Thank you for visiting SNEWPapers!
Sign up free
Story
July 6, 1953
Trainman News
Indianapolis, Marion County, Indiana
What is this article about?
CIO President Walter Reuther announces pamphlet 'Maintaining Prosperity' in Washington press conference, urging plans for 2 million new jobs yearly through 1956, 18% income rise, and measures to avert economic downturn, including wage increases, tax cuts, and anti-poverty programs.
Clipping
OCR Quality
100%
Excellent
Full Text
CIO Gives Its Plan for Prosperity
WASHINGTON - Plans for progress, an increase in national economic activity, and action now are needed to avert a serious downturn in the nation's economy.
That's the statement of the CIO, delivered by its president, Walter Reuther, in a recent press conference here announcing publication of a pamphlet called "Maintaining Prosperity."
Included in the list of needed events for continued prosperity are two million new jobs a year through 1956, and an 18 per cent increase in average per capita income.
Unless these things are coming through serious private and public planning, Reuther foresees the possibility of "a new and unpopular draft--a draft into a standing, growing, dangerous army of the unemployed."
People who think a little bit of depression may be a good thing have got to realize," he said, "that a depression is like pregnancy. You can't have just a little without getting yourself into a lot of trouble."
Full employment can be maintained only if the national output of goods and services is raised from the 1952 level of $346 billion to $410 billion in 1956, said the CIO publication.
The pamphlet is concerned with the problems inherent in the transition from partial wartime economy to one of long-range defense in a period of general peace.
To maintain the rising level of economic activity and prosperity, the CIO recommends:
"Narrowed profit rate margin in the sound American democratic tradition of high output, low unit costs, low unit profits, and fair and substantial returns on capital investment.
"The gap of the past few years between lagging wages and rising productivity must be quickly closed. Wage increases generally in excess of current productivity increases are necessary and possible.
"Reductions in personal income taxes to relieve the tax burden and to increase the buying power of America's great mass market, millions of lower and middle-income families.
"A constant sharing with consumers, through price reductions, of the benefits achieved by corporations through reduced business tax rates.
"A full scale attack on poverty by Governmental programs to aid directly the lower and middle-income groups."
WASHINGTON - Plans for progress, an increase in national economic activity, and action now are needed to avert a serious downturn in the nation's economy.
That's the statement of the CIO, delivered by its president, Walter Reuther, in a recent press conference here announcing publication of a pamphlet called "Maintaining Prosperity."
Included in the list of needed events for continued prosperity are two million new jobs a year through 1956, and an 18 per cent increase in average per capita income.
Unless these things are coming through serious private and public planning, Reuther foresees the possibility of "a new and unpopular draft--a draft into a standing, growing, dangerous army of the unemployed."
People who think a little bit of depression may be a good thing have got to realize," he said, "that a depression is like pregnancy. You can't have just a little without getting yourself into a lot of trouble."
Full employment can be maintained only if the national output of goods and services is raised from the 1952 level of $346 billion to $410 billion in 1956, said the CIO publication.
The pamphlet is concerned with the problems inherent in the transition from partial wartime economy to one of long-range defense in a period of general peace.
To maintain the rising level of economic activity and prosperity, the CIO recommends:
"Narrowed profit rate margin in the sound American democratic tradition of high output, low unit costs, low unit profits, and fair and substantial returns on capital investment.
"The gap of the past few years between lagging wages and rising productivity must be quickly closed. Wage increases generally in excess of current productivity increases are necessary and possible.
"Reductions in personal income taxes to relieve the tax burden and to increase the buying power of America's great mass market, millions of lower and middle-income families.
"A constant sharing with consumers, through price reductions, of the benefits achieved by corporations through reduced business tax rates.
"A full scale attack on poverty by Governmental programs to aid directly the lower and middle-income groups."
What sub-type of article is it?
Historical Event
What themes does it cover?
Triumph
Misfortune
What keywords are associated?
Cio Plan
Prosperity
Walter Reuther
Economic Downturn
Full Employment
Wage Increases
Tax Reductions
Anti Poverty
What entities or persons were involved?
Walter Reuther
Cio
Where did it happen?
Washington
Story Details
Key Persons
Walter Reuther
Cio
Location
Washington
Event Date
Recent
Story Details
CIO President Walter Reuther presents plan in pamphlet 'Maintaining Prosperity' for economic growth: 2 million jobs/year to 1956, 18% income increase, raise output to $410 billion, narrowed profits, wage hikes, tax reductions, price cuts, anti-poverty programs to avoid unemployment and depression.