THE ECONOMY: Lay Those Curlers Down

Prosperity, the Washington experts were finding out last week, is something like a wife. If you tell her she is beautiful, she glows. But if you tell her that she should pat here and retract there to keep her beauty enduring, she breaks into tears, convinced that she is sagging all over.

Treasury Secretary George Magoffin Humphrey, for example, has some pretty strait-laced ideas about balanced figures. Testifying last week before a crowded session of the Joint Congressional Committee on the President's Economic Report. Humphrey warned: "If we retain our present high tax rates over a sufficiently long period of time,...

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