Word: namsters
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Dates: during 1950-1959
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...Additional tax reduction is desired by everyone," said Under Secretary of the Treasury Marion Folsom, onetime treasurer of Eastman Kodak and longtime NAMster in good standing. "But taxes can be reduced further only as expenditures are reduced." Folsom saw little hope for big cuts in spending; in fact, said he, with the excess-profits tax expiring and personal taxes about to be cut, there was already the prospect of a $7.5 billion deficit next year. In view of that, the Administration would oppose the cut in corporate-tax rates (from 52% to 47%) and the elimination of some excise taxes...
Like many another NAMster Sligh thinks that government spending can be cut by more than $14 billion in the next year. Such a cut, accompanied by lower taxes, says Sligh, should bring no business slump. Says he: "The people have tremendous confidence, and confidence always breeds prosperity...
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