Members of the TIME Board of Economists generally share the growing voter sentiment that the total burden of local, state and federal taxes is too high. But a number of those interviewed favor cuts less drastic on a nationwide basis than those called for in California's Proposition 13, which reduces property taxes by 57%.
"Federal, state and local taxes are still in the vicinity of 30% of the gross national product in this country," says Walter Heller, chairman of the Council of Economic Advisers under Presidents Kennedy and Johnson. He adds, "Taxes in most...
To continue reading:
or
Log-In