Public Policy: The Government & Profits

Though he is dead set against a general round of price increases as a solution to the profits squeeze (see above). President Kennedy readily concedes that U.S. businessmen must somehow find more capital to spend on modernization if they are to compete successfully in world markets. When the great steel hassle suddenly transformed the profits problem into a front-page issue, the Administration was already committed to a program which it believes would enable business to raise expansion capital without increasing prices. The Kennedy program would give businessmen 1) a credit against...

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