THE ADMINISTRATION: Small Favors

Business had been expecting something of a jackpot from the Administration, and it got paid off with a few nickels. When it came right down to it last week, the Administration was willing to trim a few wartime excise taxes here & there, but to make up for the favor, it wanted to increase other taxes on business by another $1 billion a year.

The only outright excise repeal the Ad ministration had in mind was the 3% tax on freight transportation and the 20% tax on baby oils, powders and lotions. A few other items came in for varying...

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