TAXES: Looking into Loopholes

Searching hard for an issue to hit headon, Edmund Muskie last week accused a list of big corporations of loop-holing their way out of all federal income taxes. Speaking in New Castle, Pa., Muskie named "eight giant corporations" that "paid no federal income taxes in one of the last two years." They were: Aluminum Co. of America, Allied Chemical, Bethlehem Steel, National Steel, Republic Steel, Standard Oil of Ohio, U.S. Steel and Westvaco Corp. Officers of the firms disputed Muskie's charges, and it was hard to tell who was right. Under current...

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