Full Steamroller Ahead

Like many another Administration tax expert, Secretary of the Treasury John Wesley Snyder has privately intimated that he is against an excess profits tax even though his boss in the White House is for it. But last week, when the House Ways & Means Committee opened hearings to draft a bill for such a tax, Secretary Snyder trotted over like a good soldier to do battle for it.

The tax should raise $4 billion in additional revenue, said Snyder, and he outlined a way to do it. His plan: use the average profit for the best three years of 1946-49...

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