GOVERNMENT: What's Wrong With Taxes?

To give Congress expert advice for charting tax policies, the Joint Committee on the Economic Report early this year asked some 100 top industrialists, labor leaders and economists for their views. Last week, when the committee brought out its fat (930-page), figure-packed report, there were as many opinions as experts.

What Congress wanted most to know was how to design a tax policy that would promote production, full employment and purchasing power. Almost to a man, U.S. businessmen agreed that rising production is sorely hindered by present federal taxes. Though postwar investment in plants and equipment has soared to alltime...

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