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...defraying the cost of stationing troops in Europe. Japan pleaded difficulties with its own balance of payments deficit in refusing to agree to any specific new steps to bolster the dollar. Officials in both London and Tokyo expressed alarm over the possibility that the Administration may ask Congress to enact some form of border taxes to offset those imposed by Common Market countries. Clearly, Johnson's unexpectedly drastic blow at the U.S. payments deficit had strained the intricate fabric of international arrangements for world trade. It will take cool heads and delicate negotiations to avoid some serious rips...

Author: /time Magazine | Title: Government: Controlling the Controls | 1/19/1968 | See Source »

...tough measures will spur Mills to swifter action on the tax increase, he may be in for a disappointment. In announcing his program at the ranch, the President declared, largely for Mills's benefit, "No business before the returning Congress will be more urgent than this: to enact the anti-inflation tax which I have sought for almost a year." But Mills and several Ways and Means colleagues are still deeply disturbed at the rate of Government spending, and they do not intend to move the tax surcharge bill out of committee until Johnson does more to cut federal...

Author: /time Magazine | Title: The Economy: Stanching the Flood | 1/12/1968 | See Source »

...from the other two states to cross its borders to seek employment without passports or entry permits. The Community will have both a "cabinet" composed of three ministers of East African affairs, one from each government, and a Legislative Assembly that will include nine persons from each nation to enact laws governing services. Though only a modest first step, the East African Economic Community promises to be the smartest-and the fastest-growing-club in Africa...

Author: /time Magazine | Title: Africa: Smart New Club | 12/22/1967 | See Source »

...completion of Rooks' analysis and cure, he felt that making a film about it would be the perfect way to enact a final exorcism of the demons, rid his mind and body once-and-for-all of drugs and liquor. Backed by a family fortune which had previously sustained his drug habit, Rooks cast himself in the lead part (giving himself a pseudonym, Russell Harwick), and went to work in 16mm, deciding 6 months later to do it up proud and shoot professionally in 35mm. Only a few of the original shots remain, indicated by a black strip of masking...

Author: By Tim Hunter, | Title: 'Chappaqua' | 11/29/1967 | See Source »

During the conference, the President touched on foreign-aid cuts ("a serious mistake") and on congressional reluctance to enact his proposed 10% surcharge on individual and corporate income taxes. Singling out House Republican Leader Gerald Ford, Wisconsin Republican John Byrnes and Arkansas Democrat Wilbur Mills, chairman of the House Ways and Means Committee, he declared: "They will live to regret the day when they made that decision [to bottle up the tax bill], because it is a dangerous decision. It is an unwise decision." Raising taxes is an unpopular move, but "we should do it" and eventually "Congress will...

Author: /time Magazine | Title: The Presidency: The Look of Leadership | 11/24/1967 | See Source »

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