When Secretary of the Treasury Mellon first announced his program for reduced income tax rates, the business community was too much taken by surprise to comment upon it at once. This temporary silence was apparently interpreted in Washington as indifference, and many politicians made the capital mistake of pooh-poohing the Mellon program as "unpractical." Then the vigorous approval of the Secretary's plan began to be audible from all parts of the nation, and many of its politician-opponents have hastened to " straddle" the issue, or climb boldly on the bandwagon while there was...
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