HOW TO KEEP INVESTMENT FUNDS AT HOME
Regarding "O.K., I was wrong. We do need to stimulate the economy" (Economic Viewpoint, Aug. 24), the investment credit should be limited to American-produced machinery, tools, and dies, including the value added in the U.S. to foreign-built products. Freight added in the U.S. and installation costs--which often cost more than the machinery--should be included.
Some omit this limitation in fear that others would misunderstand it as a form of protective tariff. We would collect taxes on the labor and profits from the additional machinery and equipment produced here. No such help in underwriting the plan comes from machinery produced in Germany, England, Japan, etc.
Harry N. Howard
Rohnert Park, Calif.