Time Clock, Oct. 26, 1953

TAX planners in the Administration will not recommend an across-the-board manufacturers or retail sales tax, at least not under that politically dangerous name. Instead, the Administration is likely to ask Congress to rejigger existing federal excise taxes, perhaps lower them on items such as movie admissions, luggage and jewelry, and apply them to items such as clothing, now exempt. The tax program may be sugar-coated with increased income-tax exemptions for working mothers.

YEAR-END dividends of many companies will be postponed to January. Purpose: to let stockholders take advantage of the 10% income-tax cut due Jan. 1.

FAIR trade under the McGuire Act, which...

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