premiere
Thrill of a Romance
A beautiful Technicolor musical with Van
Johnson and Esther Williams, with singing
by Lauritz Melchior.
Admittance to this show is by war bond
purchase only. Tickets may be procured
from the bond issuing agency whereyour
bond was purchased. Plans are being made
for presentation of the Morrow County
Victory Queen Contestants and fr other
entertainment.
Wednesday-Thursday, December 5-6
Salty O'Rourke
Alsm Ladd, Gail Russell, Stanley Clements,
Will Demarest, Spring Byington, Bruce
Cabot
A thoroughbred racing picture from starting
gate to finish line ... plenty of suspense,
color, action and a whirlwind climax.
Uncalled-for Clothes . . . .
We have been holding a lot of uncalled-for
clothes for several months and must dispose
of them to make room for new orders A few
customers have had garments here from two
to seven months, among which we have list
ed the following--
Allstott
Ed Adkins
Pete Curran
Eloise Cox
Dundes
Rice
John Foley
Walt Gilman
Grant
Bob Gamble
Gaskell
Inez Gentry
K. Kelly
Monahan
Mollahan
R. Patterson
Tuttle
This does not include clothes we agreed to store
If owners herewith listed do not claim gar
ments by JANUARY 1 1946 we will be oblig
ed to sell them for reason above stated.
Heppner Cleaners & Dyers
Box 266
HEPPNER, OREGON
Phone 259-2