Word: dillons
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Another Cup of Tea. Next day the President met at the White House with his top economics lieutenants, including Chief Economics Adviser Walter Heller, Treasury Secretary Douglas Dillon, Commerce Secretary Luther Hodges and a half dozen others. Also there in good grace: Paul Samuelson. Heller and his fellow council members had stayed up until 3 a.m. the night before preparing an all-out case for a prompt tax reduction to perk up the economy-and they presented it forcefully to Kennedy...
...would have a healthy payments surplus-and not of any basic imbalance in its economic relations with other nations. It is therefore far less important than the health of the U.S. economy itself, which holds the real key to how the balance of payments goes. Treasury Secretary Douglas Dillon is sticking to his prediction that the adverse balance-of-payments situation will end by late 1963. If that hopeful prediction does nothing else, it should at least enable economists to concentrate more attention on solving the problems of a sluggish U.S. economy...
Even worse, Ribicoff found himself outside the President's inner circle of confidants. It was the technicians of the Cabinet-McNamara, Dillon, Rusk-who had the President's ear, but they rarely saw fit to question his political judgment. So Abe was reduced to the dull and thankless job of administering a department...
...Question. The proponents of quick tax cuts to get the economy moving were powerfully backed up by expert eco nomic opinion. Fortnight ago, three dozen highly regarded economists from outside Government assembled in Washington to discuss tax reductions with Treasury Secretary Douglas Dillon and his top officials. The economists agreed to a man that the state of the economy demanded them -not next year, but as soon as possible. Says University of California Economist Neil H. Jacoby: "There is general agreement among economists that federal tax rates must come down. The big question is whether there will ever...
Vague Ideal. Behind Kennedy's reluctance to cut taxes this year stand the urgings of Treasury Secretary Dillon, the only Republican in the Cabinet. Dillon feels that a quick cut this year would wreck the Administration's plans for broad reform next year. Treasury experts have been working on the outlines of a reform bill for more than a year. Under present plans, cuts in rates under the reform bill would be steep enough so that the measure would bring overall tax reductions-but some taxpayers now benefiting heavily from special provisions might find themselves owing more income...