Government Finance

The New Deal Administration has been characterized by shameful waste, and general financial irresponsibility. It has piled deficit upon deficit. It threatens national bankruptcy and the destruction through inflation of insurance policies and savings bank deposits. We pledge ourselves to:

Stop the folly of uncontrolled spending. Balance the budget—not by increasing taxes but by cutting expenditures, drastically and immediately.

Revise the federal tax system and coordinate it with state and local tax systems.

Use the taxing power for raising revenue and not for punitive or political purposes.