Word: across-the-board
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...carry it, reform would not get very far along its rocky road. Mills therefore insists on tying tax cuts and reform together. On that point he has some sturdy backing in Congress. Says Kentucky's Senator Thruston B. Morton, former Republican National Chairman: "I will oppose any across-the-board tax cut without tax reform. If we cut taxes with out making reforms, we lose much of our trading position...
...dollar." Besides, the cheering fact is that the economy looks a bit brighter than a few weeks ago. Said Inland Steel's Chairman Joseph Block: "We are not in any economic crisis which might favor the Government's busting right in with a quick across-the-board tax cut." Some key barometers of business released last week-industrial production, housing starts, retail sales, new orders-showed small rises for July. This news cheered the stock market, but the President's speech also helped by clearing the air. Said Walston & Co. Market Analyst Edmund Tabell: "If there...
...article for London's influential Financial Times in which he predicted that the odds are ''at least even that a new downturn will come before the year's end-unless new Government action is taken." His recommendation, duly reported in the U.S.: "A sizable across-the-board reduction in tax rates on persons and corporations." Samuelson was so disturbed by the U.S. economy's state that he even hazarded some political prognostication: that the Democratic sweep he had expected in November does not now seem likely...
These bothersome figures put more pressure on the Administration for quick across-the-board tax cuts. The Administration still had not committed itself on that. But last week Washington did respond with two milder stimulants:1) a long-awaited speedup in depreciation write-offs of industrial plant and equipment; 2) lowering the cash margin required in buying stocks from...
...bolster his point, cited a list of economic indicators at record levels. Then, in a tacit admission that he was just as disappointed in the economy's lack of zip as most businessmen, the President proceeded to promise that he would ask Congress for "an across-the-board reduction in personal and corporate income tax." effective...