Word: humphrey
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Dates: during 1950-1959
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...fact was that Washington, cherry blossoms or no, was shivering in a political blizzard that even the political weathermen could not quite understand. Treasury Secretary George Humphrey's warnings against big budgets (TIME, Jan. 28 et seq.) had whistled up a cold front of economy talk all across the nation. Just at the time when the Administration was trying to get appropriations out of Congress, the cold front clashed with the warm winds of modern Republicanism. Principal orphans of the storm were the Eisenhower Republicans in Cabinet, House and Senate. The principal happy onlookers, snug and comfortable in Taftite...
...Eisenhower Cabinet seeking out late-staying Congressmen to whom he could pour out his budget woes. What, asked the reporter, was the Cabinet member doing at that hour? "You know what I'm doing," snapped Postmaster General Arthur Summerfield. "I'm trying to repair George Humphrey's wreckage...
...last week Washington was strewn with the wreckage of the demolition job that U.S. Treasury Secretary George Magoffin Humphrey began last Jan. 15. On that day Humphrey held a press conference to explain the latest Eisenhower budget. His prepared statement, written with White House assistance and approved word for word by Dwight Eisenhower, left an eminently proper impression of a Treasury Secretary defending his boss's budget. Then came a question-and-answer period-and George Humphrey struck out on his own. If long-range expenditures are not reduced, Humphrey predicted, the nation will see "a depression that will...
...When George Talks." George Humphrey's budget spark went off with one of Washington's biggest bangs, and the Administration, caught unawares, reacted with near-fatal slowness. This was partly because of the respect George Humphrey has won as the recognized strong man of the Eisenhower Cabinet. "When George talks," another Cabinet member once said, "we listen." Humphrey has generally been worth listening to. At 67, he has applied to U.S. fiscal policy the same firm, careful hand that he used in bringing Cleveland's M. A. Hanna Co. from a snarled tangle of mining miscellany...
...which the 52% corporate tax rate becomes effective, or lowering the tax rate for profits under $25,000. A Cabinet committee appointed by the President recommended a cut from 30% to 20% for corporations with earnings of less than $25,000. But the Administration, harking to Treasury Secretary George Humphrey's firm opposi tion to tax changes involving more than a "minimum" revenue loss, has so far regarded direct tax cuts as too expensive. Moreover, corporate tax cuts would not benefit some 85% of small concerns that are not incorporated, now pay their taxes on a steeply graduated individual...