This week the Eisenhower policy on taxes crystallized into a clear-cut, five-point program. The five points: ¶Extend the excess-profits tax on corporations six months from next June 30, the scheduled expiration date, and let it expire next Jan. 1.
Allow the reduction of approximately 10% in personal income taxes, as scheduled, next Jan. 1.
¶Continue the present regular corporation income tax instead of allowing the 5% reduction scheduled for next April 1. The reasoning: demands of the U.S. defense budget will not permit a cut in both corporate and personal income taxes; and the President believes that personal taxes...
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