Business: Helping the Goose Lay Golden Eggs

THE goose that lays the golden egg," said Treasury Secretary George Humphrey, "is production. If you haven't got a payroll, you haven't got consumers." On that thesis, the Eisenhower Administration has drafted its tax program. In the process, it has also drawn a clear line of definition between its economic policies and those in force over the past 20 years.

In the '30s, when "economic royalists" and "privileged princes" were blamed by F.D.R. for the Depression, the basic New Deal tax policy was to boost taxes in the upper brackets, keep them light on the "little man," and thus try to...

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