JOBS: Something for No One

For a tax-smart peanut farmer who shrewdly capitalized on federal depreciation write-offs to build his own business, Jimmy Carter has proved so far to be remarkably parsimonious toward businessmen. In fact, in his $31.2 billion program for stimulating the economy, Carter allocated only a very modest $2.6 billion as incentives for businesses to expand. But the House Ways and Means Committee totally rewrote the section dealing with business in Carter's economic package, taking away almost completely even the little that he was prepared to give.

In his bill, the President had hoped...

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