The Nation: The Pros and Cons of Revenue Sharing

Although the idea of revenue sharing is not new, the issues involved are still dim to much of the public. TIME Senior Correspondent John Steele provides this analysis of what is at stake in the major new presidential proposal:

IN 1805, President Thomas Jefferson urged "a just repartition" of federal revenues among the states for the promotion of "canals, roads, arts, manufactures, education and other great objects within each state." The idea got nowhere then, and neither did an updated version that Chief Economic Adviser Walter Heller tried to sell to President Lyndon...

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