How high taxes destroy jobs
OHN SMITH is a good mechanic who saves his
money and starts a little alley shop making
widgets. He works hard, hires two good fellow-
workers, his wife keeps the books, and he prospers.
He keeps costs low, sells widgets at $2 each, and
has a good year-he makes $1000 profit.
He's delighted. Now he'll buy modern machin
ery that will cut costs so he can sell widgets for
$1.50. He knows he'll sell so many he can hire 3
more men and raise e...