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FR/abh
August 21. 1967
Honorable James H. Earnest
Judge. Civil Court of Record
Dade County Courthouse
Miami. Florida 33130
Dear Jim:
Thank yen for sending me the nice articles from the Miami Herald.
Just as I suffer from the bad ones. lenjoy the good ones.
I hhare your concern about the economic problems we face. but don't
know enough about oil depletion allowances to comment intelligently
upon them. It may help to put the whole matter in perspective to recall
that the proposed tax increase which the Administration has requested of
Congress will restore only one-half o! the decrease in taxes which have
been instituted since President Johnson took oifice. Currently. it the
President had instituted no tax cuts Federal revenue annually Wauld be
$2} billion more than it is and there would be no problem of an intolerable
budget deiicit at this time.
I am not enough of an economist to understand all the considerations in-
volved. but it is certainly true that during an economic slowdown you cut
taxes to generate economic activity. it follows that in a time of strong
inationary pressures and increased economic activity you should raise
taxes to maintain the balance.
I share your apprehension about "giveaway" programs. but having aat on
the National Security Council (or a year and one~hal1 and heard many re.
ports bv the Director of the AID program and by the Secretary of State,
I can assure you that we don't spend maney abroad to earn gratitude. but
to further the interests of the United States. We are. for instance. extend-
ing aid to Indonesia in the hope that it will become a strong democratic
nation and an ally of the United States rather than become a communist
nation and an enemy -- and a potential threat to our other allies in South-
east Asia. Formosa. the Philippines. Be. It may well be that the
Indonesians will feel no gratitude -- but we may still have a bargain.
It is always good to hear Item you and to hear 0! the good work V0 are
doing.
Sincerely.
Farris Bryant
PAGE 1
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