State of the Union: The Overshadowing Issue

The Mono. Lisa was not the only thing being unveiled around Washington. In his State of the Union message, as prepared for delivery to Congress this week, President Kennedy finally took the wraps off his new tax program. It turned out to be quite a package.

The President wanted a cut of no less than $13.5 billion in U.S. income tax rates. Of this, some $11 billion would come by lowering the rates for individual taxpayers. At present those who have taxable incomes of not more than $2,000 a year pay 20%, and those who are in the over $200,000...

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