Much in the manner of Charles de Gaulle listening to Britain's latest bid for Common Market membership, Congressman Wilbur Mills's Ways and Means Committee last week heard again the Johnson Administration's arguments for a 10% income tax surcharge. The answer, predictably, was no.
The exercise had a this-is-a-recording tone, but the White House sent in the first economics team anyway: Treasury Secretary Henry Fowler, Budget Director Charles Schultze, Federal Reserve Chairman William McChesney Martin and Chairman Gardner Ackley of the Council of Economic Advisers. For two days, the witnesses piled statistic on projection to prove essentially two points: that without the tax...
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