TAXATION: Cuffing Again

Cutting Again

Once more the great public diversion and private pleasure, tax cutting, came to the front; for the Ways and Means Committee of the House assembled in Washington to draft a new tax reduction law for the Congress that meets in December. The lines of the fight were well laid down in advance of the hearing. Everyone—Administration and opposition—is for it. The question is, what and how much?

How Much? The Administration thinks that, the tax reduction should be gauged by the expected Treasury surplus. What this is expected to amount...

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