The Administration's tax reduction plan (TIME, Nov. 19) has placed the advocates of a soldier bonus on the defensive. The majority of them are advocating both a tax reduction and a bonus. They suggest chiefly three alternatives to abandonment of a bonus:
1) That the bonus can be passed if only part of the tax reduction is made. William G. McAdoo suggested an issue of 50-year bonds to finance the bonus. He calculated that these bonds could be retired by an annual outlay of about $90,000,000. John Thomas Taylor, Vice Chairman of the...
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