Carter gives in on taxes
Over scrambled eggs and bacon at the White House last Thursday morning, Jimmy Carter broke some important news to the chairmen of the congressional budget committees, Senator Edmund Muskie of Maine and Representative Robert Giaimo of Connecticut. Said the President: "I think it's wise to go along with a lower tax cut."
With that calm announcement, Carter signaled that he had finally been persuaded by the advice that most businessmen, economists and congressional leaders have been giving him for several weeks: his proposed tax cut of about $25 billion is too large. In December, when he first proposed...
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