President Roosevelt announced that he would present a new fiscal program to Congress before the summer recess pointing out the danger of the "inflationary gap" and asking for new taxes. By week's end he had all his financial advisers working on the program: War Mobilize? James F. Byrnes, the Treasury, Budget Director Harold D. Smith, Economic Stabilizer (and oldtime taxpert) Fred M. Vinson.
This might be good news. The Administration's whcle wartime tax policy has been befogged. The President himself reflected some of his Administration's confusion last week: at one press conference he...
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