TAXES: End to the Profit Motive

Defense to date has been a boom. Last week the Treasury served notice, through its recommendations to raise an additional $3,600,000,000 in new taxes, that from here out defense will mean sacrifice. It was the Administration's bluntest effort yet to take the sugar coating off the emergency. As far as business was concerned, it meant that the profit motive is practically out for the duration.

Defense's first year looked, to. some like a three-cornered race for "fat" among business, labor and agriculture. The Na tional City Bank estimated that 390 leading industrial corporations lifted their profits...

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