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...bill with a $15 billion net cut in revenues but no reduction in the capital gains rate. At a Senate Finance Subcommittee hearing last week, Treasury Secretary W. Michael Blumenthal said that the Steiger amendment "should be called the Millionaires' Relief Act of 1978," a view shared by AFL-CIO President George Meany and other labor leaders. That did not especially please the six Senators present, half of whom can count their net worth in seven figures.- The most heated exchanges came when Republican Senator Bob Pack wood of Oregon (net worth: $100,000) accused both Blumenthal and Carter...
...nation's labor unions have been dwindling in recent years in both membership and political clout. But they mustered all the lobbying power they could behind the Labor Reform Act of 1978. Pressured by AFL-CIO Boss George Meany, President Carter gave the bill forceful, if not all-out, support. But businessmen, large and small, rallied strong opposition, arguing that the bill would put them at a disadvantage with Big Labor and lead to a wave of organizing, particularly in the South, where unions have been weak. Last week, after the bill had been stalled for 19 days...
...gulf between Carter and the union leaders has been especially wide and deep since the President met with AFL-CIO Chief George Meany several weeks ago and tried-in vain-to sweet-talk him into supporting a general wage hold-down. As a union official who attended that White House session told TIME Correspondent Richard Hornik: "Carter came in with his little sermonette, and when we did not accept everything he said, he stopped listening to us. He should realize that meetings like these are not Sunday school...
...astonishing support for a proposal to cut the capital-gains tax from a maximum rate of 49% to 25%. Though the Administration dismisses it as a "fat cat" proposal, Steiger's measure has won endorsement from 61 Senators and, in the name of job creation, from none other than AFL-CIO Leader George Meany. Steiger had been talking of settling for a new ceiling of 35%, but in the wake of Proposition 13, he may well revert to his original demand...
Jones says that one of his favorite salesmen is AFL-CIO President George Meany, and the old plumber has allied with the GE boss on many issues. Once when Jones congratulated Meany for selling an increase in the investment tax credit on Capitol Hill, Meany said: "Hell, the trouble with you business guys is that you talk about 'capital formation.' What you should be talking about is 'job formation' because those are buzz words to Congressmen...