Word: dillons
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PRINCETON, Feb. 16--Dave Abramson and John Pringle scored an amazing 26 points between them at Princeton's Dillon Pool today, but it took a Crimson victory in the final freestyle relay to defeat the Tigers, 52-43, and extend the swimming team's undefeated record to 18 consecutive meets...
Wary of Deficits. The "primary objective" of the Administration's tax-cutting program, Dillon began, "is to release our economy from the shackles of an overly repressive income tax rate structure so that it can move ahead to full-capacity utilization of its human and physical resources." No sooner had Dillon finished reading a 75-page prepared statement than Wisconsin's Congressman John W. Byrnes moved in to attack. Said Byrnes, top-ranking Republican on Ways and Means: "I believe there are two essential requisites for a tax reduction this year. First, there must be some willingness...
Republican Dillon, a convinced advocate of tax reform, attempted to still such unworthy suspicions. Tax reduction and tax reform, he said, are "inseparable" in the Administration package. The total yearly cost of the tax cuts, when fully in effect in 1965, would by Dillon's estimate come to $13.6 billion. The proposed structural revisions would recover some $3.3 billion-for a net revenue loss of about $10 billion. That, said Dillon, is "the maximum revenue loss that can safely be accepted...
...Dillon's testimony did not satisfy the Congressmen-least of all Arkansas' Mills. He has long cherished the goal of drastically revising the income tax laws, combining deep rate cuts with a closing or narrowing of the tax code's numerous routes of tax avoidance. He wants a tax code that is cleaner, simpler, more equitable than the present tangle, and plainly is no admirer of the Administration package. It would cut the rates, all right, but its proposed reforms are skimpy, uneven and not very fair...
When it comes time for trade talks next year, the U.S. may find the Common Market nations harder to deal with than they would have been with Britain's free-trading influence. Europe already feels that it gave the U.S. more than it got in the 1961 "Dillon Round" of talks ($1.6 billion in concessions in return for $1.2 billion). Moreover, without Britain the next Kennedy Round has lost the grandeur of negotiations between two trade blocs that could have set effective trade standards for the entire free world. The psychological effects of bargaining toward maximum cuts of only...