It will, in addition, encourage the initiative and risk-taking on which our free system depends -- induce more investment, production, and capacity use -- help provide the 2 million new jobs we need every year -- and reinforce the American principle of additional reward for additional effort. I do not say that a measure for tax reduction and reform is the only way to achieve these goals. -- No doubt a massive increase in Federal spending could also create jobs and growth-but, in today's setting, private consumers, employers, and investors should be given a full opportunity first. -- No doubt a temporary tax cut could provide a spur to our economy -- but a long run problem compels a long-run solution. -- No doubt a reduction in either individual or corporation taxes alone would be of great help -- but corporations need customers and job seekers need jobs. -- No doubt tax reduction without reform would sound simpler and more attractive to many -- but our growth is also hampered by a host of tax inequities and special preferences which have distorted the flow of investment. -- And, finally, there are no doubt some who would prefer to put off a tax cut in the hope that ultimately an end to the cold war would make possible an equivalent cut in expenditures-but that end is not in view and to wait for it would be costly and self-defeating.