TAXES: Down!

Many Congressmen had grave doubts about the wisdom of lowering taxes when nobody knew how many billions of dollars might be needed for the insecure international future. But there was no doubt that the people wanted an income-tax cut. And there was never any doubt, in an election year, that the Republican-dominated Congress meant to give it to them.

When the Senate-approved bill to cut income taxes by $4.8 billion reached the House last week, Minority Leader Sam Rayburn did his best as a Canute. He cried that it was reckless, in these times, to invite deficits: "Hadn't we better...

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