TAXIS: Starting the Countdown Toward a Cut


In a few more days, storekeepers and their customers will begin the annual countdown of the number of shopping days left before Christmas. Counting along with them this year will be worried economists, who will be watching to see if consumers go on a buying spree that might lift the economy out of its doldrums. If that does not happen, President-elect Jimmy Carter is almost certain to recommend that Congress do the job instead by enacting a temporary tax cut of $10 billion to $15 billion—probably in the form of rebates to individuals on their 1976 taxes.

The faint possibility that Christmas...

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