Taxes: More, Not Less

When the Kennedy Administration first put forth its plan for a corporate tax cut, the proposal was widely hailed as a stimulant that would give businessmen extra money for expansion. Last week, after corporate treasurers had run the proposals through their computers, some businessmen found to their dismay that they would get none of the benefits until 1966 —and would, in fact, be paying more annual taxes until then.

Businessmen naturally find no fault with the Administration's proposal to reduce corporate taxes from 52% to 47% over three years. They are concerned by the effort to...

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