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COOPERS & LYBRAND LAUNCHES ADVERTISING CAMPAIGN, FOCUSES ON NATIONAL ECONOMIC ISSUES

 NEW YORK, June 23 /PRNewswire/ -- Coopers & Lybrand today announced the launch of a national advertising campaign that is designed to further public debate on business and economic issues that the firm believes are vital to the growth and prosperity of the United States.
 Half-page ads in The Wall Street Journal, The New York Times and The Washington Post, which will appear in tomorrow's editions, will address the question, "Can This Country, or Any Country, Really Tax Its Way Out of a Deficit?" They assert that the Clinton Administration's tax package will discourage the capital formation and investment necessary for economic growth over the long term.
 "Repeatedly, the president has declared his reliance on small businesses to create jobs and grow the economy, yet, potentially, the proposals will hurt small business the most, as they create a tax disincentive to the entrepreneurs and others who risk their capital," states the advertorial, which is signed by Eugene M. Freedman, the firm's chairman and chief executive. "And dollars that go into higher taxes can't be reinvested into businesses or create new jobs. In effect, the legislation will kill the goose that the president himself is counting on to lay the golden eggs."
 The advertorial -- the first in a series called "The Net Effect" -- then offers suggestions for more effective tax legislation that Freedman says would stimulate savings and investment. While reducing federal expenditures and certainly the rate of their growth are clear priorities, exploring new revenue sources are necessary -- such as consumption or value-added taxes that would reach into the $150 billion underground economy and providing tax relief on earnings from savings, among others.
 Commenting on the campaign, Freedman said: "Our role as an advisor to companies of all sizes, in all industries, throughout the United States and the world, gives us a unique perspective on business issues. Because economic growth is of utmost importance to Americans, we feel compelled to speak out on the basis of the knowledge we have gained from exposure to a vast array of businesses and industries.
 "Our intention is to be a catalyst in public policy debate, focusing the attention of the nation's opinion leaders at appropriate times on such far-reaching issues as taxation, world trade, national health care and privatization. Our objective is to alert businessmen, Congress, the Clinton Administration, corporate shareholders, boards of directors and entrepreneurs to the potential impact -- good or bad -- of various policy proposals on American business and thus, on the economy. We also intend to offer our thoughts about alternative solutions to these problems.
 "In every case, the public positions we take will present a point of view that reflects Coopers & Lybrand's awareness and knowledge of the vies of our diverse client base. To our knowledge, Coopers & Lybrand is the only firm to take the case of American business to the public."
 Freedman said that the initial advertorials will run again in the same newspapers next Tuesday. "In the future, we expect to broaden our effort to include other major publications. We are just beginning this effort, and we are committed to continuing it to get our message across effectively," he said.
 "We chose the newspaper advertorial format because it is a powerful means of reaching our nation's opinion leaders -- and all thoughtful Americans -- virtually as fast as the issues arise," Freedman said.
 The new campaign was developed for Coopers & Lybrand by the firm's advertising agency, Hill, Holiday, Connors, Cosmopulos, a national firm which is headquartered in Boston.
 -0- 6/23/93
 /CONTACT: Dave Nestor of Coopers & Lybrand, 212-536-2965/


CO: Coopers & Lybrand ST: New York IN: SU:

MP-SH -- NY051 -- 5072 06/23/93 14:27 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
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