Easing the Tax Squeeze on Savers

It needs to be done, but the question is how

Has inflation turned the U.S. into a nation of spendthrifts? And if so, is the tax-cut package that Ronald Reagan has placed before Congress the proper medicine to cure America's wastrel malaise? Those are some of the questions Congress now faces as it passes judgment on President Reagan's economic program.

Economists generally agree that the level of savings in the U.S. is now too low. Greater savings would provide needed capital for firms to modernize equipment or build new...

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