Taxes: Yes to a Cut

President Kennedy's tax-cut proposals have got a generally small hello from businessmen. But in Washington last week 35 corporation heads—including Henry Ford II, U.S. Steel's Roger Blough, A.T. & T.'s Frederick Kappel and Chase Manhattan Bank President David Rocke feller—organized a "Business Committee for Tax Reduction in 1963." The committee's purpose: to stump the country on the President's behalf.

There was an important qualification in the committee's viewpoint. It agreed with the need for an immediate tax cut, suggested $10 billion as a figure v. Kennedy's $13.6 billion. Unlike the President, its organizers opposed the tax reforms that the Administration...