Capital Formation: Hearing Before the Joint Economic Committee, Congress of the United States, Ninety-fourth Congress, Second Session, June 9, 1976 |
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additional assets basic materials BERNSTEIN billion BROWN of Ohio business investment business sector capacity utilization capital formation capital investment capital requirements capital shortage Chairman HUMPHREY CONGRESS THE LIBRARY consumer consumption cost deferral demand depreciation dividends dollar economic growth Eisner electric power industry electric utility energy estimated expansion expenditures facilities financing fixed investment full employment going gross growth rate higher impact income tax incremental inflation interest rates investment credit investment tax credit JAICKS Joint Economic Committee labor LIBRARY OF CONGRESS ment O'CONNOR OLSEN output percent period plant and equipment prepared statement private saving problem production projects proposals public policy question rate of increase rate of return ratio real wage real wage rates recession reduce Representative BROWN result revenue loss savings rate Senator FANNIN spending substantial tax laws tax structure tax wedge Thank tion Ture
Popular passages
Page 30 - Experience should teach us to be most on our guard to protect liberty when the Government's purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding.
Page 28 - ... our PRIDE, and four times as much by our FOLLY; and from these taxes the commissioners cannot ease or deliver us, by allowing an abatement. However, let us hearken to good advice, and something may be done for us; God helps them that help themselves, as Poor Richard says in his Almanack of 1733.
Page 72 - Accounts data, show that from 1947 through 197?. the number of full-time equivalent employees in the private business sector of the economy increased at an average annual rate of 1.5 percent a year.
Page 84 - Residual assets Include net trade credit, residual financial asset items, and statistical discrepancy.
Page 109 - POLICY (Adopted by the Board of Direction of the American Society of Civil Engineers as official policy of the society, May 1963) The most important basic principle of a sound transportation policy...
Page 28 - If every man insists on knowing what he's voting for before he votes, we're not going to get a bill reported before Monday.
Page 75 - ... the desirability of reducing tax "expenditures", it is mere wishful thinking to project any increase in the National saving rate from doing so. Achieving a higher rate of gross national saving by Federal surpluses, therefore, is not a realistic solution. Consequences of Shortfall in Private Saving What will happen if actual saving falls short of these "requirements"? In all likelihood, the capital formation shortfall would be largely in the investment in the machinery, equipment, plants, working...
Page 28 - Congress does have the power to "lay and collect taxes" in order "to pay the debts and provide for the common defence and general welfare of the United States," and the promotion of education is clearly for the country's general welfare.
Page 79 - States by 6% percent from the fourth quarter of 1973 to the first quarter of 1975.
Page 22 - ... to improve the quality of life and the standard of living of the rural population and to give the people more decision-making power regarding their lives and development.