BLAIR LEE III, Acting Governor                        2959

A Senate Joint Resolution concerning

Free Enterprise Economy

FOR the purpose of declaring the belief of the General
Assembly in the free enterprise system; and generally
relating to that system.

WHEREAS, The free enterprise economy is the source of
all wealth, both public and private, in this State and
Nation; and

WHEREAS, The free enterprise economy has produced an
abundance and a level of unparalleled prosperity which has
benefited citizens of this State in every walk of life; and

WHEREAS, Individuals and firms operating in our free
enterprise economy have demonstrated the capability of
producing imaginative and effective solutions to the vexing
problems of our society; and

WHEREAS, Individual initiative and competition is the
foundation and bedrock of such system; and

WHEREAS, The individuals and firms engaging   in such

competition provide the basis of our tax system and     produce

the revenues required for government to carry     out its
legitimate functions; and

WHEREAS, Governmental bodies and agencies of this State
and Nation have proliferated at an alarming rate; and

WHEREAS, Such governmental bodies and agencies have
increasingly entered into direct competition with the
private sector with a resulting increase in costs to the
taxpayers of this State; and

WHEREAS, Such governmental competition is unfair
because the private sector is being taxed to sponsor such
competition; and

WHEREAS, Such governmental competition reduces the tax
revenue available to this State; and

WHEREAS, Such governmental competition is not subject
to the same scrutiny and accountability as is the private
sector; and

WHEREAS, 40 percent of all      corporate bonds and 25

percent of all stocks in this Country are owned by the

public employee retirement funds      which forges a strong
partnership of public service employees with the free

enterprise system. The success      of the free enterprise

system will play a large part      in the security of these
systems; now, therefore, be it