Truth from Tiffany [Reader Post]

Tiffany Jewelry used to run these large print ads in the New York Times, circa 1980.

Can Full Employment Be Accomplished by Government Action?
Yes it can; How can government create full employment? Here’s how.
1 – Begin winding down the bureaucracy.
2 – Stop increasing taxs on people who work.
3 – Stop spending the people’s money irresponsibly.
4 – Ban all price fixing and transportation rate fixing. [if we continue transportation rate fixing, Houston is going to starve; trucking is our lifeline].
5 – Release vast quantities of capital funds by discontinuing double-taxing on dividends.
6 – Take vigorous steps to encourage savings and capital formation.
7 – Free the people from the poppa knows best policy.
8 – Repeal government regulations that prevent corporations from competing with each other.
9 – Cease deficit spending.
10 – Stop persecuting God.

Is Profit a Dirty Word?

No it is not, but it is very misunderstood. By profit, most people only think of net profit but net profit is only a tiny part of it. The profits generated by all economic activity pay for everything, including raw material, tools, rents, machinery, wages, union dues, interest, advertizing, pensions, dividends and all other costs associated with mines, farms, industry and commerce. Out of profits to come all taxes from corporations or individuals which pay the entire expense for federal, state and local government, including social security, welfare, public schools, and national defense. And every dollar you earn or receive comes out of profits, directly or indirectly, and pays for your food, clothing, shelter, education and all other living expenses. So let us stop damning profit and start defending it. Not only from government over-regulation but also from well-meaning people and some not so well-meaning, or we will end up seriously injuring our economy. Only by defending profit can we achieve more equitable wages, generate the capital needed to employ more people, create jobs for future generations, and gain prosperity for all.

The Nitty Gritty about Socialism:

Socialism is the final result of the erosion of democracy and replacing it with ever-growing bureaucracy. More and more bureaucracy results in less and less freedom until finally, the multitude of decisions formerly made by free men and women are made by power-mad bureaucrats. So let’s look at the record:
1. Bureaucracy is making it impossible to solve the energy crisis.
2. Bureaucracy has seriously crippled the automobile business.
3. Bureaucracy has ruined the railroad business.
4. Etc., etc. etc. So if we want to halt this juggernaut, we will have to stop frustrating the efforts of free Americans and begin to cut down on bureaucracy to more practical and sensible limits.

The Truth about Capitalism

Some people think that there are many economic systems, namely socialism, communism, fascism, or capitalism; this however is not true. Socialism, communism and fascism are not economic systems; they are political system. There is only one economic system and that is capitalism. Russia, China and America and all others operate under the capitalistic system no matter what they call it. The difference is, in some countries, the capital is owned by the government and in others, by private individuals or groups of private individuals. Now when governments own, interfere with, or over-regulate private ownership of capital, they invariable destroy the initiative of the people and eventually get into trouble. The only capitalism which has produced prosperity in the long run is the one which promotes freedom for its citizens. It is hoped that the world will someday wake up to this important truth.

Who Owns the Capitalist System?

Do the big corporations own it? No. Does the government own it? No. Do the bureaucrats own it? No. Do the rich own it? No. Okay, who owns it? Here’s who: farmers, businessmen, professionals, government employees, corporate employees, members of labor unions, and all the owners of government and corporate and government securities; in short, everyone owns the free enterprise system. So since we all own it, let’s stop trying to beat it to death. Instead, let’s treat it with the respect that it deserves.

These cannot be found on the internet, unfortunately.  I was listening to the teaching of a former pastor of mine (R. B. Thieme, Jr.), and he read several of these at the beginning of a lesson which he originally taught in 1980.