The Economy: All Together, Now

Everybody in the country seemed to be talking about a tax cut—but not all in the same language:

∙Reflecting a division within his own Administration about the advisability of an immediate tax cut, President Kennedy at his press conference said that he would recommend one "if we decide it is needed"—but did not retreat from his belief that tax reduction would best be coupled with overall tax reforms planned for next year.

∙The conservative U.S. Chamber of Commerce called for an immediate tax cut, even if it meant a budget deficit in the coming year—which it certainly would. Said Chamber President...

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