TAXES: Two-Way Stretch

In the new tax program offered to Congress by President Eisenhower last week to provide the nation's economy —with more breathing space, many of the 25 proposals favored the businessman (see BUSINESS). From the left came cries of "favoritism," but closer inspection showed that the tax plan had a two-way stretch, and the individual taxpayer had not been left out of its ample benefits. Items:

¶Greater deductions for medical expenses. The President proposed doubling the present maximum allowances to $10,000 for a family. Estimated taxpayer savings: $65 million a year.

¶ A revised formula for taxing pensions and annuities, to...

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